Trint receives growth funding package
Trint has secured a growth funding package from Virgin Money’s Venture Debt team. This investment will further accelerate Trint's growth and help enhance its technology, solidifying its position as one of the leaders in the media and broadcasting industry.
Founded in 2014 by Jeff Kofman, an Emmy-winning journalist and war correspondent, Trint has transformed the way journalists and other media professionals collaborate, create content, and transcribe interviews and videos. The platform's advanced AI-powered transcription technology allows users to effortlessly convert live or pre-recorded audio and video files into accurate, searchable, and editable text in more than 50 languages. Their customers include global brands including the BBC, the Washington Post, the Associated Press, Thomas Reuters, the Financial Times, and PBS Newshour.
With a headcount of 90 employees, Trint operates primarily from its London headquarters in Shoreditch, with a North American sales office in Toronto, Canada. The company has raised around £16 million in equity to date, with significant investments from the New York Times and Edge VC.
The new funding package, supported by Virgin Money’s Venture Debt team, will help Trint to continue to innovate and grow internationally. The company will use the funds to invest in enhancements to its disruptive existing technology solutions, while also targeting further growth in both their self-serve and enterprise offerings across the world.
“We are really pleased to have Virgin Money on our team,” said Kofman, “their confidence in us gives Trint the runway to reach our next milestones and continue to innovate a product that is unrivalled in the marketplace.”
Andrew Stirrat, Senior Director of Venture Debt at Virgin Money, said: “Our goal at Virgin Money is to ensure businesses have access to the specialist support they need and over the past decade, our Venture Debt team have successfully collaborated with around 100 high-growth, IP-rich, and venture-backed businesses.
We are delighted to be supporting Trint, recognising the immense value and innovation they bring to their industry. The engagement and enthusiasm to drive forward the business was obvious in our dealings with every member of the team, and we look forward to continuing working together as Trint progress with their exciting plans.”
