San Francisco, CA — AssemblyAI, a leading provider of speech AI solutions, has announced the successful completion of its Series C funding round, securing $50 million in new capital. The round was led by Accel, a prominent venture capital firm with a proven track record of backing successful technology startups. Additional participation in the round came from Insight Partners, Keith Block’s Smith Point Capital, Daniel Gross, Nat Friedman, and Y Combinator, further demonstrating the strong industry support for AssemblyAI’s innovative technology and ambitious vision.
The substantial investment will fuel AssemblyAI’s continued growth and expansion, enabling the company to advance its research initiatives, develop cutting-edge speech AI models, expand its training compute infrastructure, and broaden its global market reach. Additionally, the funds will support the company’s efforts to attract and retain top talent, building a world-class team to drive innovation and deliver exceptional products and services to its customers.
Led by Dylan Fox, Founder & CEO, AssemblyAI has established itself as a pioneer in the speech AI domain, offering a comprehensive suite of APIs for speech-to-text conversion, speaker detection, sentiment analysis, chapter detection, and PII redaction. These powerful tools empower businesses to harness the power of voice data, extracting valuable insights and automating tasks to enhance customer experiences, streamline operations, and gain a competitive edge.
AssemblyAI’s APIs are currently serving over 25 million inference calls daily, processing over 10 terabytes of voice data, and empowering a diverse range of customers, including startups like Fireflies.ai, Veed, TypeForm, Close, Loop Media, and CallRail. Organizations across virtually every industry are leveraging AssemblyAI’s solutions to seamlessly integrate speech AI capabilities into their products, systems, and workflows, unlocking new possibilities for innovation and growth.
With the additional funding from its Series C round, AssemblyAI is poised to solidify its position as a leader in the speech AI landscape. The company’s unwavering commitment to research, development, and innovation will continue to drive the creation of groundbreaking speech AI solutions that empower businesses to transform their operations and achieve remarkable results.
Deal Table
| Key People | Investors | Amount Invested | Sector | Funding Round |
|---|---|---|---|---|
| Dylan Fox, Founder & CEO | Accel, Insight Partners, Keith Block’s Smith Point Capital, Daniel Gross, Nat Friedman, and Y Combinator | $50 million | Artificial Intelligence | Series C |
