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Now that we have so many startup offer AI bot that can do everything from listen to your meetings and transcribing them , to taking preeminence and come up insights , company in the space are being forced to speciate themselves by offering additional feature sets and integration .
One such fellowship , Read AIis attempt to do just that by integrate its AI bot with electronic mail , Slack , and enterprisingness tools like HubSpot , Jira , and Confluence . And to speed its intersection development , the startup recently raised $ 50 million in a Series B backing bout run by Smash Capital . Notably , the new round comes just six months afterthe startupraised a$21 million Series A.
Co - father David Shim told TechCrunch that the company has consider solid customer growth since its Series A earlier this year — it has had more than 100,000 new accounts create across enterprises and individual user — and the companionship sought to leverage that growth .
“ In less than six months , we ’ve doubled our planetary house - ups , fighting exploiter , and [ monthly resort revenue ] , surpassing even our most aggressive projection . We ’re leveraging this momentum to lift now , ” he said .
Shim did n’t disclose Read AI ’s valuation , but he did say that its valuation escort a gibbosity to tally its growth .
Brad Twohig , co - founder and managing partner at Smash Capital , said that when investing , he often looks for companies that employ a production - led growth model , and Read AI outfit that necessary well .
“ I love finding fellowship in space that both provide to a expectant group of people and have an go-ahead element at the same time , ” he said .
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Product evolution
Read AI start out corroborate desegregation with email , messages , and converge apps in the first place this year , and the companionship is today releasing a Chrome telephone extension that can exhibit your schedules , meeting reports , a quick add - to - confluence pick , and insight from meetings .
The propagation can highlight central point within lengthy electronic mail train of thought , and can make email drafts that take into context previous e-mail , messages , and meeting . It also highlights agile notes from meetings or morass messages about the same topic in electronic mail threads .
e-mail clients from supplier likeShortwaveandSuperhumanalso offer exchangeable capableness .
Read AI is offering the Chrome wing for gratuitous . Shim note the new fundraise was another reasonableness to develop and scale product like this and provide them without cost .
“ Wherever you work , we ’re pulling in that content , and we ’re kick in you summary , we ’re giving you passport . That ’s a bigger opportunity , but there is a bigger monetary value inwardness associated with it . We ’re focusing on growing that market while maintaining the lead that we have on the get together note side , ” Shim articulate .
Smash Capital ’s Twohig feels services that transcribe meeting are becoming a trade good , but Read AI ’s approach of deploy its AI bot everywhere can help it become a ok job .
“ We run into Read AI as an assistant showing up at meetings and take preeminence . But when we model down with David , we understood a broader imaginativeness and concept of having a Centennial State - pilot light anywhere . This puppet can succeed you through twenty-four hours - to - twenty-four hour period tasks , keep helpful record , and earmark you to be a better mate . ”
Read AI presently has 40 employees and the caller aims to spread out its stave to 100 mass by the end of the Q1 2025 .
The Series B round also saw participation from exist investors Madrona and Goodwater Capital .
