Voice intelligence and AI assistant provider Fireflies announced on Monday that it has raised Rs 100 crore in Series A funding led by Khosla Ventures and its seed investor Canaan Partners.
The round comes after the Rs 35 crore seed round at the end of 2019, taking the startup’s total funding to over Rs 135 crore.
Sandhya Venkatachalam, Partner at Khosla Ventures, joins Rayfe Gaspar-Asaoka, Partner at Cannan, on the Board of Directors. Angel investors, who are existing or former executives at Slack, Salesforce, Dropbox, Hopin, and Facebook, also backed the startup.
Established in 2016, San Francisco and Hyderabad-based Fireflies also has offices in Bengaluru, Chennai, and Delhi.
The startup plans to utilize the freshly raised funds to grow its 50 person team, distributed across five countries and 12 cities. It is actively recruiting across engineering, customer care, and marketing teams. The startup is also making significant investments in technologies like GPT-3 and scaling core engineering efforts to support customer demand.
“Fireflies is extracting insights from one of the largest existing sources of knowledge in a company, which is voice conversations. The Fireflies platform creates a layer of intelligent piping across communication systems that connect the right information to the right people at the right time,” says investor Sandhya Venkatachalam.
With the COVID-19 pandemic hastening the increase of remote and asynchronous work, people spend most of the day video-conferencing with their team. With its Voice Assistant, launched in January 2020, Fireflies has been in meetings, taking notes for over two million people across 200,000 organizations, equivalent to several centuries of meetings compressed in a short time.
It has collaborated with leading video conferencing platforms, including Zoom, Google Meet, MSFT Teams, Webex, GoToMeeting, and Skype.
Krish Ramineni, Co-founder and CEO said, “When we first designed Fireflies, we wanted it to work with the ecosystem of tools that we use every single day. Fireflies connect to your calendar, and can even capture meetings scheduled via tools like Calendly or x.ai. The entire experience can be automated with just a few clicks.”
“Deep work is about streamlining repetitive tasks so that people don’t lose context while switching between meetings, calendars, emails, and collaboration apps. To be able to orchestrate and automate complex business workflows with just the sound of our voice is something we hope to make possible for every person in the workplace. It starts with democratizing voice-powered AI for everyday use cases like meeting notes,” he added.
Fireflies looks like an interesting platform to record or transcribe audio files or online meetings especially as most of the workforce has been pushed to work from home. The startup is offering innovative services and would do amazingly well in the times to come. My best wishes to the team of Fireflies.Shishir Gupta, Founder and CEO, StartupLanes
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