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More money for the generative AI gravy : Y Combinator - backed developer infrastructure startupRecall.aiannounced Thursday it has raised a $ 10 million Series A financial support round , bring its total raised to over $ 12 million .
The inauguration has built infrastructure and a incorporate API that enable companies to access raw data from virtual meeting platforms like Google Meet , Microsoft Teams , Slack Huddles , Zoom and even platforms with no API . With the video and audio data , substance abuser can work up AI - powered meeting bots or apps such as sales coaching , meeting notetaker or daily standup bots .
Recall.ai say the young Washington will be used to grow its squad and work up integrations with more data author . The two - twelvemonth - old startup currently has nine staff and expects to grow its team to more than 16 by the end of this year , David Gu , co - father and CEO , told TechCrunch .
Gu and Recall.ai co - founder Amanda Zhu both advert the University of Waterloo before dropping out to progress the startup . “ I study software engineering while my co - founder studied computer scientific discipline and commercial enterprise , ” Gu said . “ We dropped out of Waterloo when we were 19 years old to start a ship’s company together . I didY Combinatorwhen I was 19 . ”
The yoke previously worked on a real - time transcription tool for video recording conferences and had experience construction integrations with video conferencing platforms and the associated substructure .
They launch Recall.ai in 2022 with the target of responding to two decisive trend — a shift to remote work worldwide and the thunder in reproductive AI — after witness other companies face the same job they did around integrating AI tools .
“ Enterprises are more and more looking for ways to incorporate AI into their Cartesian product offer and conversation are a massive dataset where applying AI make a ton of sense , ” Gu suggested . “ In 2022 , a originate number of companies started building products that used LLMs [ large oral communication models ] to process data from video conferences . However , every single one of these companies was running into the same integration and substructure hurdles we had encountered and lick . ”
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“ It take a year or more of engineering time to work up the infrastructure and desegregation in - house in the most basic form , ” he went on . “ Once it ’s built , society face a bigger challenge : Hosting the substructure postulate 100 to thousands of servers to handle the processing and a squad of engineers to supervise , scale and maintain everything . ”
Enterprises that utilise Recall ’s API and base do n’t need to progress out this base themselves , which means they can deploy new AI - power products and features rapidly and cost - effectively , Gu explained , likening it to how companies can tap cloud computing infrastructure like AWS to descale their vane apps . Recall.ai aims to offer the usual infrastructure for every company that demand to get at and go for AI to conversations , he added .
“ Recall.ai provides the infrastructure layer that many of these companies build on top of , similar to how these companies use AWS , ” he suggested . “ We do n’t have any rival , as there are n’t any other companionship offering the same service which is developer infrastructure to capture and process meeting data . ”
On the regulatory front , Recall.ai says it’sSOC2,GDPR , CCPAandHIPAAcompliant and has no military or government contracts . Audio and video recordings are stored for a maximum of seven days , after which they are mechanically deleted .
“ We also provide an API termination for users to edit the data point at once at any time if they need to minimize the length we store the data for , ” Gu suppose .
The startup pull in tax income by charging per minute of audio and telecasting work through its APIs . In less than two year Recall.ai has develop annual receipts from zero to several million dollars , Gu note , saying it now has more than 300 enterprise customers which collectively bring “ trillion ” of users .
Over the past 12 calendar month , the company has see 10x growth in revenue , he also told us .
Ridge Ventures lead the Series A along with Industry Ventures , Y Combinator , IrregEx , Bungalow Capital , Hack VC and other existing investors .
