AI-powered transcription startup Verbit raises $157M

Verbit announced the close of a $157 million series D round the company says will bolster its product R&D and hiring efforts. CEO Tom Livne, who noted that the raise brings the company’s post-money valuation to more than $1 billion, said the capital will also support Verbit’s geographic expansion as it prepares for an initial public offering.

Sapphire Ventures led Verbit’s series C round, with participation from Third Point, More Capital, Lion Investment Partners, and ICON fund, as well as existing investors such as Stripes, Vertex Ventures, HV Capital, Oryzn Capital, and CalTech. This brings the four-year-old company’s total capital raised to more than $250 million, following a $60 million series C in November 2020.


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