AI Transcription Leader Verbit Becomes a Unicorn Following $157 Million in Series D Funding
NEW YORK, June 8, 2021 /PRNewswire/ -- Verbit , the world's largest AI-powered transcription and captioning platform, today announced it has secured $157 million in Series D funding, giving the company a unicorn valuation of over $1 billion only four years after its inception.
- NEW YORK, June 8, 2021 /PRNewswire/ -- Verbit , the world's largest AI-powered transcription and captioning platform, today announced it has secured $157 million in Series D funding, giving the company a unicorn valuation of over $1 billion only four years after its inception.
- Verbit's total funding now exceeds $250 million, including debt financing from the Silicon Valley Bank.
- Following its recent acquisition of VITAC , the largest provider of captioning products and solutions in the U.S., Verbit is the No.
- With 6x year-over-year revenue growth and close to $100 million in annual recurring revenue, Verbit continues to expand into new verticals at a hyper-growth pace.