Recall.ai has secured $10 million in a Series A funding round to accelerate the development of AI meeting bots. This funding, led by Ridge Ventures with contributions from Industry Ventures, Y Combinator, IrregEx, Bungalow Capital, Hack VC, and other existing investors, follows a period of significant growth for the company, which reported a tenfold increase over the past year. The total funding raised by Recall.ai now exceeds $12 million, following a $2.7 million seed round in December 2022.
Recall.ai provides a universal API that allows developers to quickly and easily integrate AI-powered meeting bots with various video conferencing platforms, including Zoom, Google Meet, Microsoft Teams, Slack Huddles, and even platforms without an API. This solution enables developers to build and maintain meeting bots in a matter of days, significantly reducing the time and resources typically required.
The company was founded by David Gu and Amanda Zhu in response to the increasing demand for tools to process data from virtual meetings. Their experience in developing a real-time transcription tool highlighted the challenges associated with building and maintaining integrations with conferencing platforms. Recall.ai addresses these challenges, enabling companies to leverage conversation data for various applications such as sales enablement, productivity, customer success, financial advising, telehealth, and virtual depositions.
In addition to its rapid growth, Recall.ai has partnered with Zoom to release an official Meeting Bot Starter Kit. This kit generates transcripts and meeting summaries in near real-time, providing participants with immediate access to crucial information.
David Gu, co-founder of Recall.ai, emphasized the significance of conversations as a data source and the role of large language models in unlocking this data. Akriti Dokania, Partner at Ridge Ventures, highlighted Recall.ai’s potential to become the foundational infrastructure for enterprise-level conversational data, citing the technical expertise and determination of its founders.
The new funding will support Recall.ai’s continued expansion and product development, positioning the company as a key provider of infrastructure for AI applications in conversations, similar to how AWS provides infrastructure for web applications.
