Verbit joined the Unicorn Club on June 8, 2021, after raising a $157 million Series D funding round led by Sapphire Ventures, which valued the company at $1 billion. Headquartered in New York City, United States, Verbit develops cloud-based speech recognition and transcription solutions powered by AI and deep learning.
Keep reading to understand how Verbit combines human intelligence with machine learning to transform voice data into accurate, scalable insights for global enterprises.
What Is Verbit and What Does It Do?
Founded in 2017, Verbit is a provider of AI-driven speech recognition and transcription technology designed for enterprise, legal, and educational use cases. The platform leverages advanced deep learning neural networks to deliver high-accuracy, real-time transcription and captioning.
Its technology serves sectors such as court reporting, education accessibility, media production, and corporate communication, where precise speech-to-text conversion is critical. Verbit’s hybrid model combines automated speech recognition (ASR) with human proofreading, achieving industry-leading accuracy levels while maintaining scalability.
The company’s broader mission is to make all audio and video content fully searchable, accessible, and actionable through AI-enhanced language intelligence.
How Much Funding Has Verbit Raised?
1. Series E Round
- Amount Raised: $250 million
- Date: November 23, 2021
- Valuation: $2 billion
- Lead Investors: Third Point Ventures, Sapphire Ventures
- Purpose: Strengthen AI transcription technology and expand global enterprise reach
2. Series D Round
- Amount Raised: $157 million
- Date: June 8, 2021
- Valuation: $1 billion
- Lead Investors: Sapphire Ventures
- Purpose: Accelerate R&D, enhance NLP capabilities, and scale into new enterprise sectors
3. Earlier Rounds (Seed to Series C)
- Cumulative Funding: ~$143 million
- Key Investors: Viola Ventures, The Private Shares Fund, Vertex Ventures
- Purpose: Platform development, team growth, and market expansion
Total Funding Raised: ~$550 million
Latest Funding Date: November 23, 2021
Latest Valuation: ~$2 billion
Employee Count: 535 (as of December 31, 2023)
Key Investors
1. Sapphire Ventures
- Details: Growth-stage venture capital firm with investments in AI, SaaS, and enterprise platforms.
- Focus Areas: B2B software, machine learning infrastructure, and enterprise productivity tools.
2. The Private Shares Fund
- Details: Investment fund focused on late-stage private technology companies with strong growth trajectories.
- Focus Areas: Fintech, AI, and digital transformation sectors.
Where Is Verbit’s Headquarters?
Verbit is headquartered in New York City, United States, with additional operations in Tel Aviv. The company’s global footprint supports clients across North America, Europe, and Asia, offering scalable solutions for industries with high transcription accuracy demands.
What’s Next for Verbit?
Verbit continues to push the boundaries of automated speech recognition (ASR) and natural language understanding (NLU). Its roadmap focuses on AI-driven multilingual transcription, enterprise compliance integrations, and media accessibility tools. The company is also expanding its partnerships with educational institutions and corporate clients to improve digital accessibility.
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