Company Overview
Snapshot
Founded in March 2017 by Jeroen Plink, Verbit has grown to over 1,000 employees. The company has raised $532 million across 6 funding rounds from 19 investors, reaching a $2 billion valuation in November 2021. In June 2024, Verbit appointed Yair Amsterdam as its permanent CEO, signaling a focus on AI and continued growth.
Business overview
Verbit provides vertical-built voice AI solutions, offering engaging and equitable experiences through advanced captioning and transcription. The company's core technology combines in-house AI with a large professional captioner workforce to deliver premier results. Verbit serves over 2,000 businesses and institutions, enabling them to meet accessibility guidelines and make verbal information searchable and actionable across various markets and industries, including legal, media, and education.
Strategic signal
Verbit recently launched a revolutionary real-time transcription service for legal proceedings in June 2024, alongside the appointment of Yair Amsterdam as permanent CEO. This dual development signals a strategic pivot towards strengthening its position in the legal technology sector and leveraging AI for immediate, high-accuracy applications, indicating a renewed focus on market-specific innovation and leadership stability for investors.
Log in to access full profile ›Company Intelligence Q&A
- What was Verbit's valuation in its latest funding round?
- In November 2021, Verbit achieved a $2 billion valuation with its Series E funding round.
- Who was appointed as Verbit's permanent CEO?
- In June 2024, Verbit appointed Yair Amsterdam as its permanent CEO, with a focus on AI and growth.
- What new product did Verbit launch in the legal sector?
- In June 2024, Verbit launched a revolutionary real-time transcription service specifically designed for legal proceedings.
- Did Verbit undergo any workforce changes in 2024?
- In March 2024, Verbit initiated layoffs affecting dozens of employees.
- What was Verbit's most recent acquisition?
- In July 2022, Verbit acquired Media Services Provider, Take 1, as part of its strategy to expand its global footprint and service offerings.