Top 12 Speech Recognition Startups to Look Out For in [2023]

Have you ever wondered who is on the list of Speech Recognition Companies with the highest growth rates?

You’re not alone.

There are hundreds of Speech Recognition Companies found there, and keeping track of the hottest new startups can be challenging.

But don’t worry, we’ve got you covered. Here are the top 12 fast-growing Speech Recognition Startups that have top-tier venture capital funding.

What is Speech Recognition Startups?

Speech recognition startups are companies that are focused on developing and commercializing technologies related to speech recognition. 

These companies develop algorithms and software that enable the recognition and understanding of spoken language, using AI and machine learning. 

These technologies are used in a variety of applications, from voice-powered virtual assistants to text-to-speech systems.

Top 12 Fastest-Growing Startups In Speech Recognition

1) Observe.AI

Observe.AI is a software firm that develops contact center software using AI, Natural Language Processing, and analytics.

Details of the startup:

• Country: United States
• City: San Francisco
• Started in: 2017
• Founders: Akash Singh, Sharath Keshava Narayana, Swapnil Jain
• Number of employees: 101-250
• Funding amount: $88,120,000
• Number of funding rounds: 5
• Number of investors: 15

You can find their website here.

2) Hive

Hive is a cloud-based enterprise AI company that specializes in intelligent automation.

Details of the startup:

• Country: United States
• City: San Francisco
• Started in: 2013
• Founders: Dmitriy Karpman, Kevin Guo
• Number of employees: 101-250
• Funding amount: $120,700,000
• Number of funding rounds: 5
• Number of investors: 12

You can find their website here.

3) Sense

For its customers, Sense specializes in designing and delivering tracking devices and home automation systems.

Details of the startup:

• Country: United States
• City: Cambridge-US
• Started in: 2013
• Founders: Christopher Micali, Mike Phillips, Ryan Houlette
• Number of employees: 251-500
• Funding amount: $46,999,998
• Number of funding rounds: 4
• Number of investors: 13

You can find their website here.

4) Rev.com

Rev is the world’s largest and most popular voice-to-text service, combining human and artificial intelligence.

Details of the startup:

• Country: United States
• City: Austin
• Started in: 2010
• Founders: Dan Kokotov, David Abrameto, Jason Chicola, Josh Breinlinger, Mark Chen, Paul Huck
• Number of employees: 251-500
• Funding amount: $33,000,000
• Number of funding rounds: 1
• Number of investors: 3

You can find their website here.

5) Vernacular.ai

By automating call center queries, we assist businesses in improving customer experience through intelligent voice chats.

Details of the startup:

• Country: India
• City: Bengaluru
• Started in: 2016
• Founders: Akshay Deshraj, Manoj Sarda, Sourabh Gupta
• Number of employees: 51-100
• Funding amount: $5,100,000
• Number of funding rounds: 4
• Number of investors: 7

You can find their website here.

6) Mihup Communications

App that uses artificial intelligence to act as a personal mobile assistant

Details of the startup:

• Country: India
• City: Kolkata
• Started in: 2016
• Founders: Biplab Chakraborty, Sandipan Chattopadhyay, Sandipan Mandal, Tapan Barman
• Number of employees: 11-50
• Funding amount: $10,000,752
• Number of funding rounds: 3
• Number of investors: 4

You can find their website here.

7) Soapbox Labs

SoapBox Labs’ privacy-first speech recognition software allows kids of different ages, accents, and dialects to have voice-enabled experiences.

Details of the startup:

• Country: Ireland
• City: Dublin
• Started in: 2013
• Founders: Patricia Scanlon
• Number of employees: 11-50
• Funding amount: $11,777,501
• Number of funding rounds: 4
• Number of investors: 6

You can find their website here.

8) WIZ.AI

WIZ.AI is an artificial intelligence startup that offers comprehensive artificial intelligence services.

Details of the startup:

• Country: Singapore
• City: Singapore
• Started in: 2019
• Number of employees: 51-100
• Funding amount: $6,000,000
• Number of funding rounds: 2
• Number of investors: 4

You can find their website here.

9) Unisound

Beijing Yunzhisheng Information Technology is a mobile internet firm specializing in voice and speech processing.

Details of the startup:

• Country: China
• City: Beijing
• Started in: 2012
• Founders: Huang Wei, Jiaen Liang, Zhao Yiyang
• Number of employees: 101-250
• Funding amount: $301,442,496
• Number of funding rounds: 8
• Number of investors: 13

You can find their website here.

10) Winterlight Labs

Winterlight develops technologies that can detect indicators of cognitive decline in a sample of speech fast and correctly.

Details of the startup:

• Country: Canada
• City: Toronto
• Started in: 2015
• Founders: Frank Rudzicz, Kathleen Fraser, Liam Kaufman, Maria Yancheva
• Number of employees: 11-50
• Funding amount: $5,230,000
• Number of funding rounds: 4
• Number of investors: 7

You can find their website here.

11) Daisee

In the realms of vision and voice, Daisee bridges the gap between technical AI and commercial implementation.

Details of the startup:

• Country: Australia
• City: Sydney
• Started in: 2017
• Founders: Richard Kimber
• Number of employees: 11-50
• Funding amount: A$8,800,000
• Number of funding rounds: 1
• Number of investors: 1

You can find their website here.

12) SoundAI

SoundAI is a technology and artificial intelligence interface firm that specializes on acoustics frontier technologies.

Details of the startup:

• Country: China
• City: Beijing
• Started in: 2016
• Founders: Chang Le, Xiaoliang Chen
• Number of employees: 11-50
• Funding amount: CN¥580,000,000
• Number of funding rounds: 4
• Number of investors: 10

You can find their website here.

FAQs

Is Speech Recognition Business Profitable?

Yes, speech recognition business can be profitable. The increasing demand for voice search and voice recognition technology has made this a lucrative market for businesses. 

Companies such as Amazon, Google, and Apple are investing heavily in the development of speech recognition technology, and this is a sign that this market is on the rise. 

There are also many smaller companies that are providing software and services related to speech recognition and voice search. 

Therefore, this can be a lucrative business for those who are willing to invest in the right product and services.

What Is The Average Investment In Speech Recognition?

The average investment in speech recognition startups is estimated to be around $10 million. However, this number can vary widely depending on the size of the company and the goals of the investors.