Friday, September 17, 2021

Deepgram Launches $ 10 Million Speech Recognition Starter Program

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Deepgram, a startup that develops speech recognition models for businesses, today announced the Deepgram Startup Program to provide selected businesses with custom speech models. Along with this news, Deepgram has added a variety of features to its platform, including a revamped development console, software development kits, and API documentation.

“The pandemic accelerated the need for digital experiences and voice technology emerged as a must-have for companies looking to stay connected with both employees and customers,” CEO and co-founder Scott Stephenson told VentureBeat via email. “With the Deepgram Starter Program, we are arming the next generation of startup companies and developers with the tools they need to excel in the speech space.”

Deepgram startup program

According to Stephensen, the Deepgram starter program is designed to help entrepreneurs and developers “harness the power of speech recognition quickly and easily at no cost.” As part of the program, Deepgram will offer $ 10 million in free credits, with a specific focus on startups in education and employee experiences.

While it’s smaller in scale than, say, Amazon’s Alexa Accelerator, businesses participating in the Deepgram Starter Program won’t have to pay a fee or give up equity. Additionally, grantees will be able to use the funds in conjunction with any existing grant, seed, incubator, and acceleration benefits.

“We strongly believe that speech is the next programmable interface, and with these updates we are excited to see the opportunities that speech recognition will continue to create,” continued Stephenson.

New features

Among the capabilities that Deepgram released to coincide with the launch of the Deepgram Starter Program, the highlight is an improved developer console. One of the key features is Missions, which gives users a learning path to get started with Deepgram. The console also aims to simplify usage and billing by offering promotional credits and automated re-enrollment, as well as account management.

As for software development kits, they allow developers to transcribe both streaming and prerecorded audio, taking advantage of libraries, documentation, code samples, and processes written for Python and Node.js.

The Deepgram Starter Program and new features come after Deepgram raised $ 25 million in capital from Tiger Global and other investors. The San Francisco, California-based Y Combinator graduate, which was founded in 2015 by Noah Shutty and Stephenson, claims to have processed more than 100 billion words to date for his more than 60 clients.

Deepgram is far from the only player in a speech and speech recognition technology market that is anticipated to pay off. $ 31.82 billion by 2025. Tech giants like Nuance, Cisco, Google, Microsoft, and Amazon offer real-time captioning and voice transcription services, as do startups like Otter. There’s also Verbit, which recently raised $ 31 million for its human artificial intelligence transcription technology on the circuit; Oto Systems, which in December 2019 raised $ 5.3 million to improve speech recognition with intonation data; and Voicera, which has raised tens of millions from artificial intelligence that extracts insights from meeting notes.

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