Verbit Revenue, Valuation, Funding & Investors
Verbit is valued at $2B as of November 2021, a 20.0x multiple on its last reported $100M revenue.
Last Verbit valuation
$2B
Series E · Nov 2021
Last Verbit funding round
$150M
Series E · Nov 2021
Verbit revenue
$100M
Series E · Nov 2021
Key investors in Verbit
Vertex Ventures
HV Capital
Sapphire Ventures
Horizon Capital
ClalTech
Viola Ventures
About Verbit
Verbit is a New York-headquartered AI-powered accessibility company founded in 2017, offering live captioning, transcription, audio description, translation, and dubbing services. Solutions integrate with platforms like Zoom and Microsoft Teams for education, media, and enterprise clients including universities and broadcasters. The generative AI tools process spoken content for subtitles and notes.
Founded
2017
HQ
New York City, NYWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Services, Subscription
Revenue
$100M (Nov 2021)
Valuation
$2B (Nov 2021)
Verbit Valuation
Verbit is currently valued at $2B, based on its Series E in November 2021.
The $150M round was led by Third Point Ventures, with participation from More Capital, Samsung NEXT, 40 North Ventures, TCP Venture Capital, Disruptive AI Venture Capital and 3 other investors.
Verbit's valuation has grown 2.0x from $1B at its Series D in June 2021 to $2B in November 2021, across 3 priced rounds.
Verbit valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Nov 2021 | Series E | $2B | 20.0x |
| Nov 2021 | Secondary | $2B | 20.0x |
| Jun 2021 | Series D | $1B | 10.0x |
Verbit Revenue
Verbit's latest recorded revenue is $100M, as of its Series E in November 2021. At a $2B valuation, that implies a 20.0x revenue multiple.
Revenue moved from $100M in June 2021 to $100M in November 2021, while the revenue multiple moved from 10.0x to 20.0x.
Verbit revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Nov 2021 | $100M | $2B | 20.0x | Series E |
| Nov 2021 | $100M | $2B | 20.0x | Secondary |
| Jun 2021 | $100M | $1B | 10.0x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Verbit Funding History
Verbit has raised a total of $432M across 6 funding rounds, plus 1 secondary share sale.
Verbit's first fundraising round was a $11M seed round in March 2018. The most recent completed round was a $150M Series E in November 2021.
Verbit funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2021 | Series E | Third Point Ventures (lead); More Capital; Samsung NEXT; 40 North Ventures; TCP Venture Capital; Disruptive AI Venture Capital; Sapphire Ventures; Titan Capital Partners; Vertex Growth Fund | $150M | $2B | Verbit, an Israeli-founded AI-powered transcription and captioning platform combining human transcribers with voice AI technology, closed a $250 million Series E funding round on November 23, 2021, achieving a $2 billion post-money valuation, doubling from its prior $1 billion Series D valuation in May 2021. The round was led by Third Point Ventures with a $200 million investment (including $150 million primary and $100 million secondary), joined by existing investors Sapphire Ventures, More Capital, Disruptive AI, Vertex Growth, 40North, Samsung Next, and TCP, bringing total funding over $550 million. CEO Tom Livne highlighted the round's role in solidifying market leadership in the $30 billion transcription industry, funding product development, vertical/geographical expansion, acquisitions, and IPO preparations. Verbit reported over $100 million in annual recurring revenue (ARR) with 6x year-over-year growth, high customer retention of 163%, and cash efficiency at the time. The company served over 1,500 customers including CNN and Harvard, focusing on higher education, legal, and media sectors after acquiring VITAC. Investors praised Verbit's rapid scale, technology-driven growth, and consolidation potential in a fragmented market. Third Point's Robert Schwartz, joining the board, noted the team's exceptional execution. This followed the $157 million Series D led by Sapphire Ventures, marking Verbit as a unicorn just four years post-2017 founding, with plans for public listing. |
| Nov 2021 | Secondary | - | $100M | $2B | Verbit is an Israeli-founded AI-powered transcription and captioning platform serving over 2,000 customers in media, education, corporate, legal, and government sectors, including CNN, Disney, Harvard, and Microsoft. The company combines automated speech recognition with human transcribers for over 99% accuracy and rapid turnaround. On November 23, 2021, Verbit closed a $250 million Series E funding round, including $150 million primary and $100 million secondary, led by Third Point Ventures with participation from Sapphire Ventures, More Capital, Disruptive AI, Vertex Growth, 40North, Samsung Next, and TCP. This valued the company at $2 billion, doubling from its $1 billion Series D valuation in May 2021 after raising $157 million. Verbit's total funding exceeded $550 million since its 2017 inception. The company reported $100 million in annual revenue for 2021, reflecting sixfold year-over-year growth from 2020, along with over $100 million in annual recurring revenue. It employed nearly 500 staff, plus 35,000 freelance transcribers and 600 professional captioners globally, with 200 employees in Israel and the rest in the US. Proceeds from the Series E supported product development, geographical and vertical expansion, and 25 planned M&As over three years, following prior acquisitions like VITAC for $50 million. Verbit targeted an IPO and aimed to consolidate the $30 billion fragmented transcription market. |
