[Funding alert] AI-based enterprise assistant startup Fireflies raises Rs 35 Cr led by Canaan Partners
Artificial Intelligence-enabled enterprise assistant Fireflies recently raised Rs 35 crore in its first funding round led by Canaan Partners, along with several other notable tech executives.
The Hyderabad- and San Francisco-based company plans on using the funds to grow its core engineering teams in Hyderabad, Bengaluru, and Delhi and enhance its machine learning and infrastructure teams, Fireflies shared with YourStory in an email.
The other participating investors were April Underwood and Bill Macaitis from the cloud-based team collaboration tool Slack; Aston Motes and Armando Mann from file storage and sharing company Dropbox; Sandhya Venkatachalam, Vice President of Corporate Development at Skype and Cisco; Peter Reinhardt, CEO of Segment; and Susan Kimberlin, Director of Search at Salesforce.
The startup emphasises the easy and flexible use of its platform. It works across web-conferencing platforms such as Zoom, Google Meet, Skype, GoToMeeting, and Webex, among others. Users can connect their online calendars with Fireflies, and its AI system will keep track of meetings in real-time. The startup stated in a release,
“These meetings are then indexed, transcribed, and made searchable on the Fireflies dashboard. One can also comment and annotate key moments and automatically extract relevant information.”
Fireflies further shared that it is leveraging the best of Automatic Speech Recognition (ASR), natural language processing (NLP), and neural nets, among other technologies. The startup states that the platform can be used by anyone, from sales managers and marketeers to engineers and recruiters, across big and small organisations.
The startup has worked alongside other platforms, including Slack, Salesforce, and Hubspot, to make possible the syncing of relevant information from a meeting to the progress on an individual’s ongoing work in the same area.
The B2B-focused startup, which is easing the task of minute-making for corporate meetings, was founded in 2016 by Krish Ramineni an alumnus of the Universtiy of Pennsylvania and former product manager at Microsoft, working on data science initatives and customer voice analytics.
He is currently the CEO of Fireflies, while Co-founder Sam Udotong, a Massachusetts Institute of Technology graduate, is the CTO.
(Edited by Athirupa Geetha Manichandar)