UK – Speechmatics, a Cambridge, UK – based speech recognition technology company, raised $62m in Series B funding.
The round was led by Susquehanna Growth Equity with participation from existing investors AlbionVC and IQ Capital. In conjunction with the funding, Jonathan Klahr, Managing Director of Susquehanna Growth Equity will join the Speechmatics board.The company intends to use the funds to expand operations, its business reach across the United States and Asia-Pacific, as well as its development efforts, improving infrastructure – particularly data centre capacity – and advancing its research and development to deliver accurate understanding of more voices. Led by Katy Wigdahl, CEO, Speechmatics leverages deep learning and speech recognition to provide an accurate and inclusive speech-to-text engine. Its aim is to understand every voice regardless of the speakers’ demographic, age, gender, accent, dialect, or location. The engine, now trained through exposure to hundreds of thousands of individual voices using millions of hours of unlabelled, more representative voice data that doesn’t require human intervention, already understands 34 languages for live and pre-recorded media. Its neural networks consider acoustics, languages, dialects, multiple speakers, punctuation, capitalisation, context and implicit meanings. Features also include entity formatting (formatting of numbers, currencies, and addresses). Speechmatics works with customers and partners in any industry and with any use case – on-premises, via the cloud, and hybrid. Organizations in scenarios such as media & entertainment, contact centers, CRM, financial services, security, and software. Users include 3Play Media, Veritone, Deloitte UK, and Vonage, as well as government departments across the world, among others.The company also has offices in London, Boston, USA, Chennai, India and Brno, in the Czech Republic. 28/06/2022
