Speechmatics convinces further investors29. June 2022
Speechmatics convinces further investors
Speech-to-text platform Speechmatics has announced $62 million in Series B funding to expand its business. The Cambridge, U.K.-based startup has developed an AI engine that translates a person’s speech into text, regardless of accent, dialect, age and other characteristics.
The engine has been trained using millions of hours of unlabeled speech data, covering hundreds of thousands of voices. It understands 34 languages , for both live and recorded media. It takes into account acoustics, dialects, context, multiple speakers, punctuation and more when translating speech to text.
The new funding will enable Speechmatics to continue its expansion in the U.S. and Asia-Pacific , increase data center capacity, add more languages and improve the accuracy of its algorithms.
CEO Katy Wigdahl stated the following goal: “to understand every voice, in multiple languages.”
Susquehanna Growth Equity led the funding round, which also included participation from current investors AlbionVC and IQ Capital. Jonathan Klahr, managing director of Susquehanna, will join Speechmatics’ board of directors.