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Harvard to Use Tel Aviv-Based Transcription Startup Verbit For Distant Learning

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Harvard University will use technology developed by Verbit to transcribe classes for students that cannot attend due to the coronavirus pandemic.

Even prestigious universities cannot escape the coronavirus (Covid-19) pandemic and the mobility restrictions it brings. Many universities, including Ivy League institution Harvard University, have shifted all graduate and undergraduate classes to online instruction until further notice. To help students keep up, Harvard will use technology developed by Tel Aviv-based transcription startup Verbit Software Ltd. to transcribe classes, Verbit announced Sunday.

Founded in 2016, Verbit develops an artificial intelligence system capable of automatically transcribing recorded speech. A human operator fluent in the relevant field of the conversation, such as law, insurance, or mechanics, then checks the output for errors and inaccuracies. In January, the company announced it had raised a $31 million in a series B funding round, bringing the company’s total funding to date to $65 million.

Read the original article here.

 

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Top Israeli Startups 2020: Most Promising Logistics and E-Commerce Companies

Calcalist and CTech are highlighting the top Israeli startups that are working to keep the world economy on the rails amid the Covid-19 crisis.

In a world thrown into chaos by the coronavirus (Covid-19) pandemic, the startups featured in this list are doing their best to keep the world economy on the rails, offering innovation to match the magnitude of the crisis. The logistics and e-commerce companies we selected together with a committee of expert entrepreneurs, consultants, and investors, offer solutions to states, organizations, and individuals who found themsleves scrambling to cope with the realities of widespread closures, crippled services and the need to be apart. Be sure to check out Calcalist’s full list of Israel’s 50 most promising startups of 2020.

Verbit’s mention is below, but the full article with all companies named to the list can be found here.

Verbit

Product: transcription and captioning tools

Year founded: 2017

Founder: Tom Livne, Eric Shellef, Kobi Ben Tzvi

Number of employees: 102

Funding: $65 million

Investors: Stripes Group, Viola Ventures, Vertex Ventures, Oryzn Capital, HV Holtzbrinck Ventures

Israeli startup Verbit Software Ltd. offers transcription services that use artificial intelligence combined with human intelligence to provide a smart and fast solution for professional transcription. Since the coronavirus crisis started, Verbit has been swamped with demand for its services. Verbit, which supplies transcription systems to organizations and universities, now finds itself collaborating with giants like video conference call company Zoom Video Communications Inc. and Harvard University that suddenly require massive transcription services.

Verbit, which uses human translators and transcribers to ensure the quality of its AI tool’s product, employs 15,000 transcribers in over 30 countries. The company is currently overwhelmed by applicants offering their services to the company in the wake of mass layoffs around the world.

Tom Livne. Photo: Shlomi Josef

In January, Verbit completed a $31 million funding round, which gives it a solid foundation for the coming year.

Verbit’s technology is used by more than 150 clients from the fields of academia and law, including Stanford University, the London Business School, and online education company Coursera Inc.

 

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