| Jun 2021 | Series D | Sapphire Ventures (lead) | $157M | $1B | Verbit is an AI-powered transcription and captioning platform that combines artificial intelligence with human intelligence to provide accurate, real-time speech-to-text solutions, including translation and audio descriptions for accessibility. The company serves enterprise sectors like education, media, and business, positioning itself as a leader in the $30 billion transcription market through hybrid AI-human workflows and vertical-specific solutions. On June 8, 2021, Verbit raised $157 million in a Series D funding round led by Sapphire Ventures, with participation from new investors Third Point, More Capital, Lion Investment Partners, ICON Fund, and existing backers like Stripes, Vertex Ventures, HV Capital, Oryzn Capital, Viola Ventures, and ClalTech, achieving a post-money valuation over $1 billion and unicorn status. This round brought Verbit's total funding to over $250 million at the time, following a $60 million Series C in November 2020 also led by Sapphire Ventures. The capital was intended to fuel expansion into new market segments such as finance, insurance, cultural institutions, and call centers, support R&D for enhanced NLP and product capabilities, hire staff, and prepare for an eventual IPO, accelerated by pandemic-driven demand for video and audio communication tools. Verbit had recently acquired captioning provider VITAC, consolidating its position against competitors like Rev.com and 3Play Media. Post-Series D, Verbit continued aggressive growth, raising a $250 million Series E in November 2021 at a $2 billion valuation led by Third Point Ventures with Sapphire participation, totaling over $550 million raised. This later round highlighted 6x year-over-year revenue growth and over $100 million ARR, high customer retention, and plans for further acquisitions from a pipeline of over 1,000 targets, though these metrics post-date the queried Series D. The company aimed to modernize the transcription industry and pursue a public listing. |
| Nov 2020 | Series C | Sapphire Ventures (lead); Vertex Ventures; Scale-Up; ClalTech; HV Capital; Vertex Growth Fund; Stripes | $60M | - | Verbit, an AI-powered transcription and captioning platform, raised $60 million in a Series C funding round on November 19, 2020, led by Sapphire Ventures, with participation from existing investors Vertex Ventures, Stripes, HV Capital (also listed as HV Ventures), ClalTech, and new investor Vertex Growth (also listed as Scale-Up in query). This followed a $31 million Series B just 10 months prior, bringing total funding to over $100 million. The company reported over 400% year-over-year revenue growth and a revenue run-rate that grew five-fold since 2019, serving more than 400 enterprise customers in legal and higher education sectors, including universities and court reporting agencies. CEO Tom Livne highlighted the round as a strong endorsement of Verbit's hybrid AI-human transcription capabilities in the $30 billion transcription industry, with plans to invest in product innovation, expand into new verticals like finance, insurance, cultural institutions and call centers, increase language support, hire aggressively, pursue M&A (including a recent acquisition of an enterprise and higher education transcription provider), and grow internationally to accelerate customer digital transformation. Livne noted on a podcast that while not yet at a billion-dollar valuation, it was approaching, driven by COVID-accelerated 5x revenue growth in 2020, with ambitions to reach unicorn status and IPO independently within 2-3 years. Subsequent rounds marked rapid scaling: Series D in May 2021 raised $157 million led by Sapphire Ventures, achieving unicorn status with over $1 billion valuation; Series E in 2022 raised $250 million led by Third Point Ventures, doubling valuation to $2 billion and total funding past $550 million. Verbit focused on vertically integrated voice AI solutions for accessibility across industries. |
