In a world with a vast ocean of podcasts and videos to transcribe, Rev uses AI to find its market. An AI-powered, but human-assisted, transcription provider, the company also sells access to developers, so tech-savvy folks can use its speech recognition technology. But the key part here is the combination of humans with AI, which is a sweet spot in the effective use cases for artificial intelligence. With a growing need for accessibility features in audiovisual production especially, expect more AI competitors to take advantage of a similar business model in the future.
The company provides an online technology platform that connects business owners with freelance workers for document transcription and translation. It was founded in 2010 by Dan Kokotov, David Abrameto, Jason Chicola, Josh Breinlinger, Mark Chen, and Paul Huck. Rev.com has raised $30.4 million in funding so far from investors such as Bessemer Venture Partners and Austin Ligon. However, it has not announced any plans to go public.