Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Kiwi Startup TranscribeMe Raises over $1.2m from Investors

Press Release

Kiwi Startup TranscribeMe Raises over $1.2m from Investors in New Zealand and Silicon Valley

Oversubscribed funding round draws attention to TranscribeMe’s potential to grow its market leadership worldwide

Auckland, November 29, 2012

-- TranscribeMe, an innovator in the voice--to--text transcription space, has successfully closed an oversubscribed Angel Investment Round, raising NZD $1.2 million from private investors in New Zealand, US and Europe.

The funds raised will be used to support the rapid growth of TranscribeMe’s hybrid transcription platform, which uniquely converts audio and video into searchable and shareable text. As early investors in the venture, New Zealand--based ICE Angels continued to back the company in this round with additional investment.

Joining ICE Angels were investors from leading US--based syndicates including Tech Coast Angels, Sierra Angels and Maverick Angels. Bringing together global investors into a venture round in a New Zealand startup gave TranscribeMe access to not only investment capital, but also access to the business networks of the new investors in global markets. “It is exciting to see local and offshore Angels invest in the growth of TranscribeMe,” says The ICEHOUSE CEO Andy Hamilton, “This country’s dynamic start--ups are an important economic engine and we need investors to step up to allow them to focus on building getting traction in their niche and growing internationally.”

A Kiwi startup founded at Startup Weekend Auckland 2011, TranscribeMe’s mission is to maximize the value of audio and video content through transcription. To achieve this goal, the team at TranscribeMe pioneered a hybrid platform that combines speech recognition algorithms with the power of crowd--sourced transcribers working from all over the world.

TranscribeMe efficiency comes from its ability to intelligently process, slice and micro--task the transcription of audio and video. This round of funding will enable the company to accelerate the growth of its crowd and make the service available to a wider customer base. “TranscribeMe is a new platform for accurately converting voice to text using our voice recognition and micro--tasking technology,” says CEO Alexei Dunayev.

“It is scalable, confidential, and specialized and our global on--demand service delivers 500% increased efficiency service to customers from market research to education and medical practitioners.”


Microtasking is the next wave in efficient workforce management. By building its own platform for managing crowd workers rather than using a traditional marketplace model, TranscribeMe is able to deliver a secure and confidential service, as well as control, train, and up--skill its crowd of thousands of workers. TranscribeMe also has established integration partnerships with Evernote, Livescribe and select VoIP providers. Industry thought leaders like GigaOM note that a key limitation in the crowd labor marketplace has been platform weakness. Supported from early stages by Microsoft New Zealand and recently promoted to the prestigious Microsoft BizSpark One partnership program, TranscribeMe leverages a stable and secure Windows Azure foundation on which to build its key specialization – complex audio processing, by using proprietary automated speech recognition technology and intelligent crowd--sourced micro--tasking.

About TranscribeMe

TranscribeMe makes audio and video content searchable and shareable by converting speech--to-- text, fast. The company delivers best--in--class audio conversion using a hybrid model that combines software with a crowd--sourced human platform. TranscribeMe offers a fast, accurate and highly available transcription service for medical professionals, corporations, conferences, writers, podcasters and academics to analyze, search, share and monetize their audio content by transcribing it to word--for--word perfect text. ###

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Cosmetics & Pollution: Proposal To Ban Microbeads

Cosmetic products containing microbeads will be banned under a proposal announced by the Minister for the Environment today. Marine scientists have been advocating for a ban on the microplastics, which have been found to quickly enter waterways and harm marine life. More>>

ALSO:

NIWA: 2016 New Zealand’s Warmest Year On Record

Annual temperatures were above average (0.51°C to 1.20°C above the annual average) throughout the country, with very few locations observing near average temperatures (within 0.5°C of the annual average) or lower. The year 2016 was the warmest on record for New Zealand, based on NIWA’s seven-station series which begins in 1909. More>>

ALSO:

Farewell 2016: NZ Economy Flies Through 2016's Political Curveballs

Dec. 23 (BusinessDesk) - New Zealand's economy batted away some curly political curveballs of 2016 to end the year on a high note, with its twin planks of a booming construction sector and rampant tourism soon to be joined by a resurgent dairy industry. More>>

ALSO:


NZ Economy: More Growth Than Expected In 3rd Qtr

Dec. 22 (BusinessDesk) - New Zealand's economy grew at a faster pace than expected in the September quarter as a booming construction sector continued to underpin activity, spilling over into related building services, and was bolstered by tourism and transport ... More>>

  • NZ Govt - Solid growth for NZ despite fragile world economy
  • NZ Council of Trade Unions - Government needs to ensure economy raises living standards
  • KiwiRail Goes Deisel: Cans electric trains on partially electrified North Island trunkline

    Dec. 21 (BusinessDesk) – KiwiRail, the state-owned rail and freight operator, said a small fleet of electric trains on New Zealand’s North Island would be phased out over the next two years and replaced with diesel locomotives. More>>

  • KiwiRail - KiwiRail announces fleet decision on North Island line
  • Greens - Ditching electric trains massive step backwards
  • Labour - Bill English turns ‘Think Big’ into ‘Think Backwards’
  • First Union - Train drivers condemn KiwiRail’s return to “dirty diesel”
  • NZ First - KiwiRail Going Backwards for Xmas
  • NIWA: The Year's Top Science Findings

    Since 1972 NIWA has operated a Clean Air Monitoring Station at Baring Head, near Wellington... In June, Baring Head’s carbon dioxide readings officially passed 400 parts per million (ppm), a level last reached more than three million years ago. More>>

    ALSO:

    Get More From Scoop

     
     
     
     
     
     
     
     
    Business
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news