What is Speechmatics?
Speechmatics leverages decades of research in neural networks to provide advanced ASR technology, enabling world-leading companies to integrate speech capabilities into their applications. Having already processed millions of hours of audio across diverse use cases, Speechmatics is committed to building the best speech technology for any application, anywhere, in any language. Their mission is to place speech at the core of communication, empowering businesses with robust and scalable speech-to-text solutions.
How much funding has Speechmatics raised?
Speechmatics has raised a total of $69.3M across 2 funding rounds:
Series A
$7.3M
Series B
$62M
Series A (2019): $7.3M with participation from IQ Capital and Albion Capital Group
Series B (2022): $62M led by Susquehanna Growth Equity, Albion Capital Group, and IQ Capital
Key Investors in Speechmatics
IQ Capital
IQ Capital is a venture capital firm specializing in deep-tech investments, including AI and machine learning. They focus on companies with the potential for global market dominance and have a track record of successful exits.
Albion Capital Group
Albion Capital Group is an investment firm that provides growth capital. Their involvement suggests a belief in Speechmatics' scalable business model and market potential.
Susquehanna Growth Equity
Susquehanna Growth Equity is a growth equity fund that invests in software, SaaS, and data-focused companies. Their participation indicates confidence in Speechmatics' technology and its application in enterprise solutions.
What's next for Speechmatics?
The substantial enterprise-level funding positions Speechmatics for accelerated growth and market penetration. This strategic investment is expected to fuel further research and development into their core ASR engine, enhancing accuracy and expanding language support. Furthermore, the capital will likely support the company's global expansion efforts and strengthen its sales and marketing initiatives to capture a larger share of the rapidly growing speech technology market. The company's focus on deep-tech and AI suggests a continued commitment to innovation, aiming to solidify its position as a dominant player in the speech-enabled future.
See full Speechmatics company page
