What is Verbit?
Founded in 2017 and headquartered in New York, Verbit is a global technology company that leverages a sophisticated blend of artificial and human intelligence to deliver advanced transcription and captioning solutions. The company's platform is designed to provide accurate, fast, and scalable services for a wide range of industries, including media, legal, education, and corporate sectors. Verbit's commitment to innovation and its ability to adapt to evolving market demands have positioned it as a leader in the competitive field of AI-driven content intelligence.
How much funding has Verbit raised?
Verbit has raised a total of $532M across 6 funding rounds:
Angel/Seed
$11M
Series A
$23M
Series B
$31M
Series C
$60M
Series D
$157M
Series E
$250M
Angel/Seed (2018): $11M with participation from Oryzn Capital
Series A (2019): $23M led by Oryzn Capital, HV Ventures, Vertex Ventures, Viola Group, Vintage Investment Partners, and Claltech
Series B (2020): $31M supported by ClalTech, Oryzn Capital, HV Ventures, Stripes, Viola Group, and Vertex Ventures
Series C (2020): $60M featuring HV Ventures, Vertex Ventures, Vertex Growth, Stripes, ClalTech, and Sapphire Ventures
Series D (2021): $157M backed by Sapphire Ventures, Vertex Ventures, HV Capital, Stripe, Oryzn Capital, Third Point, Omer Cygler, Claltech, Viola Group, Vertex Growth Fund, Azura, More Capital Group, and ICON Capital
Series E (2021): $250M with participation from Third Point and Sapphire Ventures
Key Investors in Verbit
Sapphire Ventures
Sapphire Ventures is a venture capital firm focused on investing in and providing services to technology companies. They are based in Palo Alto, California.
Vertex Ventures
Vertex Ventures US is an early-stage venture capital firm that supports founders creating a smarter digital economy through B2B software. They focus on partnering with and investing in early-stage infrastructure and SaaS companies, leveraging their experience as former founders and operators.
Third Point
Third Point Management is a New Yorkbased hedge fund founded by Daniel S. Loeb in 1995. The firm operates as an employee-owned and SEC-registered investment advisor. Third Point primarily invests in public equity, fixed income, and ADR markets.
What's next for Verbit?
With the recent infusion of $250M in major strategic investment, Verbit is poised for accelerated growth and further innovation. This significant backing, part of its $532M in total capital, suggests a strong investor confidence in the company's business model and future prospects. The company is likely to focus on expanding its service offerings, enhancing its AI capabilities, and broadening its global market reach. Strategic partnerships and potential acquisitions may also be on the horizon as Verbit aims to solidify its position as a dominant force in the transcription and captioning industry.
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