VentureBeat November 23, 2021
Kyle Wiggers

Verbit, a startup developing an AI-powered transcription platform, today announced that it secured $250 million, bringing its total capital raised to $550 million. The round — a series E, made up of a $150 million primary investment and $100 million in secondary transactions — was led by Third Point Ventures with participation from Sapphire Ventures, More Capital, Disruptive AI, Vertex Growth, 40North, Samsung Next, and TCP.

With the fresh capital, Verbit, which is now valued at $2 billion, plans to expand its workforce while supporting product research and development as well as customer acquisition efforts. Beyond this, CEO Tom Livne said that Verbit will pursue further mergers and acquisitions and “provide enhanced value” to its media, education, corporate, legal, and...

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Topics: AI (Artificial Intelligence), Investments, Technology, Trends, Voice Assistant
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