Overview of the transaction
Speechmatics, one of the industry leaders in Autonomous Speech Recognition (“ASR”), has announced its $62m Series B funding round led by funds managed by Susquehanna Growth Equity. Existing investors IQ Capital and AlbionVC also participated in the round.
The funding will be used to further develop Speechmatics’ unique learning models and improve accuracy, invest in technology and business development, while enabling Speechmatics to exceed the demands of its fast-expanding enterprise customer base.
Overview of Speechmatics
Founded in 2006 and based in Cambridge, UK, Speechmatics has built a market-leading technology, based on selfsupervised neural networks. Speechmatics’ ASR allows companies to leverage the power of unstructured data, facilitating a seamless human-to-machine interaction for everyone.
Its next-generation self-supervised learning models can exploit millions of hours of unlabeled audio, building new models with 100x less labeled data to achieve the same accuracy, delivering the most accurate, flexible and inclusive speech-to-text on the market.
Speechmatics’ market leading ASR capabilities have attracted many blue-chip customers across various verticals including what3words, 3Play Media, Veritone, Deloitte UK and Vonage.
Royal Park Partners' role
Royal Park Partners acted as exclusive financial and strategic advisor to Speechmatics and its shareholders throughout the transaction.
This transaction highlights Royal Park Partners’ extensive experience in the deep tech and SaaS space servicing financial services companies.
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