Fireflies.ai, an AI that joins conference calls and takes short bullet point notes like a human, announced it has raised $14 million in series A funding, the company and its co-founder, Sam Udotong, announced Tuesday.
Fireflies takes notes and also forms short bullet points from conversations with the aid of transcription tools.
The company which began in 2016, is designed to work as a voice assistant transcription tool, and is used in connection with video conferencing apps like Zoom and Google Meet.
After transcribing everything in the meeting, the AI analyses the conversation and puts together a report with insights to share by email or through apps like Slack and Salesforce.
The funding round was led by Khosla Ventures, with participation from Canaan Partners and angel backers.
According to the company, the round comes after the company completed a $5 million seed round in October 2019, bringing its total amount raised to $19 million.
More than 10,000 teams use Fireflies.ai today. In terms of personal usage, its user base is represented by about 35,000 organisations, according to Techcrunch.
From three pizza slices and a bottle of Soylent every day, Mr Udotong, a Nigerian-born enterpreneur, transitioned to own what is deemed the world’s largest transcription company, said Sam Debrule, who tweeted about the company Tuesday.
The road to Mr Udotong’s success can be described as anything but easy. In 2016, he moved to San Francisco with as little as $100 in his pocket, Debrule wrote.
Mr Udotong and his co-founder Krish Ramineni changed the direction of his company seven times before eventually finding a solid footing for it.
The company which now has offices in Hyderabad, India and San Francisco, recently announced via its verified Twitter handle that it has so far raised a startup of $14 million, majorly from top investors.
Mr Udotong and his co-founder Krish Ramineni started fireflies at an MIT hackathon.
Relentlessness and sheer determination was the vehicle that drove them to success.
After graduation, many of Mr Udotong’s classmates took jobs at companies like Facebook and Google, but he bet on himself and decided to bootstrap his company.
He asked family members in Nigeria to introduce him to engineers willing to work remotely and didn’t give up when the product wasn’t resonating with customers.
He said Fireflies started as an on-campus food delivery app that you could pay for in bitcoin.
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