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9 May 2012

Musselman joins Carnegie Speech

Paul Musselman, formerly of Intel Capital and IBM's corporate development team, takes the top role at the language learning start-up, which spun off from Carnegie Mellon University.

Author: Toby Lewis, editor, Global Corporate Venturing

Carnegie Speech, a language learning company, has appointed Paul Musselman, once of Intel Capital and IBM's corporate development team, as its chief executive. The company also raised $3.4m.

Carnegie Speech uses speech recognition and artificial intelligence technologies licensed from Carnegie Mellon University. The company's series A-2 financing raised $2.2m in 2009, with the company announcing a strategic partnership with the CIA's quasi-corporate venturing unit In-Q-Tel at the same time.

The company raised $1.7m of a planned $1.8m round last year, according to a filing.

In 2007 the company raised $6.4m, according to three filings.

Musselman joined Intel Capital in 1997, according to his LinkedIn profile. He subsequently led IBM's Europe, Middle East and Africa corporate development team. He is also a twelve year veteran of the US Army Special Forces.

The company's series B round of funding was led by investment firm Golden Seeds and venture firms Osage Venture Partners and New York Angels.

 Joining Musselman on the company's board are Stephanie Newby of Golden Seeds, Nate Lentz of Osage Venture Partners, Al Zollar, formerly of IBM, who becomes lead independent.

 The company's other investors include Carnegie Mellon, Innovation Works, Lore Associates, Mid-Atlantic Angel Group, Angel Investor Forum, North Texas Angel Network and Wisconsin Investment Partners.

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