{"_id":"agxzfmlsbGlzdHNpdGVyGAsSC05ld19Db21wYW55GICAwJfas5kJDA","lastupdate":"2024-07-09T00:00:00.000Z","update_date":"2024-07-09T00:00:00.000Z","lastModified":"Oct 13, 2025","active":1,"confidence_score":101,"confidence_score_reason":"markets","urlname":"verbit-software","minimal_profile":null,"status":"","fullstatus":"","acquired":0,"hide_reason":null,"hide_reason_data":null,"hide_reasons":[{"id":"8257rxn4P8EFQOmS5hAAauHyYMhhxrA5u6yWX4XUShpybX3AMNo3Y9","reason":"Pending approval - External entity"},{"id":"aOIaOiiqfpA8UMw6VCTh8ueRmkG3lzDy1NGqEOaJbe11OrCzMTCCd6","reason":"The company is a service provider"},{"id":"ddgjKuc3GgH8E5UehSVJviRl471BCajL1plO8HtGoOojy2NivYqQ7x","reason":"Owner asked to delete"},{"id":"EjOKM211H1ira9J63oaGPuUxvr7Oba55TZo3NWsFO5uhbNu7o4x4zD","reason":"The company is not Israeli"},{"id":"J7fQJtnT3GdWWSE3MD8rzaW65LJ4jEIKxSZnneQiReONdZjG3zIqWe","reason":"Owner asked to hide in the meantime"},{"id":"NxlAC3ReFb5ksiYNLp2FnUyluoJzwRCYfcF7xpTZaPM53SdWQ5kv0B","reason":"Pending approval"},{"id":"RhC1tlwXzioK0MfzBII3H2wepEfQOfKVktmdwqeqTJjGi3ZaBWUqZo","reason":"The company is not innovative"},{"id":"S0Ed46vNI6vZYVxLedANWGjas23K6hY0QdsCtiGYL7lshqIEdLV3sA","reason":"The company ceased operations in Israel"},{"id":"VTANq7bEvlsEcPjp0ghelXfShaCosgndONGjgU730aAOxXtaDIF5j3","reason":"This is a product of an existing company"}],"type":"Startup","logokey":"$6DWylGfY7X8cBf5zGxq626IZXzgcm8DEJqk5aalRrksVx0kKHWPzVu.png","name":"Verbit","oneliner":"A/V Captioning and Transcription Solutions","registrar":"515547735","website":"https://verbit.ai","careerspage":"https://verbit.ai/careers-listing","founded_month":3,"founded_year":2017,"formernames":[],"sociallinks":{"twitter":"https://twitter.com/verbit_","youtube":"https://www.youtube.com/@Verbitai","facebook":"https://www.facebook.com/verbit.inc","linkedin":"https://www.linkedin.com/company/18106245","instagram":"https://www.instagram.com/verbit.ai/"},"social":["https://www.facebook.com/verbit.inc","https://www.youtube.com/@Verbitai","https://www.linkedin.com/company/18106245","https://twitter.com/verbit_","https://www.instagram.com/verbit.ai/"],"flattenedsociallinks":"https://www.facebook.com/verbit.inc|https://www.youtube.com/@Verbitai|https://www.linkedin.com/company/18106245|https://twitter.com/verbit_|https://www.instagram.com/verbit.ai/","apps":{"appstore":"","googleplay":""},"is_claimed_by_owner":1,"employees":"500+","employees_exact":1590,"patent":1,"raised":532000000,"stage":"E","public_stage":"E","primary_sector_key":"agxzfmlsbGlzdHNpdGVyJAsSF0Jhc2VDbGFzc2lmaWNhdGlvbk1vZGVsGICA4JvzluQKDA","primary_sector":"Media & Entertainment Technologies","alternativenames":["Verbit.ai"],"about":"Verbit provides vertical-built voice AI solutions, equipping more than 2,000 businesses and institutions with the tools they need to offer engaging and equitable experiences that not only meet accessibility guidelines, but make verbal information searchable and actionable. Since its founding in 2017, Verbit has grown rapidly into a unicorn company with a $2 billion valuation and a global presence. Verbit combines its in-house AI with one of the largest professional captioner workforces in the world to produce premier captioning and transcription results. ","climatetech_description":null,"is_climatetech_relevant":null,"phone":"+97239678803","country":null,"address":{"israeli":[{"id":"SrM2PatLelv0ZJOcKVsuV5mcUr1tnxa64BOVgv2AZE4kof7mNVnbLR","city":"Giv'atayim","type":null,"address":"Ariel Sharon St 4, Giv'atayim, Israel","placeid":"ChIJEbhcKLxLHRURsHTQoIcMY4o","notactive":null,"openeddate":null,"registrarid":null,"firstrdcenter":null,"registrarname":null}],"officesabroad":[{"id":"khbsZCSZIBAfuVMqTilByM4cKMU7o0rGG2MaruGe9JYtX2LTjEpeuB","city":"New York","address":"169 Madison Ave #2316, New York, NY 10016, USA","country":"United States","placeid":"Ei4xNjkgTWFkaXNvbiBBdmUgIzIzMTYsIE5ldyBZb3JrLCBOWSAxMDAxNiwgVVNBIiAaHgoWChQKEgmtJhcoqFnCiRGA-9OXRi2t0xIEMjMxNg"}]},"headquarter_address":null,"district":"Center District","news":[{"id":"XONtK0G5GoqqdUl33uGUyete2bddlB3kAhLrS0tGyN21qT9in2lxqW","date":"Mar 23, 2025","link":"https://www.lawnext.com/2025/03/verbit-launches-legal-visor-an-ai-powered-tool-to-deliver-real-time-deposition-insights.html","source":"www.lawnext.com","visible":1,"analysis":{"tags":"AI technology","round":null,"company":"Verbit","layoffs":null,"summary":"Verbit has launched Legal Visor, an AI-powered platform designed to provide real-time insights during legal proceedings. The platform uses Verbits Captivate technology to offer highly accurate real-time transcription and features such as inconsistency detection, intelligent search, and multi-language support. Developed in collaboration with law firms like Fisher Phillips and Smith, Gambrell & Russell, Legal Visor aims to enhance the legal workflow by providing actionable intelligence. Future developments include sentiment analysis and body language technology. The product is available through a subscription model and is being demonstrated at Legalweek and ABA Techshow.","partners":["Fisher Phillips","Smith, Gambrell & Russell"],"customers":null,"eventType":null,"investors":null,"confidence":10,"key_topics":["AI technology","Legal industry","Real-time insights","Transcription","Partnerships"],"date_of_event":"today","product_stage":"released","investment_date":null,"acquired_company":null,"valuation_amount":null,"impact_on_company":"growth-positive","investment_amount":null,"structured_issues":["Product Stage","Partners"],"acquisition_amount":null,"FDA approved/pending approval":null,"AI technology developing/using":"developing","structuredIssuesShow":"#Product Stage  #Partners","entityGrowthIconPath":"url(/assets/circle-green.svg);"},"sentiment":"growth-positive","analysisId":"nwdqdihUbiRcrAsKWHOhmEET0uZBmfCCcaT2RwftlWbwnPdhQO8QFz","news_summary":"Verbit Launches Legal Visor, An AI-Powered Tool To Deliver Real-Time Deposition Insights","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"KEf1fiFR2ddJPFg3y3TQfCLrHtcfV5cbKjpcEV7HwWyy9W57e18gCC","date":"Jun 26, 