Verbit Raises $31 Million Series B to Add New Languages for Speech...

Financing

Verbit Raises $31 Million Series B to Add New Languages for Speech Recognition Product

Jan 15, 2020

Verbit, a Tel Aviv, Israel-based provider of classroom transcription and captioning services through speech recognition, has raised a $31 million Series B round. Growth equity firm Stripes led the round. Viola Ventures, Vertex Ventures, HV Ventures, Oryzn Capital and ClalTech participated.

Founded in 2017, Verbit plans to spend the money toward new languages it can transcribe, according to a statement Wednesday. Verbit’s software supports 30 languages. Harvard, Stanford and Coursera are among its 150-plus customers. The company has raised $65 million to date.

Verbit isn’t the only edtech startup to interest investors with speech recognition technology. Amira Learning, Soapbox Labs and Bamboo Learning all raised venture capital in 2019.

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