AI Transcription Company Verbit Closes $31M Series B Round | LawSites

Verbit, the Tel Aviv-based, AI-powered transcription platform, today said it has closed a $31 million Series B funding round led by Stripes, a leading New York-based growth equity firm.

Following an $11 million seed round in March 2018 and a $23 million Series A round in January 2019, this brings the total investment in the company to $65 million.

Several existing investors participated in this latest round, including Viola Ventures, Vertex Ventures, HV Ventures, Oryzn Capital and ClalTech.

In an interview yesterday, Tom Livne, CEO and founder, told me that the company will use this latest investment to further accelerate its growth, including expanding into new industry verticals, adding coverage of new languages, and continuing to develop its speech recognition technology.

That will include significant expansion in the United States. Last year, the company opened an office in New York City, and it plans to triple its U.S. headcount by the end of the year. In fact, Livne, who spends about half his time there already, said there is a high probability he will soon move to New York as his home base.

“We are very excited and thankful for the belief in us from our existing investors and our new investors,” Livne said. “The opportunity is so big and we are well positioned to lead this transformation.”

Founded in December 2016, the company has 100 employees and a network of 15,000 freelancers.

It’s product transforms spoken content into text. It uses AI-driven software for the initial transcription and then an on-demand network of 15,000 human translators to improve accuracy. In this way, Verbit delivers transcriptions that are better than 99% accurate, it says.

Although it is exploring other verticals, it currently focuses on two – academic transcriptions and legal transcriptions.

In the legal vertical, there is a $4 billion market for transcription services, Livne said. Verbit’s customers are court reporting agencies.

Verbit is unique in this market, he said, because it offers templates to ensure compliance with the transcription guidelines of each U.S. jurisdiction. The company is also making it highly customizable.

“We are thrilled to partner with Tom and the rest of the Verbit team on their mission to build the leading AI-powered transcription and captioning platform,” said Stripes’ partner Saagar Kulkarni, who will join Verbit’s board of directors. “We are big believers in the power of AI to fundamentally change business models and provide critical services better, faster, and more affordably.”

As for Livne, he believes the need for transcription is growing and he expects to see his company reach revenue of $100 million within four years.

“When I established Verbit three years ago, I didn’t anticipate we would become one of the market-leading companies in our industry so quickly,” he said. “This latest financing round is an important milestone in Verbit’s journey and strengthens the incredible momentum we had in 2019.”

Want To Lead A Law School? You Better Be Pumped During The Interview

It was amazing at the way dean candidates would shoot themselves in the foot during the interview process. The main problem was ambivalence. People want to be inspired.

—Melanie Leslie, dean of the Benjamin N. Cardozo School of Law, explaining one of the biggest reasons for failed law school dean candidates. She goes on to note, that with steadying law school enrollment jobs are increasingly competitive, but that doesn’t mean you shouldn’t throw your hat in the ring. The secret is no one really knows how to be dean until they’re doing the job, but, “Don’t take yourself out of the running because you’re smart enough to know you don’t know how to run anything,” Leslie said.

Findings from the 12th Annual Law Department Operations Survey

Legal teams are strongly committed to changing how law works and, where there is disagreement among legal operations professionals, it is usually about the degree of change,” notes Heidi Rudolph, managing director of Morae Global, in the 12th Annual Blickstein Group Law Department Operations Survey: Continuing to Mature While Bracing for Uncertainty.

Join us on January 22 at 1pm ET for a free webinar exploring the findings from the longest-running and most influential annual research concerning legal operations.  The 2019 LDO Survey reveals a profession–and an entire legal industry– experiencing increasing operational success while confronting a variety of challenges for law department transformation.

Our expert panelists will explore how law departments are currently leveraging legal operations, including insights on:

  • Artificial Intelligence
  • Technology Effectiveness
  • Legal Project Management
  • and much more!

(This is part two of a two-part series exploring the findings of the 12th Annual Law Department Operation Survey. Part 1 can be found here.)

 

Goldman Spending Heavily On Regulatory Fines, Becoming A Different Bank Entirely

New Year, New Look For This Biglaw Firm

Who doesn’t love a shiny new makeover? The Biglaw firm formerly known as Wiley Rein has decided to go bold in the new decade, shortening their name (at least in marketing materials) to Wiley and using the .law exchange (a move they believe to be a first for an Am Law 200 firm).

