Speechmatics, a Cambridge, UK – based speech recognition technology company, raised $62 million in Series B funding.
The round was led by Susquehanna Growth Equity, with participation from existing investors AlbionVC and IQ Capital. In conjunction with the funding, Jonathan Klahr, Managing Director of Susquehanna Growth Equity will join the Speechmatics board.
The company intends to use the funds to expand operations, its business reach across the United States and Asia-Pacific, as well as its development efforts, improving infrastructure – particularly data center capacity – and advancing its research and development to deliver an accurate understanding of more voices.
Company: Cantab Research Limited
Round: Series B
Funding Month: June 2022
Lead Investors: Susquehanna Growth Equity
Additional Investors: AlbionVC and IQ Capital
Company Website: https://www.speechmatics.com/
Software Category: Deep Learning and Speech Recognition
About the Company: Led by Katy Wigdahl, CEO, Speechmatics leverages deep learning and speech recognition to provide an accurate and inclusive speech-to-text engine. It aims to understand every voice regardless of the speakers’ demographic, age, gender, accent, dialect, or location. Speechmatics works with customers and partners in any industry and with any use case – on-premises, via the cloud, and hybrid. Organizations in scenarios such as media & entertainment, contact centers, CRM, financial services, security, and software. Users include 3Play Media, Veritone, Deloitte UK, and Vonage, as well as government departments across the world, among others. The company also has offices in London, Boston, USA, Chennai, India, and Brno, in the Czech Republic.