TranscribeMe Oversubscribes Angel Round with $900k Funding to Bring Speech Processing and Transcription Platform to Market
SAN FRANCISCO, Nov. 29, 2012 /PRNewswire via COMTEX/ --
TranscribeMe closed an oversubscribed Angel Investment Round, bringing total funding to date to $1.5 million. 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% increased efficiency for customers in the medical, market research, conference and education industries, and has established integrations with Evernote, Livescribe and select VoIP providers.
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."
Microtasking is the next wave in efficient workforce management. By building its crowd platform versus using an existing marketplace, TranscribeMe is able to deliver a secure and confidential service, as well as control, train, and up-skill its crowd of thousands of workers. As a Microsoft BizSpark One partner, TranscribeMe leverages a stable and secure Windows Azure foundation on which to build its key specialization - complex audio processing, by using proprietary automated speech recognition technology and intelligent crowd-sourced micro-tasking.
TranscribeMe makes audio and video content searchable and shareable by converting speech to text, fast. We deliver use a hybrid model combining software with a crowd-sourced transcribers. TranscribeMe offers a fast, accurate and highly available transcription service for medical professionals, corporations, conferences, writers, podcasters and academics to analyze, search, share and monetize their audio content by transcribing it to word-for-word perfect text.
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