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VerbalizeIt Launches with $1.5M

2012-11-13
NEW YORK, NY, Company that delivers real-time access to human translators, today announced it raised $1.5 million in private equity funding.
VerbalizeIt, Inc., the company that delivers real-time access to human translators, today announced it raised $1.5 million in private equity funding in October from a consortium of angel investors.

VerbalizeIt recently emerged from the summer 2012 TechStars Boulder program. The company's crowdsourced community of human translators facilitates cross-language conversations across the globe. VerbalizeIt enables businesses and consumers to access its crowdsourced translator community by phone, Skype, web browser and API-powered connections.

"VerbalizeIt was created to remove the world of language barriers," said Ryan Frankel, VerbalizeIt CEO. "For small- and medium-sized businesses VerbalizeIt enables seamless connections for commerce with global customers, suppliers and partners. And for leisure travelers, VerbalizeIt adds a layer of confidence when encountering those daunting language disconnects."

According to the Common Sense Advisory's, "Language Services Market: 2012," the global market for outsourced language services and technology will exceed $33.5 billion in 2012 and is growing at an annual rate of more than 12 percent. Finding accurate and affordable solutions is something even the largest of companies, such as Microsoft, have been focused on for years. Just last week Microsoft's Chief Research Officer Rick Rashid made news with the company's new advancements in the space.

"There's a tremendous need for reliable, high-quality translation at an accessible price-point for both businesses doing operating globally and individuals traveling abroad," said Frankel. "Machine translation is cheap but notoriously unreliable-even the most advanced software is admittedly missing about one in seven words and has trouble with grammar and nuance. Until now the only other reliable option has been a large call-center solution that is utilized almost exclusively by large global businesses. It's spot-on, but out of reach for the majority of us."

At launch, VerbalizeIt provides multidirectional translation between English and Mandarin Chinese, Portuguese, French, German, Spanish and Hindi. The company also provides non-live translation solutions, including document transcription, audio and video translation and subtitling.

About VerbalizeIt
VerbalizeIt delivers real-time access to human translators to make sure that nothing is ever lost in translation. We empower businesses and travelers with the ability to instantly connect with a live translator any time of day, anywhere in the world and from any device or application. VerbalizeIt is the first service that delivers the quality of human translation but at a price-point that is affordable and accessible to everyone. Visit VerbalizeIt at http://www.verbalizeit.com.
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