AAA Deepgram tips the scales to raise $12m

Deepgram tips the scales to raise $12m

US-based speech recognition technology developer Deepgram has secured $12m in a series A round featuring graphics processing unit (GPU) provider Nvidia and SAP.io, the corporate venturing arm of enterprise software producer SAP.

Venture capital firm Wing VC led the round, which included Y Combinator and Compound. It followed a $1.8m seed round co-led by Y Combinator and Metamorphic Ventures in 2016 and an undisclosed amount from Nvidia unit Nvidia GPU Ventures in March 2018.

Deepgram has developed machine learning-equipped speech recognition software that can derive and organise information from audio files generated even from aurally challenged sources like phone calls or meetings. Its early backers also include Zillionize and Boost VC.

Jeff Herbst, vice-president of business development for Nvidia, said: “One of the next big frontiers in the AI revolution is conversational intelligence.

“Deepgram is doing ground-breaking work in this field, and we are delighted to be working closely with them. Their world class GPU-accelerated speech recognition enables faster, more accurate natural language processing that will make an important impact on a range of industries.”

By Robert Lavine

Robert Lavine is special features editor for Global Venturing.

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