SpeechTrans surpassed its initial goal, raising over $585K on its RockThePost equity crowdfunding campaign; funding will 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.
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.
To recap: 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 $100K to be reserved as working capital.”
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