Verbit

Verbit drives accessibility and inclusion of all students and employees with unmatched captioning and transcription technology which is based on AI and automatic speech recognition technology..

Business Overview

Active
Operating Status
Mar 2016
Founded
350
Employees
B2B
Business Model
Software
Offering Type
Description
Verbit is helping renowned institutions and corporations provide accessibility and engagement to students, employees and customers with its Real-Time Transcription (CART) technology. Our disruptive, live transcription and captioning solution harnesses the power of artificial and human intelligence to help organizations maximize the potential of their audio and video files for real-time results. Built on adaptive algorithms, Verbit's technology generates the most detailed speech-to-text files on the market, providing 99% accuracy at record-breaking speed. Verbits CART technology is transformative for many industries, namely higher education, legal, and media. For example, Verbits technology empowers universities to not only comply with the transcription and captioning required by the Americans with Disabilities Act, but improve the learning experiences of all students on campuses globally. Verbits flexible cloud system includes customizable templates and allows users to upload files directly, via API or through integrations with leading video hosting platforms. A robust platform provides customers with full visibility into the files that are being processed in real time. Verbits customized solution makes files searchable, accessible and actionable. Verbit has secured $65M in funding to date. Verbit's CART service empowers the unique learning needs of all individuals, helping them to succeed in their studies, careers and daily lives through effective content consumption.
Business Stage
Launched
Revenue Stage
Revenue Generating

Founders

Tom Livne
CEO
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Kobi Ben Tzvi
VP of Engineering
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Board Members and Advisors

Hock Chuan Tam
Board Observer
Jasper Masemann
Board Advisor
Tony Chen
Board Member
Saagar Kulkarni
Partner and Board Member
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Casber Wang
Board Member
Yanai Oron
General Partner and Board Member
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Ronen Nir
General Partner and Board Member
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Yossi Cohen
CEO and Board Advisor
Tom Livne
CEO
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Yaniv Jacobi
Managing Partner and Board Member
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Investors

Investor

Investor Type

Series Preference

Series A, Series B, Series F
Seed, Series A
Series A, Series B, Series C, Series D, Series F
Pre-Seed, Seed, Series A, Series B, Series C, Series D
Seed, Series A, Series B, Series D
Series B, Series C, Series D
Pre-Seed, Seed
Series C, Series D
Seed, Series A, Series B, Series C, Series D, Series E, Series F
Series A, Series B, Series C, Series D, Series E, Series F, Series G
Seed, Series A, Series B, Series C, Series D, Series E

Funding Rounds

$283,000,000
Total Funding

7

Funding Rounds
1.99x
Funding Growth
Series D
Last Funding Series

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Date Announced

Funding Round

Amount Raised

Investors

$37 M
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$157 M
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$60 M
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Exit Events and Acquisitions

Date Announced

Transaction

Consideration

Target

Acquirer

May 2021
Startup Acquisition
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VITAC
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Revenues

Date

Revenue Type

Amount

2021
ARR
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AI Technology Stack™

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AI Team Size
4
AI Technologies
AI Description
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AI Types
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ML Types
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Patents

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More Startups

STATUS
Active
FUNDING
$664,000,000
FUNDING STAGE
Pre-IPO
STATUS
Active
STATUS
Active
FUNDING
$6,000,000
FUNDING STAGE
Seed
STATUS
Active
FUNDING
$3,100,000
STATUS
Acquired
FUNDING
$27,500,000
FUNDING STAGE
Series B
STATUS
Active
FUNDING
$10,500,000
FUNDING STAGE
Series A
STATUS
Acquired
FUNDING
$10,500,000
FUNDING STAGE
Series A
STATUS
Active
STATUS
Acquired
FUNDING
$5,000,000
STATUS
Acquired
FUNDING
$6,800,000
FUNDING STAGE
Series B
STATUS
Active
STATUS
Inactive
STATUS
Acquired
FUNDING
$21,000,000
FUNDING STAGE
Series C
STATUS
Active
STATUS
Active

Startup Snapshot

Operating Status
Active
AI Team Size
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Total Funding
$283,000,000
Founded
March 2016
Funding Stage
Series D
Time Since Last Funding Round
4 months
Revenues 2021
ARR
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Competitors

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