Verbit, The World'S Leading Voice Ai Platform, Raises $250 Million Series E, Achieving A $2 Billion Valuation In Less Than 5 Years
Verbit, The World'S Leading Voice Ai Platform, Raises $250 Million Series E, Achieving A $2 Billion Valuation In Less Than 5 Years
11/23/21, 10:00 AM
Money raised
$250 million
Round Type
series e
Verbit, the world's leading voice AI transcription and captioning company, announced today that it has closed its Series E funding round at $250 million, after securing a $150 million primary investment and $100 million in secondary transactions. The round was led by a $200 million investment by Third Point Ventures, with additional participation by existing investors Sapphire Ventures, More Capital, Disruptive AI, Vertex Growth, 40North, Samsung Next and TCP. Verbit's total funding now exceeds $550 million (including secondary transactions) since the company's inception in 2017. Since Verbit raised its Series D of $157 million last May, the company's valuation has doubled to $2 billion
Company Info
Additional Info
Verbit is the world's leading interactive transcription and captioning platform for the media, higher education, legal, corporate and government verticals. The company's in-house, AI-based Automated Speech Recognition (ASR) technology, coupled with its human transcriber network, offers customers high-quality, word-for-word, interactive and collaborative transcripts and captions. Verbit's solutions reach 99.9% accuracy levels and deliver industry-leading turnaround time (10X faster than industry standards). Businesses, legal agencies, universities and others can leverage Verbit's customizable solution, which meets ADA, FCC, and privacy compliance standards. Verbit has over 470 employees based in New York, Colorado, Pittsburgh, Palo Alto, Canada, Tel Aviv and Kyiv and employs over 600 captioners and more than 35,000 transcribers globally. Learn more: https://verbit.ai.