About Descript
Descript is a company based in San Francisco (United States) founded in 2017 by Andrew Mason.. Descript has raised $100.59 million across 4 funding rounds from investors including OpenAI, Andreessen Horowitz and Redpoint Ventures. Descript has completed 2 acquisitions, including Lyrebird and SquadCast. Descript offers products and services including Video Editor, Podcasting Tool, Transcription Service, and AI Avatars. Descript operates in a competitive market with competitors including Otter.ai, Deepgram, Wondershare, Verbit and Animoto, among others.
- Headquarter San Francisco, United States
- Founders Andrew Mason
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Sectors
Media & EntertainmentTechnology
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Phone
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Website
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Social
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- Legal Name Descript, Inc.
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Products & Services of Descript
Descript offers a comprehensive portfolio of products and services, including Video Editor, Podcasting Tool, Transcription Service, and AI Avatars. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Enables text-based editing of videos with AI enhancements.
Facilitates multitrack audio editing like text documents.
Automatically transcribes audio with high accuracy.
Creates custom avatars for video content.
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Funding Insights of Descript
Descript has successfully raised a total of $100.59M across 4 strategic funding rounds. The most recent funding activity was a Series C round of $50.59 million completed in November 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Series C — $50.6M
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First Round
First Round
(12 Dec 2017)
- Investors Count 26
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Nov, 2022 | Amount | Series C - Descript | Valuation | OpenAI | |
| Jan, 2021 | Amount | Series B - Descript | Valuation | Spark Capital | |
| Sep, 2019 | Amount | Series A - Descript | Valuation | a16z , Redpoint Ventures |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
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Investors in Descript
Descript has secured backing from 26 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include OpenAI, Andreessen Horowitz and Redpoint Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Venture capital investments in technology sectors are handled by Andreessen Horowitz.
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Founded Year | Domain | Location | |
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Redpoint Ventures is engaged in venture capital investments.
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Founded Year | Domain | Location | |
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Spark Capital is engaged in venture capital investments.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Descript
Descript has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include Lyrebird and SquadCast. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Speech synthesis from audio clips is enabled for developers.
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2017 | ||||
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High-quality remote audio for podcasts is enabled via a platform.
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2017 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Descript
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
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Descript Comparisons
Competitors of Descript
Descript operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Otter.ai, Deepgram, Wondershare, Verbit and Animoto, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
AI-based voice transcription for meetings is provided via cloud software.
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| domain | founded_year | HQ Location |
AI-based speech transcription software is provided using deep learning models.
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| domain | founded_year | HQ Location |
Developer of software for video editing, PDF management, and data recovery
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| domain | founded_year | HQ Location |
Speech recognition applications are developed via cloud-based AI platform.
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| domain | founded_year | HQ Location |
Cloud-based video editing platform for enterprises
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| domain | founded_year | HQ Location |
Video creation, interactive elements, and hosting software are provided.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Descript
Frequently Asked Questions about Descript
When was Descript founded?
Descript was founded in 2017.
Where is Descript located?
Descript is headquartered in San Francisco, United States. It is registered at San Francisco, California, United States.
Who is the current CEO of Descript?
Andrew Mason is the current CEO of Descript. They have also founded this company.
Is Descript a funded company?
Descript is a funded company, having raised a total of $100.59M across 4 funding rounds to date. The company's 1st funding round was a Series A of $15M, raised on Dec 12, 2017.
What does Descript do?
Descript was established in 2017 in San Francisco, United States, within the speech recognition and transcription sector. Automated and manual services for transcribing audio and video files are offered, enabling quick processing through advanced technology. Transcripts can be corrected manually, with audio adjustments made inversely via text editing. Collaboration features, including comments, are included for team use. Human transcription is billed per minute.
Who are the top competitors of Descript?
What products or services does Descript offer?
Descript offers Video Editor, Podcasting Tool, Transcription Service, and AI Avatars.
How many acquisitions has Descript made?
Who are Descript's investors?
Descript has 26 investors. Key investors include OpenAI, Andreessen Horowitz, Redpoint Ventures, Spark Capital, and Safe Superintelligence Inc.
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