While voice transcription is not a new venture, this company has a unique approach to the technology. It draws on the latest advances in machine learning and natural language understanding to convert voice recordings into text. This technology has been around for decades, and there are already established players like Google and Nuance. Voice to text capabilities are included in many popular cloud software solutions such as Microsoft 365 and Cisco’s Otter.
Verbit has raised $23 million in a new funding round led by Voila Partners. The round follows a $11 million seed round from the startup, and it brings the total raised to $65 million. The company is also expanding its operations globally and stateside.
The investment will enable Verbit to accelerate its growth, expand into new verticals, and enhance its speech recognition technology. The company is recognized as a leader in AI transcription technology, and recently announced the launch of a new Real-Time transcription service. The company also recently opened its first US office in New York, and plans to triple its team size by 2020.
Verbit has recently acquired VITAC, which is the largest captioning provider in the U.S. The company has more than 1,500 clients, including CNBC, CNN, FOX, and Stanford University. It plans to continue expanding its offerings in these verticals as it prepares for an IPO.
Verbit’s technology relies on cutting-edge advances in machine learning and natural language understanding. The company uses three algorithms to create captions that accurately translate audio files into text. These algorithms filter out background noise, identify speakers regardless of their accents, and recognize domain-specific terms. Clients upload audio or video files to a cloud dashboard where a team of 22,000 freelancers works on them. They edit the material according to customer notes and guidelines.
The world’s leading AI-powered captioning and transcription platform, Verbit, has closed a $60 million Series C round led by Sapphire Ventures. This funding comes just 10 months after the company’s $31 million Series B round, and brings the company’s total capital raised to over $100 million. In the past year, the company has grown five-fold.
Sapphire Ventures is a venture capital firm that focuses on early-stage enterprise technology companies across the U.S., Europe, and Israel. Its portfolio includes companies such as Degreed, Flowhaven, Breathwrk, and Buzzer. In addition to these investments, it has also made several acquisitions, including Phoenix Labs, Auth0, and Convercent.
Verbit is an AI-powered transcription and captioning platform
Verbit is an AI-powered transcription platform that can be used by anyone, anywhere. The platform is built on natural language processing and machine learning to produce high-quality transcripts and captions. It uses a network of more than 35,000 freelance transcribers and 600 professional captioners to create captions and transcripts. The platform claims to deliver 99% accuracy and fast turnaround times. This means that it is an excellent choice for virtual events, interviews, and online learning opportunities.
The company has raised more than $157 million in a recent funding round. The funding will be used to expand geographically and further develop the product. In addition to that, Verbit plans to double down on its acquisition strategy.
Its customers include CNN, Disney, Amazon, Microsoft
Verbit has served over 2,000 customers worldwide, including customers in the education, legal, corporate, and media sectors. The company has recently launched a service for media companies to perform human-in-the-loop transcriptions. Recently, it also inked a deal with the Speech to Text Institute to invest in court reporting.
Verbit has raised more than $225 million in funding and plans to go public in the near future. Founded by Avi Livne, Verbit is valued at over $2 billion. The company has also recently acquired captioning service VITAC. The company currently supports over 1,500 customers.
It recently acquired VITAC for $50 million
The recent acquisition of VITAC by Verbit will strengthen Verbit’s position as a provider of professional transcription services. The acquisition also expands Verbit’s global presence, with offices in New York, Colorado, Pittsburg, and Palo Alto. In addition, Verbit currently supports over 1,500 customer organizations, including government agencies, media companies, and education organizations.
Founded in 1986, VITAC offers closed captioning, subtitling, and audio description. It claims to work with almost every broadcast company, cable network, and educational institution in the world. The company also offers AI-based tools and experts to enhance its transcription capabilities. It claims to caption over 550,000 hours of live and prerecorded television each year.
VITAC is the nation’s largest provider of captioning services. The company leverages professional captioners and proprietary AI-based ASR technology from Verbit. This technology is built on a custom engine and is always-trained. As the company continues to expand its customer base, it is poised to offer new solutions to meet the growing demand for captions.
It plans to expand its workforce
Founded in 2011, Verbit has raised more than $1.5 million in venture funding. It serves more than 2,000 clients in the education, media, legal, and government sectors. Its services include transcription services, digital media, and artificial intelligence. The company’s services are used by CNN, Disney, Coursera, Harvard University, and Microsoft, among others.
The company is based in New York and Tel Aviv and offers AI-assisted transcription and captioning services. Earlier this year, Verbit raised $31 million in a Series B round led by Stripes, with existing investors joining as well. The money will go toward product development, expanding its geographical footprint, and doubling down on its acquisition strategy.
While many startups in this space are relying on cutting-edge technology and innovative processes, Verbit is focusing on the enterprise. Its CEO, Avi Livne, has a background in law, and became dissatisfied with the slow turnaround time of transcriptions. His frustration prompted him to create Verbit, which uses AI to make transcription faster and more accurate.
It has raised $157 million in Series D funding
The latest funding round is another major step forward for Verbit, which has raised more than $157 million in total. The company plans to use the money to further develop its products, expand geographically and prepare for an IPO. Its customers include media companies, universities and government organizations. The startup has a user base of over 2,000. Some of its clients include CNN, Disney, Coursera, Harvard University, Microsoft and others.
Verbit is planning to expand its services and add 200 new business and product roles. The company also plans to enter new verticals, including the insurance, financial, media, and medical industries. It recently launched a human-in-the-loop transcription service for media companies. In addition, the company has partnered with the Speech to Text Institute, which is investing in court reporting