Speechmatics raises £6.35 million to fund global expansion

Speechmatics has built one of the most accurate speech recognition technology engines in the world. The technology is currently available in 29 languages, either in the cloud or, crucially, on-premises – a critical feature for businesses who do not wish or are unable to share data in the cloud. Speechmatics was recently awarded a Queen's Award for Enterprise in the'Innovation' category for 2019. The automatic speech recognition (ASR) market is currently worth $7.5bn and is projected to be worth $21.5bn by 2024. Applications of Speechmatics technology include almost instant transcription of audio files, live subtitling in broadcast, and the conversion of call centre recordings into text.