Wiley.law is also shaking up their look. Gone from their homepage is the staid green and white palette in favor of a bold red and purple look:

As managing partner Peter Shields told Law.com, the new look was designed to turn heads:

“We decided as a partnership that the timing was right,” managing partner Peter Shields said in an interview. “We have a focus on some new practices and thought it was time for our brand to reflect that.”

….

The colors, according to Shields, were recommended by Dharma Pachner, chief creative officer at consulting firm Contrast and Co. “He said the overall look and vibrancy reflected what he heard from the stakeholders. We never looked back,” said Shields.

And the firm’s powers that be believe the new look matches up well with the legal services they provide their clients:

“Since our founding, clients have turned to Wiley to solve their most pressing issues and anticipate the challenges that lie ahead,” Shields said in a statement. “Our new brand represents who we are today—a firm with a focused mindset, interdisciplinary depth, a celebration of diversity, and a culture of collegiality.”

Best of luck with the new look.


headshotKathryn Rubino is a Senior Editor at Above the Law, and host of The Jabot podcast. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).

Justice Boomer Gets Laughs As He Guts Federal Employee Discrimination Statute

(Photo by Chip Somodevilla/Getty Images)

Pity the poor Boomers! With a paltry 57 percent of the country’s wealth to their name, those sprightly 55- to 73-year-olds just can’t catch a break. Yesterday Chief Justice John Roberts invoked their grievous plight during oral argument in Babb v. Wilkie, an age discrimination case filed against the Department of Veterans Affairs.

Let’s say in the course of the, you know, weeks’ long process, you know, one comment about age, you know, the hiring person is younger, says, you know, “OK Boomer,” you know, once to the applicant.

The transcript records laughter in the courtroom. Or, as SCOTUS blog put it, “A dozen or so high school students in the second and third rows of the public gallery perk up and nudge each other over this au courant phrase.” (The joke writes itself.)

But as hilarious as it is when, you know, the Justices try to meme from the bench, the fact remains that the conservatives are aggressively trying to strip employment discrimination protections from federal workers.

Here, plaintiff Noris Babb is a is VA pharmacist who sued because she was denied advancement opportunities that were given to younger colleagues. In the private sector, under Gross v. FBL Financial Services, an employee must establish but-for causation to recover.

Babb argues that the wording of the Age Discrimination Employment Act’s provisions covering federal workers is slightly different, and thus the employee can recover for generalized policies which favor younger employees, without establishing a but-for linkage. Or, as her attorney Roman Martinez put it:

The government, in this case, apparently believes it’s perfectly lawful for , federal agencies to apply younger-is-better or whiter-is-better hiring policies to individuals who can’t prove that they would have been hired but for those policies.

Which is apparently fine by Justice Gorsuch, whose main concern is that allowing a more permissive federal standard will force public sector employers to get rid of generalized preferences that don’t rise to the level of but-for discrimination. And then where will we be!

The Solicitor General suggests that if we were to adopt your view, we’d have to do the same thing with respect to private discrimination under, what is it, the 623. Which, of course, we can’t do because of Gross, and point specifically to the language saying, you know, you can’t discriminate in hiring or otherwise, right, discriminate with respect to terms and conditions of employment. And if we were to adopt your broad reading here of “discriminate,” why wouldn’t we do the same thing there?

So we actually care about precedent when the issue is curtailing the rights of federal workers to combat age discrimination. Got it. Let’s see if that holds up in seven weeks when Justices Kavanaugh and Gorsuch get the opportunity to shut down the last abortion provider in Louisiana in June Medical Services, LLC v. Gee.

OK, … ah, you know.


Elizabeth Dye lives in Baltimore where she writes about law and politics.

Trump Judge Tries To Put Reasonable Spin On ‘I Don’t Like Trans People,’ Fails

When a pro se federal prisoner’s name change motion reached the Fifth Circuit, the appellant made the additional request that the court employ feminine pronouns. At this point, the court could — without much trouble — just use feminine pronouns. Instead, Judge Stuart Kyle Duncan, a hack attorney who now sits on the Fifth Circuit because he was on the Hobby Lobby case, devoted nearly six pages to explain why adding an “s” to any pronouns in the opinion wasn’t just his bigoted trolling but rather an impossible burden threatening to grind the judicial system to a halt!

First, no authority supports the proposition that we may require litigants, judges, court personnel, or anyone else to refer to gender-dysphoric litigants with pronouns matching their subjective gender identity. Federal courts sometimes choose to refer to gender-dysphoric parties by their preferred pronouns.

