Verbit.ai with office in Kyiv lands $250M Series E at a $2B valuation to expand its AI-powered transcription platform.
- The latest funding brings its total raised to more than $550 million.
- The new capital was led by Third Point Ventures, with participation from existing investors Sapphire Ventures, More Capital, Disruptive AI, Vertex Growth, 40North, Samsung Next and TCP.
- Verbit’s automated speech recognition (ASR) technology platform offers customers word-for-word, interactive and collaborative transcripts and captions.
- What makes Verbit’s platform unique is that it harnesses the power of both artificial and human intelligence to provide vertical-specific transcription and captioning, building solutions that fit each industry.
- Verbit serves more than 2,000 customers across the media, education, corporate, legal and government sector. Its clients include CNN, Fox, Disney, Coursera, Stanford, Harvard University, Amazon, Microsoft and AT&T.
- The company is growing rapidly, with 6x year-over-year revenue growth and over $100 million in annual recurring revenue.