Deepgram, a San Francisco, CA-based speech recognition platform for the enterprise, raised $12m in Series A funding.
The round was led by Wing VC, with participation from SAP.iO and Nvidia.
The company, which has raised $13.9m to date, intends to use the funds to expand operations and its business reach.
Founded in 2015 by Scott Stephenson, CEO, Deepgram uses end-to-end deep learning technology built with GPUs to provide companies and individuals with automatic speech recognition (ASR) that is powered by advanced, multi-layered machine learning technology. Its current product, Deepgram Brain provides transcription and audio search capabilities for individuals and enterprises.
Along with the Series A, the company will announce two new features of its platform:
– Real-Time Streaming (an industry-first advancement that lets customers analyze and transcribe speech as words are being spoken) and
– On-Premises Deployment (provides a private, deployable instance of the platform for use cases involving confidential, regulated or otherwise sensitive audio data.)
Since going to market, Deepgram has amassed more than 30 customers across the call center, retail and tech industries.