Speechmatics secures £6.4m Series A funding from AlbionVC and IQ Capital for international expansion
The investment round was led by AlbionVC with backing from IQ Capital.
Speechmatics builds automated speech recognition technology that processes audio across multiple languages and formats. The company operates globally with a focus on deep learning models.
Speechmatics has raised £6.4m in Series A funding to support its international expansion and product development. The round was led by AlbionVC, with participation from IQ Capital and several angel investors. The company provides automatic speech recognition technology that can be deployed in the cloud or on premises across multiple languages. The capital will enable the business to build on recent office openings in Brno and Chennai while pursuing further global growth.
From the founder
"We’ve invested heavily into our product and machine learning capabilities to provide our customers with what we believe is the best speech recognition technology on the market. We recognise that businesses are increasingly aware of the importance of unlocking their voice data and utilising it for core business functions such as compliance, analytics, training and improving customer experience. This latest investment opens up not only global expansion but the opportunity for new product development and traction in new markets."
John Milliken
Chief Executive Officer at Speechmatics
Investor perspective
"Speech software is a large and rapidly growing market and we believe Speechmatics’ small footprint language models, capable of flexible deployment in the cloud, on-premises or on-device will become of strategic importance in the evolving landscape. We believe Speechmatics, led by John, is poised to become a significant global software company."
Robert Whitby-Smith
Partner, Albion
Use of funds
- 01Continue product development
- 02Expand into international markets
Investors
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About the company
Speechmatics
Speechmatics develops advanced automated speech recognition technology for enterprise applications.