We Raised $25 Million from Tiger Global and Others to Unlock the Power of Voice Data and Fuel the World’s Big Ideas
Over the past year, we have seen the speech recognition market evolve like never before. When we first announced our Series A in March 2020, enterprises were starting to recognize the impact a tailored approach to speech could have on their business. Yet, there was no "race to space" moment driving companies to adopt a new solution, especially when their existing provider was working "fine." That quickly changed when COVID-19 hit. Companies were at an inflection point and forced to fast track digital transformation initiatives, compressing years of well-thought-out plans into mere months, and quickly transitioning teams to a remote workforce. The pandemic exposed the cracks in the foundation-while many enterprises were loosely prepared to adopt a remote workforce, the technology in play was not adequate. Voice enabled technology for example, which was considered a "nice to have", quickly became a necessity for many businesses. At Deepgram, we take our role in this evolution very seriously. We are on a mission to set the standard for how to build voice enabled applications, and help enterprises differentiate themselves.