Verbit raises $250 million

New York-based interactive transcription and captioning start-up designed to generate detailed speech-to-text files Verbit has raised $250 million of Series E venture funding less than six months after closing a $157 million Series D round. The latest deal was led by Third Point Ventures and doubles the company’s valuation to $2 billion.

Founded in 2017, Verbit raised more than $550 million to date and currently serves more than 2,000 customers across the media, education, corporate, legal and government sector. The start-up’s notable clients include CNN, Fox, Disney, Coursera, Amazon, and Microsoft.