SAP.iO Fund Invests in Deepgram for Gleaning New Insights from Speech

SAP.iO Fund, the startup investment arm of SAP SE (NYSE: SAP), has taken a stake in in Deepgram, provider of a high-accuracy automatic speech recognition solution that can be easily trained to understand new language models, accents and speech patterns.

With a new approach to speech recognition, Deepgram’s flexible API architecture enables real-time transcription for customer support, sales engagement and video/phone interviews and makes them searchable. Wing Ventures led the Series A round, which included existing investors Nvidia, Y Combinator and Compound.

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Deepgram Raises $12m in Series A funding

Deepgram, a San Francisco, CA-based speech recognition platform for the enterprise, raised $12m in Series A funding. The company, which has raised $13.9m to date, intends to use the funds to expand operations and its business reach. Founded in 2015 by Scott Stephenson, CEO, Deepgram uses end-to-end deep learning technology built with GPUs to provide companies and individuals with automatic speech recognition (ASR) that is powered by advanced, multi-layered machine learning technology. Its current product, Deepgram Brain provides transcription and audio search capabilities for individuals and enterprises. Since going to market, Deepgram has amassed more than 30 customers across the call center, retail and tech industries.

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Enterprise Speech Recognition Startup Deepgram Raises $12M

Speech recognition technology startup Deepgram has closed a $12 million Series A funding round led by Wing VC along with NVIDIA, Y Combinator, and other investors. The funding comes as the company debuts new features for its enterprise-focused automatic speech transcription and analysis platform.

Deeper Learning

Businesses are growing to rely on artificial intelligence to record, transcribe, and analyze phone calls, meetings, and other audio. The speed and low cost of using AI can make up for the errors and sometimes imprecise analysis that results. Deepgram claims its approach can outperform the industry standard without sacrificing the speed and cost benefits.

“The old way of doing speech recognition is not going to be the same as future versions,” Deepgram CEO Scott Stephenson told Voicebot in an interview. “The heuristics model of speech recognition has too many flaws; it’s why I wanted to start Deepgram. When we began, we decided to start from scratch with end-to-end deep learning.”The AI now can learn their jargon, learn the background noises at their meetings, and learn their natural cadence of speaking.”

Almost five years after its founding, Deepgram’s platform now offers multiple price points depending on just how precise the client wants the transcription and analysis to be. Stephenson explained that because Deepgram is built on deep learning rather than heuristics, adjusting precision is relatively straightforward, and the standard version platform can outperform most other options.

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Deepgram raises $12 million to train custom speech recognition models for businesses

Deepgram, a Y Combinator graduate building tailored speech recognition models, today announced it has raised $12 million in series A financing. CEO and cofounder Scott Stephenson says the proceeds will bolster the development of Deepgram’s platform, which helps enterprises to process meeting, call, and presentation recordings. If all goes according to plan — if Deepgram’s scale eventually matches that of the competition — it could save organizations valuable time by spotlighting key results.

Deepgram leverages a backend speech stack that eschews hand-engineered pipelines for heuristics, stats-based, and fully end-to-end AI processing, with hybrid models trained on PCs equipped with powerful graphics processing units. Each custom model is trained from the ground up and can ingest files in formats ranging from phone calls and podcasts to recorded meetings and videos. Deepgram processes the speech, which is stored in what’s called a “deep representation index” that groups sounds by phonetics as opposed to words. Customers can search for words by the way they sound and, even if they’re misspelled, Deepgram can find them.

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Deepgram Blog: We raised $12 million to solve speech recognition in the enterprise

The excitement around speech recognition is real: it has the potential to power the next wave of modern applications and give businesses and vendors a competitive advantage. But, with excitement comes misaligned expectations. Speech recognition is a messy, tough and persistent problem for enterprises, one that has languished under existing technology providers for decades. At Deepgram we have been working to change that by rebuilding speech recognition from the ground up. Today, we celebrate a key milestone on our path with a $12 million Series A round led by Wing VC, with participation from NVIDIA, Y Combinator, Compound and SAP.iO.

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ClearMetal Launches Next-Generation CDX Platform 2.0

ClearMetal, a leader in Continuous Delivery Experience (CDX) for Supply Chain and Logistics solutions, announced today the launch of its transformational CDX Platform 2.0. This next-generation Software-as-a-Service (SaaS) platform transforms supply chain delivery and experience using patent-pending data science and machine learning. This launch adds a number of new collaboration and planning capabilities across multiple transportation modes beyond ‘ocean freight’– all which drive ROI and Amazon-like customer-centricity for the world’s largest supplier, manufacturer and retailer supply chains.

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SAP.iO Hosts Investing x Women with Stanford Women’s Network of New York

On Thursday, February 27, Joanna Maryewska, Principal at SAP.iO Fund hosted an event with Stanford Women’s Network of New York launching an initiative “Investing x Women” at SAP.iO Foundry New York.

After an introduction to SAP.iO Foundries’ mission, the event kicked off with a discussion on diversity on startup boards and why it increasingly matters to founders. Joanna was joined by Alexa von Tobel (Founder and Managing Partner at Inspired Capital), Rebecca Kaden (Managing Partner at Union Square Ventures), Jemma Wolfe (Head of Launch with GS). As only ~2% of VC funding went to female-only founding teams and ~10% to mixed gender teams, the discussion involved discussing ways to approach challenges and common biases – at the industry, organizational and individual level. As research points out – the best way to drive change is by addressing the structural and process-based factors. Therefore the discussion focused on actions to increase the number of women in VC with the goal of bringing more role models, and harnessing the power of professional networks.

