Speechmatics opens third international office to address U.S. speech recognition market
Speechmatics has opened an office in Denver, Colorado, the third international office space the UK-based automated speech recognition software provider has opened in just three months, following Chennai, India and Brno, Czech Republic, the company announced.
By opening its first office in the U.S., Speechmatics wants to leverage the country’s export growth opportunities and deliver speech recognition technology to a higher number of businesses in the region. The company reports doubling its revenue and workforce in the past year, which, it claims, confirms the high international demand for British proficiency in machine learning technology.
“Our growth in the past year is evidence of the burgeoning demand for technology that allows organizations to innovate with voice data,” said John Milliken, CEO of Speechmatics. “Market drivers include legislation requiring broadcasters to make video more accessible and to analyze and derive insight from voice data in contact centers. The speech recognition market is set to be worth $21.5 billion by 2024 and Speechmatics is ideally positioned to compete for a large slice of this exciting industry.”
U.S. sales represent some 43 percent of the company’s total revenue, as it delivers solutions to clients such as Adobe and Vonage. The Denver office will enable the company to move into other markets such as broadcast media, contact centers, government, defense and intelligence.
Speechmatics boasts that it processes millions of hours of live or recorded media per month. Its machine learning technology leverages speech recognition technology to detect difference in intention, dialect or nuance.
The U.S. sales operation is led by Pieter Knight, Strategic Sales and Business Development.
The UK’s Department of International Trade (DIT) backed up the company’s U.S. growth to encourage the export of British technology to a new market.
“It’s great seeing innovative UK brands like Speechmatics taking advantage of the golden trading opportunities across the Atlantic, giving Americans access to the best British products,” said International Trade Secretary, Liz Truss. “Exporters, importers and consumers across the United States and the East of England have everything to gain from striking free trade agreements around the world with countries like the United States.”
Last month, what3words entered a partnership with Speechmatics for users to enter their what3words address by voice in their own language.