2024","link":"https://www.calcalistech.com/ctechnews/article/bya6djcic","source":"www.calcalistech.com","visible":1,"analysis":{"tags":"Management Changes, Layoffs, Expand","company":"Verbit","layoffs":"Significant round of layoffs previously, but no current plans for layoffs","summary":"Verbit, a transcription technology company, has appointed Yair Amsterdam as its permanent CEO. Amsterdam, who has been serving as Acting CEO since February, replaced Tom Livne, the companys founder and former CEO. The company has faced challenges including Livnes departure and a significant round of layoffs due to a decrease in revenues. However, Amsterdam stated that the company has growth plans and does not need to raise capital in the near future. Verbit has launched several technological innovations for its clients and has a strategic partnership with ENCO. The company has over 4,000 clients, including Fox, CNN, NBC, Harvard, Stanford, London Business School, Coursera, and Kaltura.","partners":["ENCO"],"customers":["Fox","CNN","NBC","Harvard","Stanford","London Business School","Coursera","Kaltura"],"investors":"Not mentioned","confidence":9,"key_topics":["CEO Appointment","Growth Plans","AI Tools","Transcription Technology","Strategic Partnership"],"date_of_event":"Not mentioned","valuation_amount":"Not mentioned","impact_on_company":"Growth-Positive","investment_amount":"Not mentioned","structured_issues":["Management Changes","Layoffs","Expand"],"acquisition_amount":"Not mentioned","structuredIssuesShow":"#Management Changes  #Layoffs  #Expand","entityGrowthIconPath":"url(/assets/circle-green.svg);"},"sentiment":"Growth-Positive","analysisId":"aEULPUyiwV0pwpfeJbxX1l5HhdY1i8p126wphj1u8fBQAGDiQipv7g","news_summary":"Verbit appoints Yair Amsterdam as permanent CEO, focuses on AI and growth | CTech","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"lzuyeE9djrFIaTj054HY2bDH3uRuJlFG1KT9vaJ1wIEUlet0dN0TQU","date":"Jun 17, 2024","link":"https://www.wlns.com/business/press-releases/ein-presswire/720691737/verbit-launches-revolutionary-real-time-transcription-service-for-legal-proceedings/","source":"www.wlns.com","visible":1,"analysis":{"tags":"AI, Legal, Transcription","company":"Verbit","layoffs":"N/A","summary":"Verbit, a provider of AI verbal intelligence, has introduced a live transcription service, Legal Real-Time, to its suite of legal-focused solutions. The service offers real-time transcription for legal proceedings, helping digital court reporters better meet their clients needs. The service is accessible via a secure, intuitive web-based platform designed specifically for the court reporting community. Verbits CEO, Yair Amsterdam, stated that the service is designed to support all court reporting agencies live transcription needs. The introduction of Legal Real-Time bolsters Verbits suite of solutions, tailor-made for the legal industry.","partners":"N/A","customers":"Court Reporting Agencies, Lawyers, Legal Professionals","investors":"N/A","confidence":9,"key_topics":"AI, Legal Transcription, Court Reporting, Legal Real-Time, Verbit","date_of_event":"June 18, 2024","valuation_amount":"N/A","impact_on_company":"growth-positive","investment_amount":"N/A","structured_issues":"Customers, Expand","acquisition_amount":"N/A","structuredIssuesShow":"#Customers, Expand","entityGrowthIconPath":"url(/assets/circle-green.svg);"},"sentiment":"growth-positive","analysisId":"eKf1ST53N5aPtEUASEaInFDG8eEtSa0eyf7rwCVfWwjKM90tt5iUzX","news_summary":"Verbit Launches Revolutionary Real-Time Transcription Service for Legal Proceedings","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"ecdslNP6QMQeSucu6Q0LDAWJvusrrlDIgg1gWVH7ALabHR7eG01TkG","date":"Mar 5, 2024","link":"https://en.globes.co.il/en/article-verbit-laying-off-dozens-of-employees-1001472967","source":"en.globes.co.il","visible":1,"analysis":{"tags":"Management Changes, Layoffs","company":"Verbit","layoffs":"Dozens, including 20 in Israel","summary":"Verbit, an Israeli captioning and transcription solutions company, has begun laying off dozens of employees following the replacement of its CEO Tom Livne with Yair Amsterdam. The layoffs, which include 20 in Israel, are believed to be related to the companys human transcription activities. Verbit, which has 500 employees including 120 in Israel, provides transcription services based on special translation algorithms and an army of transcribers. The company has been challenged by AI technology, which has caused a significant disruption in the market. Verbit recently launched an AI-based transcription product for the legal world.","partners":"NA","customers":"3000","investors":"Oryzn Capital","confidence":9,"key_topics":["CEO Replacement","Layoffs","AI Technology","Transcription Market","New Product"],"date_of_event":"March 5, 2024","valuation_amount":"NA","impact_on_company":"growth-negative","investment_amount":"NA","structured_issues":["Management Changes","Layoffs"],"acquisition_amount":"NA","structuredIssuesShow":"#Management Changes  #Layoffs","entityGrowthIconPath":"url(/assets/circle-red.svg);"},"sentiment":"growth-negative","analysisId":"FYOy9qtFKeM8SIIMnyXaGEfwgOCfdkViv8EOJOD3I7WXBBnPwUh0ze","news_summary":"Verbit laying off dozens of employees","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"Aw4A7TzlxMKWdJdXd2BQXg6Z0d48iw6wXwe1eQdBBcjleCM4WqEpga","date":"Feb 4, 2024","link":"https://www.calcalistech.com/ctechnews/article/r1m9e50ca","source":"www.calcalistech.com","visible":1,"analysis":{"tags":"Management Changes, Layoffs","company":"Verbit","layoffs":"60","summary":"Verbit, an AI-powered transcription and captioning platform, announced that its President Yair Amsterdam has been appointed as the Acting CEO, replacing Tom Livne who has stepped down to become Chairman Emeritus of the Board of Directors. This comes after the company faced a series of challenges, including layoffs. Despite raising $250 million in a Series E funding round in August 2021 at a $2 billion valuation, the company has struggled to maintain its growth trajectory. Verbit plans to enhance its products with Generative AI and maintain a strong balance sheet for continued investment and