Software Startup "Transcribe Me" Successful in $1.2 Million Funding Round

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The winners of last year’s Auckland Startup Weekend, Transcribe Me, have closed an angel investment round, raising $1.2 million. The investment came from a consortium of private investors in New Zealand, the US, and Europe.

Transcribe Me’s SaaS (software as a service) app allows you to record speech, such as lectures and interviews, on your smartphone, and transcribe it into text with a push of a button. A Word document of the recording is sent to you within 48 hours.

What brings an edge to the service is that it combines voice-recognition algorithms with crowd-sourced human transcribers.

A key differentiator for the company is it’s use of microtasking to speed up the process. Instead of having one person go through an hour of recording, they split it into 10-second clips and send each clip out to multiple transcribers.

Transcribe Me co-founder Danijel Duvnjak was a member of the team that established our Wellington BizDojo operation last year, and it’s fantastic to see him and the rest of the Transcribe Me team achieving such a great result off the back of their Startup Weekend beginnings.

We look forward to hearing more good news as they continue to develop and grow their unique product!