Insight Partners Join $50M Series C For AssemblyAI

December 5, 2023

AssemblyAI, a San Francisco, CA-based speech AI company, raised $50M in Series C funding.

The round, which brought AssemblyAI’s total funds raised to $115M, was led by Accel, with participation from Insight Partners, Keith Block’s Smith Point Capital, Daniel Gross, Nat Friedman, and Y Combinator.

The company intends to use the funds to support its research plans, new model development, training compute, market expansion, as well as build the team.

Led by Dylan Fox, Founder & CEO, AssemblyAI builds APIs for speech-to-text for voice data, speaker detection, sentiment analysis, chapter detection, and PII redaction. The company is now regularly serving over 25M inference calls, and processing over 10TB of voice data, every day through its API for customers that include startups like Fireflies.ai, Veed, TypeForm, Close, Loop Media, and CallRail. The company’s solutions are used by organizations across virtually every industry to embed Speech AI capabilities into their products, systems, and workflows.