Making Impact
Our vision is to provide a technology that fuels a world where all media shared in classrooms, workplaces and online platforms are inclusive. We’re dedicated to providing universities and businesses with the tools they need to make all video and media accessible to all individuals.
“Businesses and universities are hungrier than ever for new technologies to reinvent their processes, meet consumer needs and position themselves as innovators. While the need to work and learn remotely was exacerbated by the COVID-19 crisis, remote processes are here to stay. To account for the greater acceptance of technology, Verbit will continue to release new products and offerings that meet the evolving needs of today’s professionals and students.”
Our Investors
Verbit raised $157M in investments from investors who work hand-in-hand with us to drive our business and goals forward.
Verbit is leveraging the power of artificial intelligence to fundamentally improve a specific application and help critical work get done better, faster and cheaper. We are thrilled to partner with Tom and the rest of the Verbit team and lend a hand on their journey to solve transcription globally across all professional industries.
At Viola we strongly believe the market is going vertical. Customers no longer settle for generic technology platforms that require significant customization to fit their needs. Vertical by vertical, Verbit is turning transcription from a cumbersome, manual process into a scalable, seamless and affordable end-to-end service. Its technology, operations and growth have been exponential. The limit is nowhere to be seen.
Verbit’s strength lies in its ability to execute on a set of very different and complicated tasks which are all needed for a company to deliver transcription and complementary services in a scalable way. This is what allows it to grow so fast while keeping its customers and employees happy.
HV led Verbit’s 2018 seed round because the product fit perfectly into our thesis of disrupting fragmented non-digital and service-heavy industries with AI-automation. Since then, the team has shown best-in-class execution skills and there is an unstoppable market pull for Verbit’s offering
We knew of Verbit’s great potential even at its earliest stages. The incredible talent and the ability to disrupt a huge, yet fragmented market with technology that provides superior solutions at scale made Verbit a clear opportunity for investment.
What grabbed our attention was a combination of an impressive track record – for what was then a young company – and an audacious aspiration to disrupt and take over a huge, dormant market. That, coupled with CEO Tom Livne’s energy and drive made us super excited.
Verbit combines the speed and low cost of Automatic Speech Recognition technology with the accuracy of human transcription to solve this massive problem for companies and organizations in these markets. We’re excited to partner with CEO Tom Livne and his team as they expand to additional segments and deliver a leading platform for transcription based applications.
We chose Verbit because of the superior accuracy, turnaround time and cost they offered. It’s been a definite game changer for us.
Verbit’s Story
In his early career as a lawyer, Tom Livne saw how much time and money was being spent on transcription. An entrepreneur at heart, he became inspired to create a transcription service that relied on technology over manual labor. He identified a blue ocean of opportunity when recognizing how many industries, including education, media and enterprise, could also greatly benefit from transcription generated by Artificial Intelligence. Livne and his small team built an AI-based automatic speech recognition machine that could not just transcribe, but caption audio and video content to meet these needs.
The technology has now matured to deliver live solutions to accommodate remote work and student accessibility and disability needs in real-time. A team of 22K on-demand professional transcribers also guarantee customers 99%+ accuracy by fact checking the technology’s work. The result: Verbit is empowering individuals on their education journeys, streamlining workflows, simplifying lives and, despite being complex, providing a technology that’s intuitive and easy to use.
Since its inception in 2017, Verbit has now secured 12 patents and evolved into a 90+ person company with 4 offices internationally.
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Our Added Value
Verbit is different from the pack due to our dual process. First, we employ top-notch automatic speech recognition technology which is powered by Artificial Intelligence and continues to improve with use. Then, a team of skilled professional transcribers fact check the technology to guarantee clients with the highest accuracy available. We also don’t stop there. Our team is dedicated to customer support to ensure our captioning and transcription meets the unique needs of each of our clients. A dedicated, entrepreneurial team is at the root of what we provide, which means constant innovation and updates to our products and services based on your requests and evolving needs.
Our Awards
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2019
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2020
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2020