To Judge Duncan’s partial credit, at this point he includes a footnote explaining that “sometimes” translates to EVERY OTHER CIRCUIT EXCEPT THE ELEVENTH (the footnote also misses the 10th, but the dissent adds them). Judge Duncan even recognizes that his own FIFTH CIRCUIT has respected litigant pronouns in the past. Undeterred by the overwhelming persuasive precedent, Judge Duncan continues wasting government ink on trying to put an academic spin on just being an asshole.

Varner’s motion in this case is particularly unfounded. While conceding that “biological[ly]” he is male, Varner argues female pronouns are nonetheless required to prevent “discriminat[ion]” based on his female “gender identity.” But Varner identifies no federal statute or rule requiring courts or other parties to judicial proceedings to use pronouns according to a litigant’s gender identity. Congress knows precisely how to legislate with respect to gender identity discrimination, because it has done so in specific statutes. See Wittmer v. Phillips 66 Co., 915 F.3d 328, 338 (5th Cir. 2019) (Ho, J., concurring) (citing Hively v. Ivy Tech Comm. Coll. of Indiana, 853 F.3d 339, 363–64 (7th Cir. 2017) (Sykes, J., dissenting)) (observing that “both Congress and various state legislatures have expressly prohibited . . . gender identity discrimination by using the term[ ] . . . ‘gender identity’ discrimination”)

Except the prisoner isn’t trying to assert a cause of action here — all she wants is the court to use the proper pronouns. As 84-year-old Judge Dennis notes in dissent, basic English skills make it clear that this is just a request that “this court, in this proceeding” (emphasis in original) employ feminine pronouns.

Judge Duncan continues:

Second, if a court were to compel the use of particular pronouns at the invitation of litigants, it could raise delicate questions about judicial impartiality

Oh?

What Judge Duncan is trying to suggest is that in the event of a case over gender identity, using someone’s preferred pronouns would convey the appearance of prejudgment. Except by that logic that’s also true of not using someone’s preferred pronouns. The fairest way to resolve this would be to respect personal preferences as a courtesy but recognize that whatever statute lies at the heart of a case may not grant the relief the litigant wants. But taking that logical step would undermine Duncan’s earlier inane argument about legislating gender discrimination so he’s just going to glide past it with all the intellectual laziness he can muster.

Third, ordering use of a litigant’s preferred pronouns may well turn out to be more complex than at first it might appear. It oversimplifies matters to say that gender dysphoric people merely prefer pronouns opposite from their birth sex—“her” instead of “his,” or “his” instead of “her.” In reality, a dysphoric person’s “[e]xperienced gender may include alternative gender identities beyond binary stereotypes.” DSM-5, at 453; see also, e.g., Dylan Vade, Expanding Gender and Expanding the Law: Toward a Social and Legal Conceptualization of Gender that Is More Inclusive of Transgender People, 11 Mich. J. Gender & L. 253, 261 (2005) (positing that gender is not binary but rather a three-dimensional “galaxy”). Given that, one university has created this widely-circulated pronoun usage guide for gender-dysphoric persons:

Shorter: “We’ve all gone to law school, but the possibility of keeping nine things in our heads is far too daunting.” In Duncan’s defense, being a conservative jurist usually doesn’t require anything more complex than taking contemporary Republican talking points and saying, “my guess is James Monroe would’ve wanted it this way.” It’s not like judges would even be guessing at the proper pronouns by consulting a list like this because the litigant would tell them straight up what to use. They would only have to cut and paste.

There’s not really a difference between this and saying, “there are a lot of names out there… how can judges keep track of someone who spells ‘Gennifer’ with a ‘G’? So this court will only use ‘Jennifer’ in all documents lest the American judicial system collapse into anarchy.” Just use what the fucking litigant asks. It’s not hard.

In fact, a test of how not hard it is, realize that over half of this opinion is wasted on trying to justify Duncan’s inability to use the “s” key.

Deploying such neologisms could hinder communication among the parties and the court. And presumably the court’s order, if disobeyed, would be enforceable through its contempt power.

That’s… not how any of this works.

John Mulaney has a joke about someone telling him that the word “midget” was “as bad as the n-word” and him explaining, “If you’re comparing the badness of two words, and you won’t even say one of them? That’s the worse word.” A good judicial corollary might be that if you need 6 pages to justify not using one letter… that’s the worse position.

