Speechmatics Expands into U.S. Market

Speechmatics, a speech recognition technology provider based in Cambridge, England,, has opened its first U.S. office in Denver, following its recent expansion into the Czech Republic and India.

Sales to the United States already account for 43 percent of Speechmatics' revenue.

"When you see how Speechmatics is already enabling many U.S. 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 U.S. business," said Pieter Knight, head of strategic sales and business development at Speechmatics and head of the U.S. sales operation, in a statement.

"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, in a statement. "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."

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