Verbit, an Israel-headquartered developer of educational media software, has received $60m in series C funding from investors including ClalTech, a venture capital arm of diversified conglomerate Access Industries.
VC firm Sapphire Ventures led the round, investing alongside Vertex Ventures, Stripes, HV Ventures and Vertex Growth. It increased the company’s overall funding to $125m and Jai Das, managing director and president of Sapphire Ventures, has taken a board seat.
Founded in 2017, Verbit is the creator of a transcription software platform for industries such as the legal and education sectors.
The company has since branched out into video and audio captioning as well as a range of areas linked to remote working, such as software tools that help students engage with educational providers through online streams or lessons.
Vertex Ventures, Oryzn Capital and HV Ventures (then known as HV Holtzbrinck Ventures) supplied $11m in seed capital for Verbit in mid-2018 before returning for a $23m series A round led by Viola Ventures and also backed by ClalTech and Vintage Venture Partners, in January 2019.
Stripes subsequently led the company’s $31m series B round in January this year, investing together with Claltech, Viola Ventures, Vertex Ventures, HV Ventures and Oryzn Capital.