growth.","partners":null,"customers":null,"investors":null,"confidence":9,"key_topics":["CEO Change","Layoffs","AI","Transcription","Investment"],"date_of_event":"Not specified","valuation_amount":"$2 billion","impact_on_company":"growth-negative","investment_amount":"$250 million","structured_issues":["Management Changes","Layoffs"],"acquisition_amount":null,"structuredIssuesShow":"#Management Changes  #Layoffs","entityGrowthIconPath":"url(/assets/circle-red.svg);"},"sentiment":"growth-negative","analysisId":"Hwx1lpwrraMz6YYxM1dLeOIdX8qOj5O1IZXsejOKwEzU9kaQnjP3il","news_summary":"Verbit appoints Yair Amsterdam as Acting CEO in place of Tom Livne | CTech","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"BsxFXB7UD3TiXseA2JnjwUfkFffGHhcmXEaN0fCTnTOLj0wVlWIgRI","date":"Feb 3, 2024","link":"https://en.globes.co.il/en/article-verbit-mulls-merger-with-us-co-3play-media-1001469354","source":"en.globes.co.il","visible":1,"analysis":{"tags":"Merger, Investment","company":"Verbit, 3Play Media","layoffs":"Not mentioned","summary":"Israeli transcription company Verbit is considering a merger with Boston-based transcription giant 3Play Media, with the collaboration of US investment bank Goldman Sachs. The merger would form a unified profitable company with an annual recurring revenue of $130 million. Both companies are privately-held and operate in a market that is rapidly transitioning from human transcription to AI-based transcription. Verbits CEO, Tom Livne, is expected to step down before the end of the first quarter and will become Verbits chairman. A new CEO will be hired, and the company is expected to streamline by the end of the year.","partners":"Goldman Sachs","customers":"Not mentioned","investors":"Goldman Sachs, Riverside Partner, Oryzn Capital","confidence":9,"key_topics":["Merger","Investment","Management Changes","AI-based Technologies","Profitability"],"date_of_event":"February 4, 2024","valuation_amount":"Verbit: $2 billion, 3Play Media: $90 million","impact_on_company":"growth-positive","investment_amount":"Not mentioned","structured_issues":["Acquisition","Investment","Management Changes"],"acquisition_amount":"Not mentioned","structuredIssuesShow":"#Acquisition  #Investment  #Management Changes","entityGrowthIconPath":"url(/assets/circle-green.svg);"},"sentiment":"growth-positive","analysisId":"KgtbryECZKONx0nOCXs6cRCyPSNqxBDucNLviYgI4OU5xfMzXurNNy","news_summary":"Verbit mulls merger with US co 3Play Media","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"R6LZF2dMBr66AzBxtOqKwNaQDcl6BQ4ypAbRx8aVEVbKAHNLINdejq","date":"Jan 28, 2024","link":"https://www.calcalist.co.il/calcalistech/article/s1zuf079t","source":"www.calcalist.co.il","visible":1,"analysis":{"tags":"Management Changes, Investment","company":"Vorbit","layoffs":"Not mentioned","summary":"Israeli unicorn Vorbit is seeking a new CEO to replace Tom Libna, one of the companys founders. This comes after the company raised $250 million at a valuation of $2 billion in August 2021. However, the companys revenue has not grown in the past year, standing at about $80 million, and growth beyond this does not seem to be on the horizon. The company still has about $100 million in its coffers, which allows it to focus well on its future. The company did not respond to a request for comment.","partners":"Not mentioned","customers":"Not mentioned","investors":"Not mentioned","confidence":8,"key_topics":["CEO Replacement","Company Valuation","Revenue Decline","Acquisitions","Future Plans"],"date_of_event":"Not specified","valuation_amount":"$2 billion","impact_on_company":"Growth-Negative","investment_amount":"$250 million","structured_issues":["Management Changes","Investment"],"acquisition_amount":"Not mentioned","structuredIssuesShow":"#Management Changes  #Investment","entityGrowthIconPath":"url(/assets/circle-red.svg);"},"sentiment":"Growth-Negative","analysisId":"2KzvhBAFqEUYIrlFzBbZUVW5fg9IXaeIky4q1nIr0dXjyZCUNSWHDY","news_summary":"היוניקורן ורביט מחפש מנכ\"ל חדש - במקום המייסד תום ליבנה | כלכליסט","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"hoAbGkbvBlLLC7v0lXwjxEmunMqzVFG93QnWF4H8be2zsXQzqQ5lOI","date":"Jan 28, 2024","link":"https://www.calcalistech.com/ctechnews/article/bk8tvynqa","source":"www.calcalistech.com","visible":1,"analysis":{"tags":"CEO Change, Layoffs","company":"Verbit","layoffs":"60","summary":"Verbit, an Israeli transcription company, is seeking a new CEO to replace co-founder Tom Livne. The companys revenues have stagnated at around $80 million over the past year, and it has faced challenges integrating companies it has acquired. Additionally, the rise of other artificial intelligence technologies has affected its revenue as clients have chosen cheaper alternatives. Despite these issues, Verbit has a healthy cash reserve of around $100 million. The company laid off 60 employees in July, and currently employs 1,048 people, double the number from a year ago due to the conversion of many transcribers from freelancers to employees.","partners":null,"customers":null,"investors":null,"confidence":9,"key_topics":["CEO Change","Layoffs","Revenue Plateau","Acquisition Struggles","AI Competition"],"date_of_event":"Not specified","valuation_amount":"$2 billion","impact_on_company":"growth-negative","investment_amount":null,"structured_issues":["Management Changes","Layoffs"],"acquisition_amount":null,"structuredIssuesShow":"#Management Changes  #Layoffs","entityGrowthIconPath":"url(/assets/circle-red.svg);"},"sentiment":"growth-negative","analysisId":"X0OcOqYtLRiZIUj0105sU9HwAIP23YC5w4iNUuL1E2ACD2TFhUFr7R","news_summary":"Transcription unicorn Verbit searching for new CEO to replace Tom Livne | CTech","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"EhOE6VF3Nn2VShzhIaHNACbVGkAOFQsgV1ZSchumDhEyjAY4qZeeDT","date":"Aug 31, 2023","link":"https://nocamels.com/2023/08/transcription-startup-unveils-new-generative-ai-tool-for-higher-ed/","source":"nocamels.com","visible":1,"analysis":{"tags":"generative AI, transcripts, captions","company":"Verbit","layoffs":null,"summary":"Verbit, an Israeli startup, has launched Gen.V, a generative AI service that can analyze