TranscribeMe Closes Oversubscribes Angel Round with $900K Funding
Dec 04, 2012 (Close-Up Media via COMTEX) --
TranscribeMe closed an oversubscribed Angel Investment Round, bringing total funding to date to $1.5 million.
TranscribeMe said the funds will be used to support the rapid growth of TranscribeMe's platform, which converts audio and video into searchable and shareable text. Investors come from leading syndicates including Tech Coast Angels, Sierra Angels, TEC Ventures, ICE Angels, Keiretsu and Maverick Angels. TranscribeMe delivers over 500 percent increased efficiency for customers in the medical, market research, conference and education industries, and has established integrations with Evernote, Livescribe and select VoIP providers.
According to a release, TranscribeMe's mission is to maximize the value of audio and video content through transcription. The team pioneered a hybrid platform that combines speech recognition algorithms with the power of crowd-sourced transcribers working from around the world. "TranscribeMe's efficiency comes from our ability to intelligently process, slice and micro-task the transcription of audio and video," notes VP of Sales and Marketing Bethanie Maples Krogstad.
"TranscribeMe is a new platform for accurately converting voice to text," says CEO Alexei Dunayev, "one which is scalable, confidential, and specialized. Our global on-demand workforce is able to deliver a tailored service to customers, and we achieve a new level of efficiency through our voice recognition and micro-tasking technology."
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