Speech Analyst Speechmatics Raises $62m

British-based automated speech recognition platform Speechmatics has raised $62m in a Series B round of funding which it will use to support expansion across the US and Asia-Pacific, and to improve infrastructure - particularly the capacity of it data centre.

Speechmatics, which is headquartered in Cambridge, UK and has other offices in the UK, the US, India and the Czech Republic, provides autonomous speech recognition technology, to understand and transcribe human-level speech into text, regardless of demographic, age, gender, accent, dialect or location. The firm's speech-to-text engine, which understands 34 languages, is now trained through exposure to hundreds of thousands of individual voices, using millions of hours of unlabelled, more representative voice data that doesn't require human intervention.

New funding was led by Susquehanna Growth Equity with participation from existing investors AlbionVC and IQ Capital. Speechmatics CEO Katy Wigdahl (pictured) comments: 'We chose to work with Susquehanna Growth Equity because they have a fantastic global footprint and a history of supporting significant growth in software businesses. The capital will enable us to double down on our vision to close the gap between humanity and machines, which is incredibly exciting. We cannot wait to accelerate our growth and unlock the understanding of more and more voices'.

Web site: www.speechmatics.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.