AssemblyAI, a company specializing in speech AI models, has announced that it has raised $50 million in Series C funding led by Accel. This brings AssemblyAI’s total funds raised to $115 million.
AssemblyAI’s goal is to build AI models that can unlock new opportunities for companies looking to embed AI applications leveraging voice data into their products, systems and workflows. Its latest AI model, Conformer-2, trained on 1.1 million hours of voice data, is capable of tasks like speech-to-text and speaker identification. AssemblyAI is also working on a universal model that will be trained on over 10 million hours of voice data.
AssemblyAI’s API is already in use by thousands of organizations, with more than 10,000 new organizations signing up every month. The funding will support AssemblyAI’s research plans, new model development, training compute, market expansion and team growth.