transcripts and provide automatic summaries and headline suggestions. The company is focusing on using generative AI to improve its product for users in higher education and plans to expand into other industries. Verbits services have already been used by over 3,000 businesses and institutions across various sectors.","partners":null,"customers":null,"investors":null,"confidence":8,"key_topics":["generative AI","transcripts","captions","higher education","industry-specific applications"],"date_of_event":null,"valuation_amount":null,"impact_on_company":"growth-positive","investment_amount":null,"structured_issues":["Customers","Expand"],"acquisition_amount":null,"structuredIssuesShow":"#Customers  #Expand","entityGrowthIconPath":"url(/assets/circle-green.svg);"},"sentiment":"growth-positive","analysisId":"GDjdhHxkOnjHmW2sTsdhgn4XjATprNHE9FXG6AjqGpicGUuD1LCGK7","news_summary":"Transcription Startup Unveils New Generative AI Tool For Higher Ed","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"QElzaWF1ZjqNY50sLLufBCl8B95e5wAGnYLkRMkqKc7ciKb5EbnGf5","date":"Jul 26, 2023","link":"https://www.calcalistech.com/ctechnews/article/b1butaacn","source":"www.calcalistech.com","visible":1,"analysis":{"tags":"Layoffs, Management Changes","company":"Verbit","layoffs":"60","summary":"AI-powered transcription and captioning platform Verbit is laying off 60 employees, including 20 in Israel, as part of an organizational change. This comes after the company doubled its workforce to 1,048 people by turning many of its regular transcribers into employees. The company underwent a similar change last July, reducing its workforce by 10%. Verbit, which closed a $250 million Series E at a $2 billion valuation in November 2021, has acquired six companies in recent years, leading to duplication of roles. The layoffs are part of the companys streamlining process to achieve profitability.","partners":null,"customers":null,"investors":null,"confidence":9,"key_topics":["Layoffs","AI Transcription","Workforce Reduction","Profitability","Company Growth"],"date_of_event":"Not specified","valuation_amount":"$2 billion","impact_on_company":"Growth-Negative","investment_amount":"$250 million","structured_issues":["Layoffs","Management Changes"],"acquisition_amount":null,"structuredIssuesShow":"#Layoffs  #Management Changes","entityGrowthIconPath":"url(/assets/circle-red.svg);"},"sentiment":"Growth-Negative","analysisId":"N00FBHHgjQI20Hux5LemQIOLaOig4B0P4MVK9FQGAHzuTCcnRspYoq","news_summary":"Unicorn Verbit cutting 60 jobs in second round of layoffs | CTech","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"vQAkqfT1TRaoNeYgWcnV27DPjKV9TzTJcXZMEkZVZloWonUIz2EzxK","date":"Jul 28, 2022","link":"https://www.prweb.com/releases/2022/7/prweb18814987.htm","source":"www.prweb.com","visible":1,"analysis":{"tags":"acquisition","company":"Verbit","layoffs":null,"summary":"Verbit has announced its acquisition of Take 1, a leader in transcription, access, and localization services for the media and entertainment sector. This acquisition strengthens Verbits presence in Europe and enhances its performance and delivery of UK English language requests. Verbits current customers will benefit from Take 1s industry expertise in unscripted production workflows and compliance. The acquisition is part of Verbits strategy to meet the unique needs of its customers in various industries. Verbit plans to continue expanding through new acquisitions and strategic investments.","partners":null,"customers":["ITV America","NPR","Warner Bros. Discovery"],"investors":null,"confidence":9,"key_topics":["Verbit","Take 1","acquisition","transcription services","media and entertainment sector"],"date_of_event":"July 28, 2022","valuation_amount":null,"impact_on_company":"growth-positive","investment_amount":null,"structured_issues":["Acquisition","Partners"],"acquisition_amount":null,"structuredIssuesShow":"#Acquisition  #Partners","entityGrowthIconPath":"url(/assets/circle-green.svg);"},"sentiment":"growth-positive","analysisId":"kNezkFQjXBEUr2BsMKf8eoXP0Yw5fDWjcw3ZyYnhfCnGQOpu6STN2v","news_summary":"Verbit Acquires Media Services Provider, Take 1","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"b4a868d4-f3fb-4172-b778-1f556ef13c5a","date":"Jul 5, 2022","link":"https://www.calcalistech.com/ctechnews/article/bj4k0azi5","source":"www.calcalistech.com","visible":1,"analysis":{"tags":"organizational change","company":"Verbit","layoffs":80,"summary":"Verbit, an Israeli unicorn that developed an AI-powered real-time transcription and captioning platform, is undergoing an organizational change that includes reducing its workforce by 10% to accelerate its path to profitability. The company will lay off around 80 employees, primarily in the U.S., with 30 employees from Israel also leaving. Verbit recently closed a $250 million Series E funding round at a $2 billion valuation. The layoffs are part of a restructuring effort to create business divisions and eliminate redundant positions resulting from the companys acquisitions. Verbit aims to continue its growth through additional acquisitions. Alon Klomek, former Chief Business Officer at Cellebrite, has been brought in as a VP to assist with the organizational change. Verbit will employ a total of 520 employees after the cutback.","partners":null,"customers":null,"investors":null,"confidence":9,"key_topics":["Layoffs","Organizational change","Acquisitions","Growth","Profitability"],"date_of_event":"November of last year","valuation_amount":"$2 billion","impact_on_company":"growth-negative","investment_amount":null,"structured_issues":["Layoffs","Expand"],"acquisition_amount":null,"structuredIssuesShow":"#Layoffs  #Expand","entityGrowthIconPath":"url(/assets/circle-red.svg);"},"sentiment":"growth-negative","analysisId":"cFTuLwr0EQzkUej8rkvCAEsxnrqzPUxEusfECEzPu9XQ8CxNoyAsp7","news_summary":"Verbit to layoff 10% of its workforce, eight months after $250 million funding round  CTech","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"c3f0600f-e495-4b6e-8397-3483a80eb0fa","date":"May 12, 