Halifax-based Talkatoo has closed a round of funding led by Toronto’s Klick Ventures, which has been the voice-transcription startup’s mentor going through the Google for Startups Accelerator: Voice AI.
The parties did not release the size of the round.
Talkatoo, which last summer raised $700,000 in equity funding in a round led by Concrete Ventures, has developed a Software-as-a-Service voice-recognition product that helps veterinary professionals dictate notes that are immediately transcribed. It uses artificial intelligence to ensure that complicated medical terms are identified and accurately transcribed.
In February, it was one of four Canadian companies selected into the first cohort of Google’s Voice AI accelerator, and Klick was chosen as its mentor. Google for Startups said in a statement that this resulted in a “rare instance” of a mentor in one of its programs investing in its mentee startup.
“We love Talkatoo’s innovative approach to solving an important unmet need in the animal health space,” said Klick CO-Founder, Chairman and CEO Leerom Segal in the statement. “We are very excited about Talkatoo’s future and the competitive advantage they offer as professional organizations increasingly adopt voice technology for added convenience and productivity at work.”
Halifax-based Concrete Ventures was a return investor in the round, which drew investment from several investors in the U.S. and Canada: Blu Ventures, Manifold Group, Globalive Capital, and angel investor Dr. Ivan Zak, CEO at Galaxy Vets.
The statement said the round was over-subscribed, and the capital will be used to further fuel Talkatoo’s “explosive double-digit growth”. In June, Talkatoo won a major pitch competition hosted by the North American Veterinary Community industry group.
“Talkatoo is quickly becoming known among veterinary professionals as the dictation tool of choice as it lets them allocate more time to patient care,” said company CEO Shawn Wilkie. “Not only does our software instantly transcribe notes on all applications, but it leverages both artificial intelligence and our proprietary, built-in medical dictionary to help ensure that complicated medical terms are identified and accurately transcribed in clinical reports, records, and other important communications.”