SAN FRANCISCO — Deepgram, which specializes in enterprise-level Automated Speech Recognition (ASR) technology, has raised a $25 million Series B round led by Tiger Global with participation from Citi Ventures, Wing VC, SAP.io and NVIDIA Inception GPU Ventures.
“Voice is the largest treasure trove of enterprise data waiting to be unlocked. Deepgram is modernizing speech recognition for the modern enterprise, making it fast and simple to unearth valuable data from any conversation, meeting or customer interaction,” Zach DeWitt, Partner at Wing VC. “Today’s speech recognition technology is designed for simple queries, think your Alexa or Siri, but enterprise speech is more complicated. You have multiple people speaking over each other with industry-specific jargon. Deepgram’s end-to-end deep learning approach is revolutionizing what data can be extracted from voice, providing enterprise customers unparalleled accuracy and scalability.”
With advancements in Artificial Intelligence (AI) and Natural Language Processing (NLP), Deepgram now has the ability to deliver highly accurate transcriptions in real-time. The company trains its speech models to learn and adapt under complex, real-world scenarios, taking into account customers’ unique vocabularies, accents, product names, and background noise. This enables Deep gram to provide customers with transcriptions that are over 95% accurate.
Y Combinator invested in Deepgram in 2017.