Israel-based company Voiceitt, a leader in speech recognition technology, has reportedly raised an additional USD 10 million in a Series-A financial round which had closed on 30th June 2020. Sources close to the matter stated that the company has now secured over USD 15 million.
New York-based financial brokerage provider Cahn Capital Corp acted as investment bankers for the company. Other investors that participated in the funding round included Quake Capital, AARP, Microsoft’s M12, Viking Maccabee Ventures, Dreamit Ventures, and Connecticut Innovations among others.
For those uninitiated, Voiceitt’s application provides real-time translation of atypical and incomprehensible speech which further allows for effective voice communication for people with serious speech disabilities.
CEO & Co-Founder of Voiceitt Danny Weissberg, was reported saying that the company aims at providing speech and motor impaired people with a better quality of life along with a feeling of independence. Elaborating on the impact of the COVID-19 pandemic, he stated that the company also intends to support healthcare professionals and assist them in taking care of their patients.
One of the key investors in the funding round, Viking Maccabee Ventures, mentioned in a comment that Voiceitt has matured over the years and the company’s technology will give a voice to those who cannot speak.
Sara A. Smolley, EVP & CEO of Voiceitt claimed that the company aims to integrate its customizable speech with mainstream voice technologies in order to enable environmental controllability through a universally accessible system.
According to reliable sources, the Department of Intellectual and Development Disabilities (DIDD) is a major partner of Voiceitt. In this context, Brad Turner, DIDD Commissioner reportedly said that the organization is looking forward to expand its use of Voiceitt’s innovative products to offer better opportunities for people with disabilities to close the gap of communication.
Notably, Voiceitt’s network of international partners primarily includes disability organizations, speech therapists, and healthcare providers across Europe and United States.