Investor panel was followed by a conversation led by Alison Wyatt (Co-Founder and CEO of Female Founder Collective – network built by Ali and Rebecca Minkoff). Three members of FFC joined the discussion on Women collaboration networks: True value beyond the buzz. The guests (Gina Hadley – The Second Shift, Jennifer Justice – The Justice Department, Tina Wells – Buzz Marketing Group) shared their advice on how to make the most out of the professional networks, and how FFC has been supporting them in their entrepreneurial endeavors.  

We also received flowers from Repeat Roses – a zero-waste company disrupting single-use-straight-to-landfill floral business. Its signature service transforms event flowers into bouquets that brighten hospitals, nursing homes, and shelters—then composts the blooms to keep waste out of landfills and ensure a closed loop solution. To date, they have donated over 53,000 arrangements on behalf of their corporate and wedding clients, and have diverted over 198,000 pounds of waste from winding up in North America’s landfills – and their customers receive data on environmental impact as well. 

The event concluded with Joanna and other board members of Stanford Women’s Network inviting the attendees to continue being involved throughout the next events and small group dinners planned as part of the Investing x Women initiative. 

SAP.iO Fund Invests in Hasura, Provider of GraphQL Access to Data Sources

People mingling in conversation

AP.iO Fund, has invested in Hasura, a San Francisco and Bangalore-based company that provides data access and data flow tools and services via GraphQL APIs.

SAP will work with Hasura to enable support for SAP HANA as well as offer native GraphQL capabilities to the SAP Cloud Platform Integration Suite. The Series A round was led by Vertex Ventures and includes existing investors Nexus Venture Partners and Strive VC, among others.

Hasura’s event engine makes it easy to integrate cloud-native/serverless business logic to the GraphQL API. Hasura automatically generates real-time GraphQL APIs using declarative metadata configuration and authorization policies for consumers. Organizations can use GraphQL in production and mission-critical applications alongside existing and modern cloud-native infrastructures without the significant cost of building and maintaining a GraphQL server.

“SAP has a strong community of partners and customers building applications on SAP Cloud Platform,” said Ram Jambunathan, senior vice president at SAP and managing director of SAP.iO. “Together with Hasura, SAP can extend and support data access for GraphQL, helping our customers expand their SAP solution capabilities as part of their intelligent enterprise transformation.”

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Hasura announces new funding for product and data delivery with GraphQL

Hasura has raised $9.9 million in a Series A round of funding. According to the company, the money will go to accelerating product and data delivery using GraphQL. Hsaura provides solutions that automatically creates real-time GraphQL APIs, giving users instant access to data. 

The round of funding was led by Vertex Ventures US with participation from SAP.iO Fund, Nexus Venture Partners and Strive VC.

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Hasura raises $9.9M Series A to simplify GraphQL for developers

Hasura, a startup working to solve developer problems around connecting to databases when using the open-source GraphQL tool, announced a $9.9 million Series A investment today.

Vertex Ventures US led the round, with participation from SAP.iO Fund and existing investors Nexus Venture Partners and Strive VC. A number of angel investors also participated in the round. The company has raised a total of approximately $11.5 million.

GraphQL is an open-source tool originally developed at Facebook in 2012 and open-sourced a few years later. Hasura CEO and co-founder Tanmai Gopal says the company had been working on helping developers to simplify Kubernetes, but over time, it realized that data access was a bigger problem, so it developed an open-source tool that works with GraphQL to help solve that issue.

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Hasura Announces $9.9M in Series A Funding to Accelerate Product & Data Delivery Using GraphQL

Hasura, the San Francisco and Bangalore-based company providing data access and data flow tools and services via GraphQL APIs announced today that it has raised $9.9 million in Series A funding led by Vertex Ventures US. The round also saw participation from SAP.iO Fund, the early-stage venture arm of SAP, existing investors Nexus Venture Partners and Strive VC. Several angels also participated, including James Tamplin (founder of Firebase), Sam Lambert (VP of Infrastructure Engineering at GitHub), Amod Malvia (co-founder of Udaan, ex CTO Flipkart), and Michael Stoppelman (ex-SVP of Engineering at Yelp).

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ClearMetal: $31 Million, 400% Revenue Growth, Workforce Doubles

People mingling in conversation

ClearMetal, a leader in Continuous Delivery Experience (CDX) for Supply Chain and Logistics solutions, announced recently that it raised $15 million in funding led by Eclipse Ventures. Including this round of funding, ClearMetal has raised more than $31 million. Prelude Ventures, Innovation Endeavors, NEA, SAP.io, Prologis, PSA Unboxed, DCLI, and the founders of GT Nexus, Navis, and Uber Freight also joined the round.

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ClearMetal Announces $31 Million in Total Funding, 400 Percent Revenue Growth and Doubled Workforce

ClearMetal, a leader in Continuos Delivery Experience (CDX) for Supply Chain and Logistics solutions, announced today it has received an additional $15 million in funding in a round led by Palo Alto-based Eclipse Ventures, making the total capital invested in the company to date more than $31 million. The funding enables the further development of ClearMetal’s CDX Platform, which continually learns, adjusts and gets smarter to drive constant improvement in delivery and experience for customers. Additional investors include Prelude Ventures, Innovation Endeavors, NEA, SAP.io, Prologis, PSA Unboxed, DCLI, and the founders of GT Nexus, Navis, and Uber Freight.

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