In this paper, we introduce the Kaizen framework that uses a continuously improving teacher to generate pseudo-labels for semi-supervised training. The proposed approach uses a teacher model which is updated as the exponential moving average of the student model parameters. This can be seen as a continuous version of the iterative pseudo-labeling approach for semi-supervised training. It is applicable for different training criteria, and in this paper we demonstrate it for frame-level hybrid hidden Markov model - deep neural network (HMM-DNN) models and sequence-level connectionist temporal classification (CTC) based models. The proposed approach shows more than 10% word error rate (WER) reduction over standard teacher-student training and more than 50\% relative WER reduction over 10 hour supervised baseline when using large scale realistic unsupervised public videos in UK English and Italian languages.