| Jan 2020 | Series B | Stripes (lead); Vertex Ventures; Viola Ventures; ClalTech; Horizon Capital; HV Capital | $31M | - | Verbit, a Tel Aviv-based AI-powered transcription and captioning platform combining human expertise with artificial intelligence, closed a $31 million Series B funding round on January 15, 2020, led by growth equity firm Stripes, with participation from existing investors Viola Ventures, Vertex Ventures, HV Capital (also listed as HV Ventures), Oryzn Capital, and ClalTech. This round brought the company's total funding to $65 million, following a $23 million Series A in January 2019 and an $11 million seed in March 2018. Proceeds from the Series B were allocated to accelerate growth, including expansion into new industry verticals, increasing language coverage, and advancing speech recognition technology, coinciding with the launch of real-time transcription and the opening of a New York office expected to triple in headcount by end of 2020. CEO Tom Livne highlighted Verbit's rapid rise to market leadership within three years, attributing momentum to its category-leading product. Stripes partner Saagar Kulkarni joined the board, emphasizing AI's potential to transform services. Around the round, Verbit projected reaching $100 million in revenue within four years, reflecting strong 2019 performance. This Series B preceded subsequent raises: a $60 million Series C in November 2020 led by Sapphire Ventures (total funding over $100 million), a $157 million Series D in June 2021, and later rounds culminating in a $2 billion valuation at Series E in 2023 with $250 million raised. |
| Jan 2019 | Series A | Viola Ventures (lead); Vertex Ventures; Vintage Investment Partners; ClalTech; Vertex Ventures Israel; Horizon Capital; HV Capital | $23M | - | Verbit is an AI-powered transcription and captioning platform that combines adaptive algorithms with a network of human transcribers to deliver high-accuracy speech-to-text solutions for professional users, targeting verticals like legal, academic, and higher education. The company, founded in 2016-2017 in Tel Aviv with a New York office, serves over 100 customers including Harvard, Stanford, and Coursera, focusing on horizontal services such as transcription and captioning. On January 29, 2019, Verbit closed a $23 million Series A funding round led by Viola Ventures, with participation from Vertex Ventures, HV Ventures (HV Capital), Oryzn Capital, Vintage Investment Partners (Vintage Venture Partners), and ClalTech (Clal-Tech). This brought total funding to $34 million following an $11 million seed round in March 2018, which had a post-money valuation of $20 million. The new funds were allocated to global growth, including scaling sales, marketing, and product teams, solution development, and U.S. expansion with a New York office. A spokesperson projected another 300% growth in 2019. The company's rapid valuation increase over ten months from the seed round highlighted its early-stage momentum in a manual, traditional market. Subsequent developments included a $31 million Series B round in January 2020 led by Stripes, with participation from the same investors, bringing total funding to $65 million. At that time, Verbit reported its valuation had doubled in the past year and revenue had tripled, with over 150 customers and plans to expand languages, verticals, and headcount. |
| Mar 2018 | Seed | Horizon Capital (lead); HV Capital (lead); Vertex Ventures Israel (lead); ATOORO FUND; Vertex Ventures; Bouaziz & Partners; Sarona Ventures; Discovery Ventures | $11M | - | Verbit raised $11 million in a seed funding round on March 29, 2018, led by Vertex Ventures, Orzyn Capital, and HV Ventures, with participation from other investors including ATOORO FUND, Bouaziz & Partners, Discovery Ventures, Horizon Capital, Sarona Ventures, and Vertex Ventures Israel. The Israeli startup, founded a year earlier by Tom Livne, Eric Shellef, and Kobi Ben-Tzvi, provides an online business transcription and video captioning service that integrates automatic speech recognition with human refinement to improve accuracy via machine learning. Verbit works with thousands of freelancers across over 20 countries and planned to use the funds to double its employee count in Israel. |
Who has invested in Verbit?
22 investors have backed Verbit across its funding rounds, including Vertex Ventures, HV Capital, Sapphire Ventures, Horizon Capital, ClalTech and Viola Ventures.
Lead investors include Third Point Ventures, Sapphire Ventures, Stripes, Viola Ventures, Horizon Capital and 2 other investors.
Verbit Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 Singapore | 4 | Participant | Mar 2018 | |
 Munich | 4 | Lead | Mar 2018 | |
 Tel Aviv | 3 | Participant | Jan 2019 | |
| Tel Aviv | 3 | Lead | Mar 2018 | |
| Austin, TX | 3 | Lead | Nov 2020 | |
| Herzliya | 2 | Lead | Jan 2019 | |
| Tel Aviv | 2 | Lead | Mar 2018 | |
| Singapore | 2 | Participant | Nov 2020 | |
| New York City, NY | 2 | Lead | Jan 2020 | |
 Beirut | 1 | Participant | Nov 2021 | |
| Tel Aviv | 1 | Participant | Mar 2018 | |
| San Francisco, CA | 1 | Participant | Nov 2020 | |
| San Francisco, CA | 1 | Participant | Nov 2021 | |
This data is available for Pro users. Sign up to see all 22 Verbit investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Verbit
Verbit has acquired 5 companies to date.
Last acquisition by Verbit was on July 28th 2022. Verbit acquired Take 1 for undisclosed valuation.