2022","link":"https://www.prnewswire.com/news-releases/verbit-acquires-us-captioning-company-an-industry-leading-closed-captioning-provider-for-national-tv-networks-301545412.html","source":"www.prnewswire.com","visible":1,"analysis":{"tags":"acquisition","company":"Verbit","layoffs":null,"summary":"Verbit has announced its acquisition of U.S. Captioning, a renowned provider of closed captioning services for national TV stations, networks, producers, and programmers. This acquisition strengthens Verbits position as a global leader in AI-powered solutions for the media and entertainment sector. The addition of U.S. Captioning and its customers expands Verbits capabilities in captioning and transcription for the industry. Verbit has been actively acquiring companies to enhance its offerings across various verticals. The company has a valuation of $2 billion and aims to accelerate its growth by expanding into new verticals, geographies, and functionalities.","partners":null,"customers":"Sinclair Broadcast Group","investors":null,"confidence":9,"key_topics":["Verbit","U.S. Captioning","acquisition","media and entertainment sector","AI-powered solutions"],"date_of_event":null,"valuation_amount":"$2B","impact_on_company":"growth-positive","investment_amount":null,"structured_issues":["Acquisition"],"acquisition_amount":null,"structuredIssuesShow":"#Acquisition","entityGrowthIconPath":"url(/assets/circle-green.svg);"},"sentiment":"growth-positive","analysisId":"0kIXHJ0rU6NBhRQAylZNF1KeeX2nNIQHiMtzFJo16XdBwBBOZCdhk6","news_summary":"Verbit Acquires U.S. Captioning Company, an Industry-Leading Closed Captioning Provider for National TV Networks","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"8a4fbd47-e6be-4647-b607-97e9bf3db378","date":"Dec 26, 2021","link":"https://en.globes.co.il/en/article-verbit-buys-automatic-sync-technologies-1001396036","source":"en.globes.co.il","visible":1,"analysis":{"tags":"acquisition","company":"Verbit","layoffs":null,"summary":"Verbit, an Israeli AI transcription and captioning company, has acquired US education and government transcription company Automatic Sync Technologies (AST) for an undisclosed amount, rumored to be in the tens of millions of dollars. Verbit aims to be the worlds leading player in the transcription market, which is estimated to be worth $30 billion. The acquisition of AST will help Verbit expand its customer base and enhance its technology and services. Verbit has recently raised $250 million at a company valuation of $2 billion and has been actively pursuing mergers and acquisitions to drive its growth. The company is creating job openings to support its aggressive growth and is looking for employees in various roles.","partners":null,"customers":null,"investors":null,"confidence":9,"key_topics":["Verbit","AST","acquisition","transcription","growth"],"date_of_event":"December 26, 2021","valuation_amount":"$2 billion","impact_on_company":"growth-positive","investment_amount":null,"structured_issues":["Customers","Partners","Expand"],"acquisition_amount":"tens of millions of dollars","structuredIssuesShow":"#Customers  #Partners  #Expand","entityGrowthIconPath":"url(/assets/circle-green.svg);"},"sentiment":"growth-positive","analysisId":"8eJRZMeXIZsKtpJhLRace29VX95GJFt8Ep6EK5iXbP61hf9Iyt1xR8","news_summary":"Verbit buys Automatic Sync Technologies","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"a8b9c55b-2e4d-4afa-a0ca-8b4c8237e162","date":"Nov 23, 2021","link":"https://www.calcalistech.com/ctech/articles/0,7340,L-3923218,00.html","source":"www.calcalistech.com","visible":1,"analysis":{"tags":"funding","company":"Verbit","layoffs":null,"summary":"Israeli startup Verbit has closed its Series E funding round at $250 million, doubling its valuation to $2 billion. 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It serves over 2,000 customers across various sectors and has seen a sixfold surge in revenue in 2021.","partners":null,"customers":null,"investors":["Third Point Ventures","Sapphire Ventures","More Capital","Disruptive AI","Vertex Growth","40North","Samsung Next","TCP"],"confidence":8,"key_topics":["AI-powered transcription","Series E funding","Valuation increase","Expansion plans","Mergers and acquisitions"],"date_of_event":"23.11.21","valuation_amount":"$2 billion","impact_on_company":"growth-positive","investment_amount":"$250 million","structured_issues":["Investment","Expand"],"acquisition_amount":null,"structuredIssuesShow":"#Investment  #Expand","entityGrowthIconPath":"url(/assets/circle-green.svg);"},"sentiment":"growth-positive","analysisId":"wgM0ftxoY5ASvRtWp50o6BWkjPltowZ5lXmbVfQPq7V2Q60gxIzEaf","news_summary":"Verbit hits $2 billion valuation with $250 million Series E","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"3dc3f661-e5da-4d96-ab99-1243a20a0306","date":"Aug 19, 2021","link":"https://finance.walla.co.il/item/3455214?_atscid=7_134353_204082920_1942230_0_Txtetaxjxdshwhus8sp","source":"finance.walla.co.il","visible":1,"analysis":{"tags":"management changes","company":"VERBIT","layoffs":null,"summary":"Verbit, a company developing an automated transcription platform, has appointed Rafi Margaliot, former senior vice president at Micro Focus (formerly HP) and CEO of the companys Israeli development center, as the companys Director of Product and Technology. Margaliot brings over two decades of experience in development and management roles in advanced technology companies. Verbit aims to define the product vision, M&A, and identify and develop partnerships for products and technologies under Margaliots leadership. The company emphasizes the preservation of its organizational culture and is excited about the addition of talented individuals to continue its growth.","partners":null,"customers":null,"investors":null,"confidence":8,"key_topics":["Management","Product","Partnerships","Experience","Technology"],"date_of_event":null,"valuation_amount":null,"impact_on_company":"growth-positive","investment_amount":null,"structured_issues":["Management Changes"],"acquisition_amount":null,"structuredIssuesShow":"#Management