Applications Technology (AppTek), LLC, a leader in automatic speech recognition (ASR), announced today that Novus Capital Group has entered into a venture debt financing with the company. AppTek will use the financing to extend its sales and marketing efforts and expand its market reach.
'Speech technology is a very dynamic space right now. AppTek's track record of success combined with its focus on specific industries makes it a valuable addition to our portfolio,' said John Saefke, CEO of Novus Capital Group. 'As a high-growth SaaS company, AppTek fits perfectly with Novus's mission of fueling emerging technology companies. We are confident that AppTek will thrive as an innovation hub for ASR.'
AppTek is an independent speech technology company focusing on speech recognition software solutions in more than 14 languages and across diverse vertical markets including media and telephony. Historically, the linguistic component of audio, video and text data has been processed manually or not processed at all. AppTek solutions unlock the value of audio and video assets; enabling commercial and government customers to both generate new revenue and create efficiencies through automatic processing and data analytics insights.
'AppTek is pleased to have Novus contribute to our growing organization,' commented Adam Sutherland, CEO of AppTek. 'We are experiencing an increased awareness of the importance of speech technology from global market movers in commerce and business. This infusion of capital will allow us to expand our outreach, capture new market share and further establish AppTek as the leader in ASR technology innovation.'
About AppTek:
Applications Technology (AppTek) is a U.S. company specializing in human language technology, headquartered in McLean, Virginia. AppTek's automatic speech recognition (ASR) solutions allow for multiple applications, such as web/mobile search, e-commerce, media monitoring, closed captioning and subtitling. AppTek integrates speech and text processing for voice analytics with visualization. For more information on AppTek, visit us at http://www.apptek.com
About Novus Capital Group:
Novus Capital Group offers customized, creative financial solutions for emerging growth technology companies seeking to preserve equity and maximize their current cash positions during periods of growth. Novus's team of seasoned financial professionals partner with fast-growing companies to create specialized debt solutions that allow them to attain their goals and attract potential equity sponsors. Through flexibility, creativity, and ingenuity, Novus works quickly and with precision to help emerging growth technology companies achieve long-term success.