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Audio transcription technology startup 3Play Media has landed $450,000 in angel funding, according to one of the investors.
The Somerville-based company took in the round from eight investors, according to the lead investor, Tole Khesin. Khesin is a member of Boston-based angel firm Launchpad Venture Group, though he said he made the investment independently of Launchpad. Khesin has also taken the position of director of marketing at 3Play.
3Play plans to use the funding for business development, and to complete the development of its technology, Khesin said. “It’s almost there,” he said.
3Play has five employees and is looking to hire a developer and a quality assurance manager, Khesin said.
The startup’s software parses audio to produce a text transcript. Automatically generated transcripts always contain some errors, so 3Play employs about 10 to 20 contract editors to clean up the text. The company’s software also makes an interactive transcript, allowing a user to click on a word to cue a video to play the clip where that text is spoken, or to search a video for specific words.
3Play was founded in 2007 by Josh Miller, Chris Johnson, Chris Antunes and Jeremy Barron, all recent graduates of MIT Sloan School of Management.
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