Fireflies raise USD 13.7 Million in Series A

On 24th May 2021, Fireflies, an Ai assistant and Voice intelligence provider, announced that it raised  USD 13.7 Million in Series A funding round. This round was led by Khosla Ventures with the participation of Canaan Partners, which was also the lead investor in the company’s seed round.

In 2019, the startup got fundraised USD 4.8 Million, which brings the startup to a sum of USD 18.5 million in valuations. 

The startup will use this raised fund to increase its workforce, currently, it has a 50 person team. It is distributed over 5 countries and 12 cities. It is hiring customer care, engineering and marketing teams. Technologies like Scaling core engineering efforts and GPT-3 are getting investments by the company to support customer demands.

Words from the investors – 

“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.

About Fireflies – 

Fireflies was founded in 2016 by Krish Ramineni and Sam Udotong, having its headquarters in San Francisco and Hyderabad. It also has offices in Bengaluru, Delhi, and Chennai

The startup creates an automated knowledge base for the companies – transcribing meetings to make them searchable and capturing conversation. It can auto-log notes and calls in CRM, save meeting recap to dropbox and create a task in Asana.

As the ongoing COVID-19 crisis is increasing remote working, as people are spending large time on Video Conferencing with their colleagues, the chances of having mass customers are increasing for the startup. 

“ With its Voice Assistant — rolled out in January 2020 — Fireflies has been in meetings, taking notes for over two million people across 200,000 organisations — equivalent to several centuries of meetings compressed in a short period of time.”

Words from the CEO – 

“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,” – Co-founder and CEO Krish Ramineni.

“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 democratising voice-powered AI for everyday use cases like meeting notes,” he added.

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