Israeli AI transcription startup Verbit has raised a $60 million Series C round.
"We closed our Series B in January but then COVID-19 hit and there was a lot of uncertainty in the market," Verbit CEO and founder Tom Livne, told Business Insider in an interview.Israeli human/AI transcription startup Verbit has raised a $60 million Series C round led by Sapphire Ventures. "We closed our Series B in January but then COVID-19 hit and there was a lot of uncertainty in the market," Verbit CEO and founder Tom Livne, told Business Insider, adding that the firm saw an uptick in demand. Livne said revenue was up 5x in the third quarter compared to 2019, though he didn't delve into figures.
Verbit's round also saw participation from existing investors Vertex Ventures, Stripes, HV Ventures, and ClalTech, as well as new investor Vertex Growth.
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