Speech recognition software program firm Speechmatics has raised $62m (£50.3m) to help its enlargement into the US and Asia-Pacific in its current Sequence B spherical led by Susquehanna Development Fairness.
Headquartered in Cambridge, Speechmatics has constructed speech-to-text software program that may perceive 34 languages. In accordance with the agency it has been uncovered to “hundreds of thousands of hours” of “a whole bunch of hundreds” voices, lowering errors and bias in its synthetic intelligence (AI).
“The affected person capital will allow us to double down on our imaginative and prescient to shut the hole between humanity and machines, which is extremely thrilling,” mentioned Katy Wigdahl, CEO, Speechmatics.
The AI firm may even use the Sequence B capital to enhance its knowledge centre capability in addition to analysis and improvement.
Customers of the platform embrace Deloitte UK, 3Play Media and Veritone. Final 12 months the corporate launched its speech-to-text service on Microsoft’s Azure Marketplace.
Jonathan Klahr, managing director, Susquehanna Development Fairness mentioned: “We began monitoring Speechmatics when our portfolio corporations informed us that time and again Speechmatics win on accuracy in opposition to all the opposite choices together with these coming from ‘Large Tech’ gamers.”
As a part of the funding spherical, Klahr will be part of Speechmatics’s board.
Capital additionally got here from earlier traders AlbionVC and IQ Capital. The funding follows on from its £6m Series A in October 2019.
Speechmatics has workplaces in Cambridge, London, Boston, USA, Chennai, India and Czech Republic.