Speechmatics caps major growth with US expansion
Speech recognition tech firm Speechmatics has opened its first US office in Denver, Colorado.
The move, to capitalise on US export growth, marks the Cambridge company’s third overseas office opening in three months, following its recent expansion into the Czech Republic and India, and caps a year which has seen the machine learning company double its revenue and workforce.
Its sales to the US already account for 43% of its revenues, and it supplies blue-chip US companies from Adobe to Vonage.
The UK Government, Deloitte UK, and what3words also use the firm’s technology in scenarios such as contact centers, CRM, consumer electronics, security, media & entertainment and software.
Pieter Knight, Strategic Sales and Business Development at Speechmatics, who is heading the US sales operation, said: “When you see how Speechmatics is already enabling many US businesses to rapidly build innovative applications, how much growth we have experienced in just the last year and how our technology is evolving, we are already very disruptive in the market.
“A physical presence in America is the obvious next step for the growth of our US business.”
John Milliken, CEO of Speechmatics, added: “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.”
Speechmatics' recent US expansion was supported by the Department of International Trade (DIT) as part of a Government drive to boost British tech exports to markets such as the US.
International Trade Secretary, Liz Truss, said: “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.
“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.”