Changes","entityGrowthIconPath":"url(/assets/circle-green.svg);"},"sentiment":"growth-positive","analysisId":"jJFrMM19EUcgJ64qijBTkh7PezqbkwMi3C6kPhUwzKRypX6Wj02CQd","news_summary":"שורה של מינויי בכירים ב-Verbit - וואלה! כסף","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"faf3e111-0f02-466b-ae58-0dc86f0fa8bc","date":"Jun 8, 2021","link":"https://venturebeat.com/2021/06/08/ai-powered-transcription-startup-verbit-raises-157m/","source":"venturebeat.com","visible":1,"analysis":{"tags":"Investment, Expansion, Public Trading","company":"Verbit","layoffs":"None","summary":"Verbit, a New York-based startup specializing in voice transcription and captioning services, has announced the closing of a $157 million series D funding round. The funds will be used to support product R&D, hiring, and geographic expansion as the company prepares for an IPO. The companys post-money valuation now stands at over $1 billion. Verbits technology, which claims to deliver over 99.9% accuracy in transcriptions, has attracted a strong client base including over 400 educational institutions and commercial customers. The company recently acquired captioning provider VITAC and plans to add 200 new business and product roles.","partners":"VITAC, Speech to Text Institute","customers":["Harvard","NCAA","London Business School","Stanford University","CNBC","CNN","Fox"],"investors":["Sapphire Ventures","Third Point","More Capital","Lion Investment Partners","ICON fund","Stripes","Vertex Ventures","HV Capital","Oryzn Capital","CalTech"],"confidence":9,"key_topics":["Series D Funding","AI Technology","Transcription Services","Market Expansion","IPO Preparation"],"date_of_event":"Not mentioned","valuation_amount":"$1 billion","impact_on_company":"Growth-Positive","investment_amount":"$157 million","structured_issues":["Investment","Public Trading","Expand"],"acquisition_amount":"Not mentioned","structuredIssuesShow":"#Investment  #Public Trading  #Expand","entityGrowthIconPath":"url(/assets/circle-green.svg);"},"sentiment":"Growth-Positive","analysisId":"0R9yU5jIsIi4DTu3tnYTORaaxEpJ8rb0p8152OLjXGe5qAyX2owpmv","news_summary":"AI-powered transcription startup Verbit raises $157M","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"46531e62-52e0-4917-8438-ab14dee93737","date":"May 12, 2021","link":"https://en.globes.co.il/en/article-verbit-acquires-us-tv-captioning-co-vitac-1001370809","source":"en.globes.co.il","visible":1,"analysis":{"tags":"acquisition","company":"Verbit","layoffs":null,"summary":"Verbit, an Israeli AI-powered transcription platform, has acquired VITAC, the largest North American provider of TV captioning products. The acquisition positions Verbit as the leading player in the professional transcription and captioning market across various sectors. Verbit plans to expand its offerings for the media vertical and provide advanced transcription capabilities to its existing education, legal, and corporate customers. The acquisition amount is estimated to be in the tens of millions of dollars. Verbit was founded in 2017 and has raised $122 million in funding. VITAC, established 35 years ago, has a wide range of clients in the broadcast, corporate, educational, and government sectors. VITAC CEO Chris Cowell expressed excitement about joining Verbit and contributing to the transcription industry globally.","partners":null,"customers":null,"investors":"Gorews","confidence":9,"key_topics":["AI-powered transcription","acquisition","VITAC","Verbit","captioning"],"date_of_event":"May 12, 2021","valuation_amount":null,"impact_on_company":"growth-positive","investment_amount":null,"structured_issues":["Acquisition"],"acquisition_amount":"tens of millions of dollars","structuredIssuesShow":"#Acquisition","entityGrowthIconPath":"url(/assets/circle-green.svg);"},"sentiment":"growth-positive","analysisId":"Ozzs4LDMRpKoT2hqJdfEObnJvRGy9stIlJeQTDrmKPtTSSfV2TFguJ","news_summary":"Verbit acquires US TV captioning co VITAC","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"dda20d79-5e70-41df-a280-ed2de1a3bfb0","date":"Nov 19, 2020","link":"https://venturebeat.com/2020/11/19/verbit-raises-60-million-to-improve-enterprise-focused-transcription-software/","source":"venturebeat.com","visible":1,"analysis":{"tags":"speech recognition","company":"Verbit","layoffs":null,"summary":"Verbit, a voice and speech recognition tech company, has closed a $60 million series C round to support its product R&D efforts and pursue new verticals. The funding will also lay the groundwork for potential mergers and acquisitions. Verbits adaptive speech recognition technology sets it apart from competitors, with three algorithms powering its captioning services. The companys transcriptions are highly accurate, with over 99.9% accuracy. Verbit plans to expand its international reach, increase language support, and explore verticals in the insurance and financial sectors, as well as media and medical use cases. The company has a client base of over 400 educational institutions and commercial customers. Sapphire Ventures led the series C round, bringing Verbits total capital raised to over $100 million.","partners":null,"customers":"Harvard, NCAA, London Business School, Fashion Institute of Technology, Stanford, Coursera, Udacity","investors":"Sapphire Ventures, Vertex Ventures, Stripes, HV Ventures, ClalTech, Vertex Growth","confidence":9,"key_topics":["series C round","product R&D","merger and acquisition opportunities","voice transcription","adaptive speech recognition"],"date_of_event":"November 19, 2020","valuation_amount":null,"impact_on_company":"growth-positive","investment_amount":"$60 million","structured_issues":["Investment","Expand"],"acquisition_amount":null,"structuredIssuesShow":"#Investment  #Expand","entityGrowthIconPath":"url(/assets/circle-green.svg);"},"sentiment":"growth-positive","analysisId":"HBZNdQbYHy6rQ0JI94VvEPsPUphQjYg3sXMaUrzPop3BzGj67ZdRji","news_summary":"Verbit raises $60 million to improve enterprise-focused transcription software","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"6931ab99-f57d-45e1-b56b-aae277c1fbd7","date":"Sep 10, 