Latest Acquisitions by Verbit
| Description | Take 1 is a London-based transcription service delivering verbatim transcripts, post-production scripts, and subtitles for film, television, and radio broadcasters. The company handles multi-language transcription for documentaries, dramas, and podcasts, using secure platforms for timecoded outputs. Take 1 serves UK production houses like BBC and ITV with rush services and verified accuracy. | U.S. Captioning is a Portland-headquartered provider of real-time and post-production closed captioning services supporting over 45 languages for broadcast television, streaming platforms, and live events. The company delivers FCC-compliant subtitles using stenography and AI-assisted transcription for networks like ESPN and corporate webinars. | Take Note is a UK-based transcription service with 600 in-house transcribers specializing in market research focus groups and interviews. Offering verbatim, intelligent verbatim, and live captioning, the company serves agencies like Kantar from its Manchester headquarters. Certified to ISO 27001 standards since 2015, Take Note handles legal and medical dictations. | Automatic Sync Technologies is a Portland, Oregon-based provider of automated closed captioning, subtitling, and transcription services. The platform processes live and post-production media using AI and human review, delivering FCC-compliant files in SRT, TTML, and WebVTT formats. AST has produced over 5 million caption files for 5,000 clients in education, government, and corporate sectors since 2002. Funded by a 2003 U.S. Department of Education SBIR grant, it supports 99.9% accuracy for broadcast and streaming. | |
| HQ Country |  | | | | |
| HQ City | Tunbridge Wells | Green Bay, WI | London | Cheyenne, WY | |
| Deal Date | 28 Jul 2022 | 12 May 2022 | 3 Mar 2022 | 14 Dec 2021 | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all Verbit acquisitions and their M&A valuation multiples. Start Free Trial | |||||
Verbit Competitors
Verbit competitors include listed companies like Ncino and Amagi Media Labs, and private ones like Cloudinary, Cosm, Feedzai and Rogo.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Cloudinary | San Jose, CA | Private | $100M | - | $2B | 20.0x |
| Los Angeles, CA | Private | $54M | - | $2B | 37.0x | |
 Coimbra | Private | - | - | $2B | - | |
| New York City, NY | Private | $53M | - | $2B | - | |
| United States | Publicly listed | $595M | $65M | $2.3B | 4.0x | |
 India | Publicly listed | $157M | $8M | $1.3B | 6.3x |
Verbit Public Comps
Verbit is still privately-owned, but its public comps include Haizhi, Ncino, Affle 3i, C3.ai, Wenge AI, TRS Information Technology, PCITECH, Fractal Analytics, Amagi Media Labs and Harmonic.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $93M | ($30M) | 21.5x | 16.3x | (67.1x) | (440.4x) | |||
| $595M | $65M | 4.3x | 4.0x | 39.0x | 15.8x | |||
| $282M | $67M | 7.4x | 6.7x | 31.3x | 29.5x | |||
| $250M | ($484M) | 4.3x | 4.5x | (2.2x) | (6.2x) | |||
| $60M | ($20M) | 27.6x | - | (82.7x) | - | |||
| $76M | ($20M) | 19.3x | 19.7x | (73.5x) | 478.8x | |||
| $1.5B | $53M | 0.8x | 0.9x | 24.1x | - | |||
| $344M | $50M | 3.7x | 3.4x | 25.8x | 21.0x | |||
This data is available for Pro users. Sign up to see all Verbit competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Verbit
| When was Verbit founded? | Verbit was founded in 2017. |
| Where is Verbit headquartered? | Verbit is headquartered in New York City, NY, United States. |
| Is Verbit publicly listed? | No, Verbit is a private, VC-backed company. |
| What is Verbit's valuation? | Verbit was last valued at $2B in its Series E in November 2021. |
| How much funding has Verbit raised? | Verbit has raised $432M across 6 funding rounds. |
| What was Verbit's last funding round? | Verbit's last funding round was a $150M Series E in November 2021, led by Third Point Ventures. |
| Who are Verbit's investors? | Verbit's investors include Vertex Ventures, HV Capital, ClalTech, Horizon Capital, Sapphire Ventures, Viola Ventures, Vertex Ventures Israel, Vertex Growth Fund, Stripes, More Capital and 12 others. |
| What is Verbit's revenue? | Verbit's latest recorded revenue is $100M (November 2021). |
| What is Verbit's revenue multiple? | Verbit's latest valuation implies a 20.0x revenue multiple ($2B valuation on $100M of revenue). |
| Which companies are comparable to Verbit? | Companies comparable to Verbit include Cloudinary, Cosm, Feedzai, Rogo, Ncino and Amagi Media Labs. |
| How many companies has Verbit acquired? | Verbit has acquired 5 companies, including Take 1, U.S. Captioning, Take Note, Automatic Sync Technologies and Vitac Corporation. |
| What was the largest acquisition by Verbit? | The $50M acquisition of Vitac Corporation in May 2021 is the largest acquisition Verbit has made to date. |
See companies similar to Verbit
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.