Startups > Verbit

Verbit

Verbit helps enterprises transcribe and understand audio content with AI-powered accuracy.

Series E $550M total Founded 2017 New York, New York

Verbit is a verbal intelligence platform that combines proprietary AI-based automatic speech recognition (ASR) with a human transcriber network to deliver 99.9% accurate transcriptions 10X faster than industry standards. The platform uses generative AI (Gen.V™) to transform raw audio into actionable insights through real-time summaries, keywords, and metadata. Serving 3,000+ businesses across education, legal, media, government, and corporate sectors, Verbit differentiates itself through industry-specific AI training and a hybrid human-AI approach that maximizes both accuracy and efficiency.

Problem solved

Organizations need fast, accurate transcription and actionable insights from audio content but struggle with manual transcription costs, turnaround times, and the inability to extract intelligence from captured conversations.

Target customer

Mid-market to enterprise organizations in education, legal, media, government, and corporate sectors that require high-accuracy transcription, captioning, and audio intelligence at scale.

Website LinkedIn Crunchbase

Founders

Tom Livne

Founder & CEO (departed ~2023)

Former lawyer and IDF Special Forces officer who founded Verbit in 2017 to disrupt the transcription industry; holds LL.B., B.A. (Cum Laude) from IDC Herzliya and MBA from Technion; now founding Grace, an AI drug discovery company.

Eric Shellef

Co-Founder (departed)

Co-founded Verbit in 2017; departed company.

Kobi Ben Tzvi

Co-Founder (departed)

Co-founded Verbit in 2017; departed company.

Funding history

Grant/Prize $60.1K January 2018 Led by Unknown · Unknown

Series A-C Unknown Unknown Led by Unknown · Viola Ventures, Oryzn Capital, HV Capital, ClalTech

Series D $157M June 2021 Led by Sapphire Ventures · Third Point, More Capital, Lion Investment Partners, ICON, Stripes, Vertex Ventures/Growth, ClalTech

Series E $250M November 23, 2021 Led by Third Point Ventures · Sapphire Ventures, More Capital, Disruptive AI, Vertex Growth, 40North, Samsung Next, TCP

Total raised: $550M

Industries

Productivity Software

Pricing

Self-service plan at $29/month for 20 hours of ASR transcription with editor access; Enterprise plans are custom and negotiated annually with observed ranges of $33,000-$75,000 average annual contracts.

Notable customers

3,000+ businesses and institutions across education, corporate, media, government, legal, and market research sectors; specific customer names not disclosed

Website

verbit.ai/

Competitors

ElevenLabs

Focuses on text-to-speech and voice AI; lacks the hybrid human-transcriber model and transcription-specific accuracy Verbit provides.

Deepgram

Pure AI/ASR play without human transcriber integration; generally lower accuracy for specialized industry content.

TranscribeMe

Human-centric transcription service; slower turnaround and less AI-driven insights compared to Verbit's hybrid approach.

Trint

Focused on media and journalism; less industry-specific AI training and enterprise capabilities than Verbit.

Otter.ai

Consumer and SMB-focused; lacks enterprise-grade accuracy, industry customization, and professional human transcriber network.

Why this matters: Verbit became a unicorn in just 4 years (2021) and raised $550M total funding, signaling strong market demand for AI-powered transcription at enterprise scale. The company's hybrid human-AI approach addresses a fundamental tension in AI: how to deliver both speed and accuracy in specialized domains where generic AI falls short, making it a compelling model for other vertical AI applications.

Best for: Enterprise and mid-market organizations that require 99.9% accurate transcription, real-time AI-generated insights, and industry-specific solutions across education, legal, media, or corporate sectors.

Use cases

Legal Discovery and Case Management

Law firms use Verbit to transcribe depositions, court hearings, and client calls with 99.9% accuracy and AI-generated summaries. The platform reduces manual review time and helps attorneys quickly identify key evidence and arguments without manually listening to hours of audio.

Educational Accessibility Compliance

Universities and schools use Verbit to automatically caption lectures and educational content in real-time, ensuring compliance with accessibility requirements like ADA while improving learning outcomes. The 10X faster turnaround means captions are ready before or immediately after classes.

Market Research and Consumer Insights

Research firms use Verbit to transcribe and analyze focus groups and customer interviews at scale. Gen.V™ automatically extracts keywords, sentiment, and themes, transforming hours of audio into actionable consumer insights within seconds.

Corporate Meeting Intelligence

Enterprises use Verbit to capture and analyze all-hands meetings, sales calls, and strategic discussions. The platform creates searchable transcripts with AI-generated action items, decisions, and summaries, reducing meeting follow-up overhead.

Alternatives

Otter.ai Cheaper and easier for SMBs and individuals, but lacks enterprise accuracy guarantees, industry-specific models, and professional transcriber fallback.

Rev Human-first transcription with faster turnaround than DIY tools, but slower and more expensive than Verbit's hybrid AI approach; no real-time AI insights.

Google Cloud Speech-to-Text Generic ASR without human transcribers or industry customization; lower accuracy for specialized content and no actionable AI insights platform.

FAQ

What does Verbit do? +

Verbit is a verbal intelligence platform that combines proprietary AI-based automatic speech recognition with professional human transcribers to deliver 99.9% accurate transcriptions in record time. It also uses generative AI to extract real-time insights like summaries, keywords, and metadata from audio content. The platform serves 3,000+ organizations across education, legal, media, government, and corporate sectors.

How much does Verbit cost? +

Verbit offers a self-service plan at $29/month for 20 hours of transcription per month. Enterprise customers negotiate custom annual contracts, typically ranging from $33,000 to $75,000 depending on volume and requirements. A free 30-minute trial is available for new users.

What are alternatives to Verbit? +

Main alternatives include Otter.ai (affordable but lower accuracy), Rev (human transcription but slower and more expensive), Deepgram (pure AI without human accuracy guarantee), and Google Cloud Speech-to-Text (generic ASR without industry customization).

Who uses Verbit? +

Verbit serves 3,000+ businesses and institutions including educational institutions, law firms, media companies, government agencies, market research firms, and large enterprises. Any organization that needs high-accuracy transcription, captions, or audio intelligence at scale is a potential customer.

How does Verbit compare to Deepgram? +

Verbit combines AI with professional human transcribers to achieve 99.9% accuracy and serves industry-specific needs with AI trained on vertical data. Deepgram is pure ASR without human transcribers, resulting in lower accuracy for specialized content and no industry customization. Verbit also offers real-time AI insights through Gen.V™, while Deepgram focuses primarily on speech recognition API.

What makes Verbit's accuracy so high? +

Verbit uses a hybrid approach combining its proprietary Captivate™ ASR technology (trained on industry-specific data) with a network of professional human transcribers. The AI handles the heavy lifting while humans review and correct for final accuracy, and domain-specific training means the AI understands legal terminology, medical jargon, etc. This achieves 99.9% accuracy and 10X faster turnaround than traditional manual transcription.