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Verbit's platform uses AI and a network of 22;;000 human transcribers to provide what it calls \"industry leading\" transcription services. \"We closed our Series B in January but then COVID-19 hit and there was a lot of uncertainty in the market;;\" Verbit CEO and founder Tom Livne;; told Business Insider in an interview. Visit Business Insider's homepage for more stories.", "slideCount": 14, "companyName": "Verbit", "description": "Israeli AI transcription startup Verbit has raised a $60 million Series C round. Verbit's platform uses AI and a network of 22;;000 human transcribers to provide what it calls \"industry leading\" transcription services. \"We closed our Series B in January but then COVID-19 hit and there was a lot of uncertainty in the market;;\" Verbit CEO and founder Tom Livne;; told Business Insider in an interview. Visit Business Insider's homepage for more stories. Israeli human/AI transcription startup Verbit has raised a $60 million Series C round led by Sapphire Ventures. Founded in 2016;; Verbit's platform uses AI;; machine learning and natural language processing;; combined with a network of 22;;000 human transcribers to provide transcription services. \"We closed our Series B in January but then COVID-19 hit and there was a lot of uncertainty in the market;;\" Verbit CEO and founder Tom Livne;; told Business Insider;; adding that the firm saw an uptick in demand. Livne said revenue was up 5x in the third quarter compared to 2019;; though he didn't delve into figures. Funding took place over Zoom;; with Livne spending much of his time during the fundraise on a working holiday in Greece. Funding took less than two months to complete. Verbit's round also saw participation from existing investors Vertex Ventures;; Stripes;; HV Ventures;; and ClalTech;; as well as new investor Vertex Growth. 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