Transcription and captioning platform Verbit Inc. has notched a valuation of more than $1 billion in is latest financing as it gears up for a public listing as soon as next year.
The New York-based startup hit the valuation milestone as it raised $157 million in a Series D round. Venture-capital firm Sapphire Ventures led the financing with Third Point, More Capital, technology investor Omer Cygler, Azura and Icon Advisers participating as new investors.