Having secured $250,000 in the early stages of its RockThePost equity crowdfunding campaign, SpeechTrans aims to raise up to $750,000 more to develop and market its lauded advanced Speech to Speech (S2S) Language Translation software.
Partnering with HP, Microsoft and Intel, according to their RockThePost campaign, SpeechTrans considers its live real time language translation proprietary product as a “breakthrough in Cloud-based communications, ideal for being distributed in smart phone environments, PC (laptops, desktop or tablet) and over-the-phone via [its] automated translation service. SpeechTrans enables users to have a conversation with someone who speaks a foreign language without the need for an interpreter.” By creating an immediate understanding, investors may note SpeechTrans’ applicability in urgent health care situations or other emergency situations when translators are either unavailable or untrustworthy.
Led by Co-Founders CEO John Frei and COO Yan Auerbach, the New Jersey-based company has enjoyed key placement and plentiful encomiums which have helped SpeechTrans quickly gain traction with consumers, businesses and strategic partners in the Speech to Speech Language translation market and Health Care industry. For example, SpeechTrans has been featured by Apple on iTunes in 48 countries, has been a Microsoft Managed Partner since June 2012 and its API has been embedded in each of the HP Laptops, Desktops, Tablets that are shipped as part of the HP MyRoom video conferencing solution.
As indicated on its campaign, “SpeechTrans was the first to launch a multi-lingual bi-directional speech to speech language translation application (5 months before Google Translate). SpeechTrans launched its over-the-phone translation service InterprePhone in January 2012 at the Consumer Electronics Show (6 months before Lexifone and 10 months before NTT DoCoMo). SpeechTrans has been featured on Fox, NBC, USA Today, Wired and more and has won several awards such as Venture Associates of NJ – Elevator Pitch Olymics, NJ Technology Council’s ‘People Choice’ and ‘Company Most Likely to Succeed,’ Ernst and Young’s ‘Entrepreneur of the Year Award’ and Entrepreneur Organization’s ‘Entrepreneurial Excellence Award.’”
Offering a host of consumer products and business products, SpeechTrans highlights its partners on the company website. Latest news and updates are posted on their website, including Microsoft’s recent discontinued support for Windows XP; SpeechWeb is now available to SpeechTrans customers. In addition, the RockThePost campaign reveals that SpeechTrans holds trademarks for both SpeechTrans and Surfi (Natural Language Understanding), as well as patent application for its System and Method for translation, the company’s self learning algorithm and over-the-phone call flow.
Also cited on the campaign, SpeechTrans plans “to invest the $1 Million to accelerate growth in accordance with the guidelines established by Executive Management in accordance with the Cash Flow Projections for 2014. [Breakdown of funding includes] $150K to be invested in continued Software Development, $350K to be invested in marketing activities on both consumer and B2B/Enterprise customer acquisition, $400K to be invested in rounding out the Executive Team by hiring of VP of Sales and Business Development Managers and $100 K to be reserved as working capital.”
Full access to SpeechTrans Inc’s campaign information is available to all interested investors, as the company opted into a 506(c) Regulation D private offering, which permits it to generally solicit (publicly advertise) its fundraising efforts. A minimum of $10,000 is required for investment.
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