(Full opinion on the next page….)


HeadshotJoe Patrice is a senior editor at Above the Law and co-host of Thinking Like A Lawyer. Feel free to email any tips, questions, or comments. Follow him on Twitter if you’re interested in law, politics, and a healthy dose of college sports news. Joe also serves as a Managing Director at RPN Executive Search.

Morning Docket: 01.16.20

* A 97 year-old trial lawyer has been allowed to stay on a murder case despite an outburst that forced a judge to release six jurors who had already been seated. [NorthJersey.com]

* New York lawmakers are mulling legislation aimed at providing lawyers to immigrants facing deportation proceedings. [New York Daily News]

* A number of colleges and universities are led by lawyers, but the jury’s out about whether this is a good thing. [Washington Post]

* Maine has posthumously pardoned a lawyer who was prosecuted for his involvement in representing a Native American tribe against the state. [Jewish Telegraphic Agency]

* A new lawsuit alleges that Jeffrey Epstein trafficked girls to the U.S. Virgin Islands up until 2018. [ABC News]

* The expression “Ok, Boomer” has finally made it to the Supreme Court. [CNN]


Jordan Rothman is a partner of The Rothman Law Firm, a full-service New York and New Jersey law firm. He is also the founder of Student Debt Diaries, a website discussing how he paid off his student loans. You can reach Jordan through email at jordan@rothmanlawyer.com.

Lessons for SA: How politics and poverty affect electricity provision in Zimbabwe – The Zimbabwean

Not this one. Focussing on Zimbabwe, it has lessons for many countries to the north.

Fascinatingly, it reveals South Africa to be doing relatively well when it comes to more equal access to electricity – and to other more basic affordable sources of power where-ever alarming Gini-coefficients exist. According to this research, there’s no panacea for electricity scarcity in Zimbabwe – structural (driven by economic and policy) factors are responsible.

Yes, build new power sources (no shortage of hydro and solar potential), but tech doesn’t address distribution concerns. The rural Zimbabwean poor take the brunt – their electrification rate is approximately 10%. Most burn wood. Coal, charcoal and liquefied petroleum gas are so expensive (unlike SA, where subsidies exist, including for electricity), and are used by less than 1% of urban households (out of reach of rural folk).

Electricity provision is skewed towards high income groups, its price having risen 320% last year. While South Africa has alarming electricity shortages, it cushions the poor against high energy costs. We did something right.

Post published in: Business

Zimbabwe’s government forced to give civil servants a cushioning allowance to avoid strike – The Zimbabwean

HARARE – Zimbabwe’s finance minister, Mthuli Ncube, who has projected a 3 percent growth for its economy in 2020, said there would be no “silver bullet solutions” to the monetary crisis in that country and has asked citizens to have confidence in the Zim dollar unit introduced last year, while pleading for more time despite a worsening economic situation.The financial sector crisis in Zimbabwe has continued without ease, and the government on Monday had to award civil servants, including teachers, a cushioning allowance to avoid strike action. Demands for salary increases have further burdened the treasury, which is already stretched, as it has to provide funds for social-protection mechanisms such as subsidies on maize meal.

“Treasury notes the government’s decision to cushion members of the Public Service Commission from the adverse economic challenges through the awarding of an interim cushioning allowance for January,” said George Guvamatanga, the secretary for the treasury.

He added that the treasury had given concurrence to the “implementation of the cushioning allowance” by awarding a minimum of ZWL400 (about R400) and a maximum of ZWL800 for the respective lowest and highest grades.

Ncube asked for more time to turn-around the financial sector, and also implored Zimbabweans to have confidence in their own currency.

“Zimbabwe is going through a transition and you cannot have silver bullet solutions. If you are going through a transition, these things (currency reforms) will take time,” Ncube said.

There has been much criticism of Zimbabwe’s re-introduction of the Zim dollar in 2019, following about 10 years of multiple currencies in operation since the ditching of the local unit after record hyper-inflation in 2009.

“What is required is for citizens to have confidence in their currency but we as the government also have an obligation to ensure that the currency is stable, and once stability is engendered over time, we will see them move away from US dollar-pricing,” said Ncube.

He added: “It will take time and we have done everything in the past few months. We have done everything we can.”

On the official interbank market, the Zim dollar was trading at 1.17 against the greenback, while on parallel markets it had surged to 1.23 to the US dollar.