Read AI, a prominent player in AI-driven meeting synopses, has recently secured a $21 million Series A funding round spearheaded by Goodwater Capital, with the participation of existing backer Madrona Venture Group. This financial infusion is earmarked to expedite the company’s objective of shaping the future of work, where each interaction is enriched by artificial intelligence.
In conjunction with the funding, Read AI has introduced a novel service that extends its “connected intelligence” to email and messaging platforms such as Gmail, Outlook, Teams, and Slack. This expansion empowers Read AI’s intelligent agents to operate discreetly in the background, facilitating seamless interaction among meetings, emails, and messages to furnish users with personalized, actionable briefings tailored to their specific requirements and priorities.
David Shim, the co-founder and CEO of Read AI, articulated in an interview with VentureBeat, “Read is all about delving into the essence of work—generating value rather than sifting through emails, expanding threads, or attending meetings.” He further elucidated that the platform amalgamates meetings, emails, and messages, metamorphosing them into collaborative allies that communicate, exchange information, provide updates, seek solutions, and organize tasks through connected intelligence.
Groundbreaking Progress in Connected Intelligent Agents
Over the past year, Read AI’s meeting synopses, previously accessible on Microsoft Teams, Google Meet, and Zoom, have witnessed substantial growth, boasting a 12x surge in monthly active users and a 15x rise in recorded meetings across over 40 countries, as per Shim.
VB Event
The AI Impact Tour – Atlanta
Continuing its tour, the AI Impact Tour is making its way to Atlanta for an exclusive event on April 10th. In collaboration with Microsoft, this invite-only occasion will feature dialogues on how generative AI is revolutionizing the security workforce. Limited slots are available, so secure your invitation promptly.
The company’s AI-fueled topic reports, known as “Readouts,” distill copious email and message threads into succinct summaries, complete with designated action items and insights into pivotal queries. Initial user feedback underscores that Read AI consistently liberates one workday per week for knowledge workers, enabling them to concentrate on core tasks.
Shim noted, “Among knowledge workers, Read is consistently credited with freeing up 1 day a week for them to focus on essential work.” Major corporations utilize Read AI to streamline cross-continental and cross-time zone communication. Social workers leverage Read to document client meetings and subsequently integrate their Readouts into their EHR / EMR software. Consultants commonly report an additional 5 to 10 hours per employee weekly with Read AI.
Emphasizing Data Privacy and Security
Shim emphasized to VentureBeat that data privacy and security are fundamental pillars of Read AI’s platform, underscored by routine SOC 2 Type 2 audits and end-to-end encryption for all measured data. Users retain full authority over data retention policies, and the platform is architected to grant businesses and users comprehensive control over their measured data.
Amidst the rapid evolution of the generative AI domain, Read AI distinguishes itself through its multimodal approach to meeting synopses, incorporating audio, video, and participant reactions into its models. This distinctive methodology, coupled with the company’s focus on proprietary models, positions Read AI to sustain a competitive edge in the market.
With the latest funding injection, Read AI is set to double its team size in the ensuing two quarters and further its investment in connected intelligence by integrating new platforms and functionalities. As the company progresses towards its vision of erecting an “AI auto-pilot” for knowledge workers, it remains steadfast in delivering immediate and enduring returns on investment to its expanding user base.