2020","link":"https://www.calcalistech.com/ctech/articles/0,7340,L-3849071,00.html","source":"www.calcalistech.com","visible":1,"analysis":{"tags":"transcription service","company":"Verbit","layoffs":null,"summary":"Verbit, a transcription service company, has experienced significant growth in 2020, with 500 paid customers and fivefold revenue growth. The company provides AI-based transcription services with an 85% accuracy rate, supplemented by human contractors for the remaining 15%. Verbit has found success in the education industry during the COVID-19 pandemic, serving prestigious institutions like Harvard and Stanford University. The company aims to expand into other industries, such as healthcare, and achieve a 99% accuracy rate. Verbit has raised a total of $65 million and currently has over 120 employees. While there are concerns about the job security of its freelancers, Verbit believes that growing demand will continue to provide projects for them.","partners":null,"customers":"Harvard, Stanford University","investors":null,"confidence":8,"key_topics":["transcription service","AI-based transcription","growth","education","accuracy rate"],"date_of_event":"2020","valuation_amount":null,"impact_on_company":"growth-positive","investment_amount":"$65 million","structured_issues":["Customers","Expand"],"acquisition_amount":null,"structuredIssuesShow":"#Customers  #Expand","entityGrowthIconPath":"url(/assets/circle-green.svg);"},"sentiment":"growth-positive","analysisId":"WpYa3hVpbikMYIHONTWTsHpTs8YKK2qIcWJN4KN4blAjCZ1W6rZXPv","news_summary":"To achieve its mission of transforming the note-taking world, Verbit wants to become the \"Uber of transcription\"","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"b6131474-a1a7-49a8-8863-d924049e2dd6","date":"Mar 15, 2020","link":"https://www.calcalistech.com/ctech/articles/0,7340,L-3801277,00.html","source":"www.calcalistech.com","visible":1,"analysis":{"tags":"technology, transcription","company":"Verbit","layoffs":null,"summary":"Harvard University will use Verbits technology to transcribe classes for students unable to attend due to the coronavirus pandemic. Verbit, a Tel Aviv-based transcription startup, has developed an AI system for automatically transcribing recorded speech. A human operator then checks the output for errors. Verbit recently raised $31 million in a series B funding round, bringing its total funding to $65 million.","partners":null,"customers":null,"investors":null,"confidence":9,"key_topics":["Coronavirus","Harvard University","Verbit","transcription","online instruction"],"date_of_event":"2020-03-15","valuation_amount":null,"impact_on_company":"growth-positive","investment_amount":null,"structured_issues":["Customers"],"acquisition_amount":null,"structuredIssuesShow":"#Customers","entityGrowthIconPath":"url(/assets/circle-green.svg);"},"sentiment":"growth-positive","analysisId":"sV9PdabN7IIH2GyPZmmUmlj4mHPuW3sCyD53jIpQ2M3kZ0d93BIg0A","news_summary":"Harvard to Use Tel Aviv-Based Transcription Startup Verbit For Distant Learning","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"4e85561c-2be2-4fbd-b159-02e429cef1ec","date":"Mar 3, 2020","link":"https://www.prweb.com/releases/verbit_announces_strategic_partnership_with_stti_verbit_ceo_to_join_board_of_directors/prweb16952033.htm","source":"www.prweb.com","visible":1,"analysis":{"tags":["partnerships","legal technology","court reporting","AI-powered transcription"],"company":"Verbit","layoffs":null,"summary":"Verbit, the leading AI-powered transcription platform, has announced a strategic partnership with the Speech to Text Institute (STTI) to drive innovation in the court reporting industry and legal technology. Verbits CEO, Tom Livne, will join STTIs board of directors. The partnership aims to advance the digital transformation of the legal industry and build meaningful partnerships with court reporters. Verbit recognizes the market changes and supports the adoption of digital tools in court reporting, which is expected to save companies nearly $250,000 USD over the next decade. Verbits technology combines AI and human intelligence to provide accurate and efficient transcripts. The partnership with STTI will educate the community about the capabilities of Automatic Speech Recognition in legal. Verbit is committed to revolutionizing the court reporting profession and believes that technology will enhance efficiency and fairness in legal processes.","partners":["Speech to Text Institute (STTI)"],"customers":null,"investors":null,"confidence":9,"key_topics":["strategic partnership","innovation","digital era","legal technology","court reporting"],"date_of_event":"March 03, 2020","valuation_amount":null,"impact_on_company":"growth-positive","investment_amount":null,"structured_issues":["Partners"],"acquisition_amount":null,"structuredIssuesShow":"#Partners","entityGrowthIconPath":"url(/assets/circle-green.svg);"},"sentiment":"growth-positive","analysisId":"tHQQLnOplom0eu3Ai02CNiLR6nxP3xhni9ZAxLPT2uk3PM9fyYJ84W","news_summary":"Verbit Announces Strategic Partnership with STTI, Verbit CEO to Join Board of Directors","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"5aa2fbea-dde0-4986-bdc8-f594ec55f33e","date":"Jan 15, 2020","link":"https://www.calcalistech.com/ctech/articles/0,7340,L-3777819,00.html","source":"www.calcalistech.com","visible":1,"analysis":{"tags":"funding","company":"Verbit Software Ltd.","layoffs":null,"summary":"Tel Aviv-based transcription startup Verbit Software Ltd. has raised $31 million in a series B funding round led by Stripes LLC. The funding will be used to add additional languages to Verbits AI system for automatically transcribing recorded speech. Verbits total funding to date is now $65 million. Existing investors also participated in the funding round.","partners":null,"customers":null,"investors":"Stripes LLC, Viola Ventures, Vertex Ventures, HV Ventures, Horizon Capital, Vintage, Claltech","confidence":9,"key_topics":["AI system","transcribing","funding","additional languages","investors"],"date_of_event":"15.01.20","valuation_amount":null,"impact_on_company":"growth-positive","investment_amount":"$31 