Conversations are now the world’s largest dataset. Millions of hours of meetings happen every day over video conferencing platforms, and hundreds of companies strive to make sense of these meetings using AI-powered meeting bots.
However, developing these bots can take months, even years. Enter Recall.ai, the universal API for meeting bots, which has just announced a $10 million funding round to streamline the integration with any meeting platform, including Zoom, Google Meet, Microsoft Teams, Slack Huddles, and even platforms with no API.
Major Funding Round to Fuel Growth
Recall.ai’s Series A funding round, led by Ridge Ventures with participation from Industry Ventures, Y Combinator, IrregEx, Bungalow Capital, Hack VC, and other existing investors, aims to scale the company’s product and team.
This new investment brings the total amount raised by Recall.ai to over $12 million, following a $2.7 million seed round in December 2022. The funding will accelerate the company’s mission to simplify the development of AI-powered meeting bots.
Simplifying AI-Powered Meeting Bots
Developing AI-powered meeting bots typically requires over a year of effort from specialist engineers to build the necessary infrastructure and integrations. Once built, maintaining this infrastructure across hundreds of thousands of servers becomes a significant challenge.
Recall.ai offers a game-changing solution, enabling a single engineer to deploy a meeting bot in just a few days without expertise in real-time video processing. This allows companies to focus on their core products while Recall.ai handles the complex, real-time video infrastructure.
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“Recall has been a critical partner to us in rolling out Fellow.app’s new AI copilot functionality, which has been a huge hit with customers,” said Aydin Mirzaee, CEO of Fellow.app. “We love working with Recall because they are focused on the infrastructure so that we can focus on what we’re good at – solving meeting productivity for companies everywhere.”
The Founding Vision
Co-founders David Gu and Amanda Zhu launched Recall.ai against the backdrop of two major trends: the global shift to remote work and advancements in AI technology that have simplified the processing of unstructured voice and video data.
Prior to Recall.ai, Gu and Zhu worked on a real-time transcription tool for video conferences, where much of their effort was dedicated to building and maintaining integrations with conferencing platforms.
Recognizing that many companies faced similar integration and infrastructure challenges, they founded Recall.ai to support the next generation of LLM-powered applications.
Rapid Growth and Broad Adoption
Over the past 12 months, Recall.ai has experienced 10x growth and now processes millions of hours of video meeting data for more than 300 companies.
Clients use Recall.ai’s platform to develop tools leveraging conversation intelligence for various applications, including sales enablement, productivity, customer success, financial advising, telehealth, and virtual depositions.
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Notably, Recall recently partnered with Zoom to release an official Meeting Bot Starter Kit that generates transcripts, requests meeting summaries, and delivers them to participants in near real-time.
“Conversations are the world’s largest dataset,” said David Gu, co-founder at Recall.ai. “Large language models continue to unlock conversations in exciting ways, and the demand for developers to capture this data has never been higher. Every SaaS company in the world should be using conversations as a data source. Recall’s unified API makes it as easy as possible.”
The Future of Enterprise-Level Conversational Data
“Recall is on its way to becoming the de facto infrastructural layer for all enterprise-level conversational data,” added Akriti Dokania, Partner at Ridge Ventures.
“Video and voice data will only become more central to software companies moving forward. Providing infrastructure API access is a hard problem to solve and enterprises don’t want to solve it in-house—Recall’s tremendous growth proves it ten times over. Most importantly, David and Amanda are an ideal founding duo: technically gifted, tenacious, wise beyond their years, and always willing to learn and grow.”
With this new funding, Recall.ai is poised for its next phase of growth. Just as AWS provided the common infrastructure for web applications, Recall.ai aims to provide the foundational infrastructure for companies to access and apply AI to conversational data.
This innovation promises to make AI-powered meeting bots more accessible and efficient, transforming how businesses leverage meeting data.
By addressing the complex challenges of integrating and maintaining AI-powered meeting bots, Recall.ai is set to revolutionize the industry, making it easier for companies to harness the power of conversations for enhanced productivity and intelligence.
