Transcription company Verbit recently raised $157 million for its Series D, bringing its total funding to $250 million. Verbit leverages AI to transcribe text, and then it uses a team of professional human transcribers to fact check results for the greatest accuracy. The transcription services are popular with those who work in higher education and legal. This hefty funding round mirrors the large sums that other conversational startups — like Cognigy, Hyro, and ASAPP, to name a few — have raised recently. With this flurry of fundraising activity, investors see the vast potential that conversational AI companies have, especially in the transcription and call center spaces.
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