million","structured_issues":["Investment"],"acquisition_amount":null,"structuredIssuesShow":"#Investment","entityGrowthIconPath":"url(/assets/circle-green.svg);"},"sentiment":"growth-positive","analysisId":"4wLVLJLo5v0kqvsVZ7juVKh6MGC9moKimUdFJZMJrOxZTStDAUU8w5","news_summary":"Tel Aviv-Based Transcription Startup Verbit Raises $31 Million","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"ce40f807-b696-4a62-b212-56e8c94864dd","date":"Mar 14, 2019","link":"https://en.globes.co.il/en/article-verbit-launches-ai-real-time-transcription-solution-1001278096","source":"en.globes.co.il","visible":1,"analysis":{"tags":"speech-to-text","company":"Verbit","layoffs":null,"summary":"Verbit, an Israeli transcription and captioning solution developer, has released its real-time transcription solution called Communication Access Real-Time Translation (CART) services. CART uses AI-powered speech recognition technology to generate live closed captions. The solution is aimed at bridging the accessibility gap for individuals with hearing impairments and complying with FCC regulations and ADA requirements. Verbits platform offers an on-demand marketplace of transcribers, easy scheduling, unlimited capacity, and immediate downloadable transcripts. The companys CEO, Tom Livne, stated that incorporating machine learning and natural language processing will allow them to provide on-demand CART services that match human accuracy capabilities in real-time. The article was published on March 14, 2019.","partners":null,"customers":"Brigham Young University-Idaho","investors":null,"confidence":9,"key_topics":["real-time transcription","CART services","AI voice technology","accessibility","transcription services"],"date_of_event":"2019-03-14","valuation_amount":null,"impact_on_company":"growth-positive","investment_amount":null,"structured_issues":["Customers"],"acquisition_amount":null,"structuredIssuesShow":"#Customers","entityGrowthIconPath":"url(/assets/circle-green.svg);"},"sentiment":"growth-positive","analysisId":"UF4Ym8wBmZc2DfycQNRqSXtCRnb9D5azSbsdJpC7ouTukKHU5LmNaO","news_summary":"Verbit launches AI real-time transcription solution","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"4d92ad26-c350-4c19-ab89-da905e4c840b","date":"Jan 29, 2019","link":"https://venturebeat.com/2019/01/29/verbit-raises-23-million-to-automate-transcription-and-captioning/","source":"venturebeat.com","visible":1,"analysis":{"tags":["speech and voice recognition","transcription","adaptive speech recognition","Series A funding","global growth","AI solution","deep learning","cloud dashboard","client base","revenue","team expansion"],"company":"Verbit.ai","layoffs":null,"summary":"Verbit.ai, a startup specializing in adaptive speech recognition technology, has raised $23 million in a Series A funding round led by Voila Partners. The funding will be used to support the companys global growth, particularly in the United States. Verbits technology, which relies on deep learning and neural networks, can generate detailed transcriptions with over 99 percent accuracy. The companys client base includes educational institutions and commercial customers, and its platform can reduce operating costs by up to 50 percent and deliver results 10 times faster than competitors. Verbit has raised a total of $34 million in funding to date.","partners":null,"customers":["London Business School","Fashion Institute of Technology","Utah State University","University of Utah","University of Southern Utah","University of Vermont","Auburn University","Western Governor University","University of California Santa Barbara","Oakland University","Stanford","Coursera","Panopto","Kaltura"],"investors":["Voila Partners","Vertex Ventures","Oryzn Capital","HV Ventures","Vintage Venture Partners","ClalTech"],"confidence":8,"key_topics":["speech and voice recognition","transcription","adaptive speech recognition","Series A funding","global growth"],"date_of_event":"Not specified","valuation_amount":null,"impact_on_company":"growth-positive","investment_amount":"$23 million","structured_issues":["Investment","Expand"],"acquisition_amount":null,"structuredIssuesShow":"#Investment  #Expand","entityGrowthIconPath":"url(/assets/circle-green.svg);"},"sentiment":"growth-positive","analysisId":"GFL9pc4YdPddnuBOOL3uiCCo2ugUDriNdqm91Jx3OgqNwgkBLrdcns","news_summary":"Verbit.ai raises $23 million to automate transcription and captioning","analysisStructuredIssuesDisplay":"block","analysisImpactOnCompanyDisplay":"block"},{"id":"fb7f47ca-14c8-4085-9b1a-255217590b28","date":"Mar 29, 2018","link":"http://www.globes.co.il/en/article-israeli-transcription-co-verbit-raises-11m-1001229906","source":"www.globes.co.il","visible":1,"analysis":{"tags":"transcription services","company":"VerbIT","layoffs":null,"summary":"Israeli startup VerbIT has raised $11 million in a seed round led by Oryzn Capital, Vertex Ventures, and HV Ventures. VerbIT provides transcription services that combine automated transcription algorithms with human transcription. The company plans to use the funding for expansion and acquiring professional expertise in other areas of transcription. VerbIT currently works with thousands of freelancers in over 20 countries and serves customers mainly in the education sector. The company aims to build a large company that will eventually have an IPO.","partners":null,"customers":["London Business School","Stanford University","Coursera"],"investors":["Oryzn Capital","Vertex Ventures","HV Ventures"],"confidence":8,"key_topics":["transcription services","automated transcription","speech recognition engine","freelance transcribers","expansion"],"date_of_event":"March 29, 2018","valuation_amount":null,"impact_on_company":"growth-positive","investment_amount":"$11 million","structured_issues":["Investment","Expand"],"acquisition_amount":null,"structuredIssuesShow":"#Investment  #Expand","entityGrowthIconPath":"url(/assets/circle-green.svg);"},"sentiment":"growth-positive","analysisId":"Nu3ZiBHwhA2ybrVXSNvlyLKB4HMqrKiL0CG3zAEQn1dxzwFwjRhXtO","news_summary":"Israeli transcription co VerbIT raises 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