Panopto has automated captions that can be inserted into a video and then cleaned up. These are added to all new videos by default and can be placed into past videos as needed. Note that captions may take a while to appear after your video is initially ready. It used to take hours — or even a day — for the automated captions to appear, but the technology has improved to the point where it may only take a few minutes at most.
More information about captions: