AI-powered transcription platform Verbit announced today it closed a $31 million Series B funding round.

The funding round’s leading investor was growth equity firm Stripes, whose partner Saagar Kulkarni will join Verbit’s board of directors. Other investors included Viola Ventures, Vertex Ventures, HV Ventures, Oryzn Capital and ClalTech, which all took part in Verbit’s February 2019 $23 million Series A funding round.

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