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AI Transcription Startup Verbit Raises $11 Million in Seed

AI Transcription Startup Verbit Raises $11 Million in Seed

Tel Aviv-based Verbit develops an artificial intelligence-based system that automatically transcribes recorded speech

Tofi Stoler | 11:46, 29.03.18

Tel Aviv-based Transcription startup Verbit Software Ltd. raised $11 million in Seed from venture capital firms Vertex Ventures Israel, Oryzn Capital, and HV Holtzbrinck Ventures, the company announced Thursday.

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Founded in 2016, Verbit develops an artificial intelligence-based system that automatically transcribes recorded speech, while allowing for human monitoring and corrections.
The Verbit team. Photo: PR The Verbit team. Photo: PR The Verbit team. Photo: PR

Verbit has over 50 customers, including U.S.-based telecommunications conglomerate Comcast, California-based online education company Coursera Inc., and The London Business School, according to company statements. Verbit operates additional offices in Palo Alto, California.

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Verbit plans to use the funding for research and development and for growing the company’s sales and marketing team. Verbit also intends to hire additional machine-learning and DevOps engineers in Israel.
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