Parrot AI, a transcription platform that converts speech into text, has raised $11 million in a Series A funding round. The company provides AI-powered transcription services for the legal and insurance industries. Its latest innovation can summarize depositions in seconds for legal professionals. Amplify Partners and XYZ Venture Capital led the latest funding round, which brings Parrot AI’s total raised funding to $14 million. The company was founded by a team of engineers and attorneys with expertise in AI and speech-to-text transcription. Parrot AI aims to gather and synthesize information more efficiently, leveraging AI to achieve better and faster outcomes. The company plans to use the funding to ramp up its investment in AI for the legal and insurance sectors and develop tools to address industry challenges. Parrot AI’s differentiated model is based on highly specialized models that are trained on proprietary and domain-specific data.
Parrot AI Secures $11M Series A Funding to Drive its Transcription Platform that Converts Speech to Text
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