Verbit's total funding now exceeds $550 million (including secondary transactions) since the company’s inception in 2017.

The funding will be used to improve and develop the company's products, support R&D, and help prepare Verbit for a public offering.

Founded in 2017 by Eric Shellef, Kobi Ben Tzvi and Tom Livne, Verbit harnesses artificial and human intelligence to provide a smart transcription and captioning solution.