A company called SpeechTrans, which introduced its InterprePhone translation service for landline network callers a few years back, is now bringing translation and transcription capabilities to computer, smartphone, and tablet users.
The company has recently released a new Android application, but what SpeechTrans is really excited about is the fact that its live real-time language translation capability now comes preloaded on all Intel Android tablets, and on Microsoft Windows 8.1, and is a feature of the HP MyRoom web meetings service.
“We believe that speech-to-speech translation will eventually be required for any business or any traveler to be successful,” says Yan Auerbach, co-founder and COO of SpeechTrans, adding that with important partners like HP, Intel, and Microsoft, it can deliver on that promise via preloaded solutions.
Gartner expects translation services, which is now a $34.5 billion industry, will be worth $150 billion by 2020.
There are currently 1.5 million users of InterprePhone, says Auerbach, and in the next 12 to 18 months SpeechTrans expects to increase that to 40 million users. During that same timeframe, SpeechTrans plans to do another round of funding in an effort to raise an additional $10 million. In fact, the company is soliciting investments right now on crowdfunding platform onevest (on which it’s already raised $645,540 of its $500,000 to $1.3 million goal), and it is scheduled to make a live pitch on onevest Nov. 4.
InterprePhone lets people using its Android or iPhone apps make international calls in any language. The user dials a number and the app enables the international call and translates anything said during the call itself in real-time. The package with unlimited international calls and translation sells for $29 a month, says Auerbach, adding “we think it’s a steal.”
The SpeechTrans platform also can be leveraged to transcribe entire conversations so callers can more easily review, share (this part is coming soon), and search the information conveyed in those calls later. This feature is available for $20.