Verbit raises $60 million to expand automated transcription software

Tel Aviv-based transcription startup Verbit Software Ltd. has raised $60 million in a series C funding round led by Sapphire Ventures. Existing backers Viola Ventures, Vertex Ventures, HV Ventures, and Claltech, the tech investment arm of privately-held holding company Access Industries Inc. also participated in the current round.

Verbit, which develops automated transcription software, was founded four years ago and completed its $31 million series B round in January, led by the U.S.-based Stripes Group. The new capital brings the company’s total raised to $100 million.