The New York Times Company has invested in London-based speech-to-text transcription platform Trint, as per reports.
The funding from this Series A Acceleration Round includes additional investment from existing and new individual private investors, including institutional investment from The Associated Press and TechNexus in 2019.
The U.K. transcription software tool also received early funding from The Knight Foundation.
The funding by the Times will be used to build out its platform’s features and increase hiring, which has already grown by 50% in 2020.
“Trint has already struck a chord with thousands of users looking to work seamlessly across audio, video and text,” Matthew Lloyd-Thomas, senior manager of M&A and Investment at The New York Times Company, said. “Audio and video are increasingly important mediums, and we’re excited to see Trint play a leading role in this evolving ecosystem.”
Other clients of the company include Nike, The Associated Press, Airbnb, CNN, and Spotify.
“It’s both humbling and exciting to have the most respected name in journalism join us. As a software tool for storytellers there couldn’t be a better match,” added Jeff Kofman, CEO and founder of Trint.
Kofman, an Emmy-winning war correspondent, created Trint based on his 30-year reporting career with ABC, CBS and CBC News.
In a separate enterprise agreement, Trint will also be deploying to journalists across The New York Times.