Fireflies raises ₹100 crore

Voice intelligence and AI assistant provider Fireflies.ai has raised ₹100 crore ($14 million) in Series A funding, led by Khosla Ventures, with participation from seed investors, Canaan Partners.

The San Francisco and Hyderabad-based start-up that has presence in major cities in India like Bengaluru, Chennai and Delhi plans to use the new capital to grow the 50-member team that currently is distributed across five countries and 12 cities. While actively hiring across engineering, customer, and marketing teams, it is also making major engineering investments in technologies like GPT-3 and scaling core engineering efforts to support customer demand, a Fireflies statement said.

The latest investment follows the ₹35 crore seed round in late 2019. Partner at Khosla Ventures Sandhya Venkatachalam joined partner at Cannan Rayfe Gaspar-Asaoka on the board of directors. Angel investors who are either current or previous executives at organisations such as Slack, Salesforce, Dropbox, Hopin and Facebook continue to support the firm.

“Fireflies is extracting insights from one of the largest existing sources of knowledge in a company, which is voice conversations,” said Ms. Venkatachalam.

The company rolled out its Voice Assistant in January 2020 for all the major video conferencing platforms, including Zoom, Google Meet and Microsoft Teams. Over the past year, it has “been in meetings, taking notes for over 2 million people across 200,000 orgs,” the release said.

Co-founder and CEO Krish Ramineni said “when we first designed Fireflies, we wanted it to work with the ecosystem of tools that we use every single day. Fireflies connects 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.”

From capturing conversations, transcribing meetings and making them easily searchable, Fireflies is creating an automated knowledge base for organisations. It helps document and collaborate around the voice of their customers, candidates, and employees. The release said this seeking to highlight how voice is more important than ever before.

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