About Verbit
Verbit is a company based in New York (United States) founded in 2017 by Tom Livne.. Verbit has raised $532 million across 9 funding rounds from investors including European Union, BlackRock TCP Capital and Azura Partners. Verbit has completed 5 acquisitions, including Automatic Sync, Take 1 and Take Note. Verbit offers products and services including Captioning Service, Transcription Service, Audio Description, Translation Service, and Note Taking. Verbit operates in a competitive market with competitors including Otter.ai, Deepgram, Descript, 3Play Media and YITU, among others.
- Headquarter New York, United States
- Founders Tom Livne
- Stage Unicorn
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Sectors
Technology
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Email
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Phone
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Website
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Social
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- Legal Name Verbit, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$532 M (USD)
in 9 rounds
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Latest Funding Round
$250 M (USD), Series E
Nov 23, 2021
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Investors
European Union
& 22 more
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Employee Count
Employee Count
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Investments & Acquisitions
Automatic Sync
& 4 more
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Products & Services of Verbit
Verbit offers a comprehensive portfolio of products and services, including Captioning Service, Transcription Service, Audio Description, Translation Service, and Note Taking. 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.
Delivers live and recorded captioning for media content.
Provides accurate audio transcription with actionable insights.
Offers descriptions of visual elements for accessibility.
Supports translation in over 50 languages for content.
Generates immediate drafts and final notes from audio.
Enables global reach through content dubbing.
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Legal and Compliance
20 people
Leadership Team
14 people
Transcriptionist Team
14 people
Software Development Team
13 people
Human Resources and Administration
5 people
Product Management Team
5 people
Transcriber Team
4 people
Transcription Team
3 people
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Funding Insights of Verbit
Verbit has successfully raised a total of $532M across 9 strategic funding rounds. The most recent funding activity was a Series E round of $250 million completed in November 2021. 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 9
- Last Round Series E — $250.0M
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First Round
First Round
(01 Jan 2018)
- Investors Count 23
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov, 2021 | Amount | Series E - Verbit | Valuation | Third Point Ventures | |
| Jun, 2021 | Amount | Series D - Verbit | Valuation | Sapphire Ventures | |
| Nov, 2020 | Amount | Series C - Verbit | Valuation | Sapphire Ventures |
| 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 |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Verbit
Verbit has secured backing from 23 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include European Union, BlackRock TCP Capital and Azura Partners. 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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Corporate-backed venture capital is focused on fintech and multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital firm partnering with enterprise software companies and early-stage funds.
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Founded Year | Domain | Location | |
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Early-stage AI startups are funded by Disruptive AI.
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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 Verbit
Verbit has strategically engaged in corporate development activities, having acquired 5 companies. Notable acquisitions include Automatic Sync, Take 1 and Take Note. 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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Provider of language transcription services
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2006 | ||||
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Language services are provided by Automatic Sync since 2004.
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2004 | ||||
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Captioning services are provided to the entertainment industry.
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1999 |
| 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 - Verbit
| 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 |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Verbit Comparisons
Competitors of Verbit
Verbit 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, Descript, 3Play Media and YITU, 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 |
|---|---|---|---|---|
| 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 |
Automated transcribing solution provider for audio files
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| domain | founded_year | HQ Location |
Captioning, transcription, and translation solutions are supplied to enterprises.
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| domain | founded_year | HQ Location |
AI-based decision intelligence platforms are provided for multiple sectors.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| 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 Verbit
Frequently Asked Questions about Verbit
When was Verbit founded?
Verbit was founded in 2017 and raised its 1st funding round 1 year after it was founded.
Where is Verbit located?
Verbit is headquartered in New York, United States. It is registered at New York, New York, United States.
Who is the current CEO of Verbit?
Yair Amsterdam is the current CEO of Verbit.
Is Verbit a funded company?
Verbit is a funded company, having raised a total of $532M across 9 funding rounds to date. The company's 1st funding round was a Series C of $60M, raised on Jan 01, 2018.
What does Verbit do?
Verbit was founded in 2017 in New York, United States, as a provider in the AI and natural language processing sector. A cloud-based platform leveraging deep learning neural networks is offered for building speech recognition applications. These are applied in areas such as court reporting, depositions, education for disabilities, distance learning, media production, and business analysis, with operations centered in the U.S.
Who are the top competitors of Verbit?
What products or services does Verbit offer?
Verbit offers Captioning Service, Transcription Service, Audio Description, Translation Service, and 2 more products and services.
How many acquisitions has Verbit made?
Verbit has made 5 acquisitions, including Automatic Sync, Take 1, and Take Note.
Who are Verbit's investors?
Verbit has 23 investors. Key investors include European Union, BlackRock TCP Capital, Azura Partners, Third Point Ventures, and Sapphire Ventures.
What is Verbit's valuation?
The valuation of Verbit is $2B as of Nov 2021.
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