Enterprise voice-assistant provider Fireflies.ai said it has raised $14 million as a part of its Series A funding round, led by Khosla Ventures, to fuel its next phase of growth.
Early-stage venture capital firm Canaan Partners also participated in the round.
The company plans to use the fresh capital to expand its team and actively hire across functions of engineering, customer engagement and marketing. The startup will also use the investment to scale up its core engineering efforts to support customer demand, it said.
Before the latest round, the startup had raised around $5 million, including some micro-rounds, a stint in the Acceleprise accelerator, and a $4.9 million seed round raised in late 2019. It is backed by current and former executives of Slack, Salesforce, Dropbox, Hopin, and Facebook.
The San Francisco and Hyderabad-based startup provides a collaboration tool that allows teams to capture voice conversations, transcribe meetings, and makes them easily searchable, as it looks to create an automated knowledge base for organisations.
The platform’s solutions can be leveraged for key use cases such as customer feedback calls, or to capture insights during hiring interviews.
“When we first designed Fireflies, we wanted it to work with the ecosystem of tools that we use every single day. Fireflies connect 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. To be able to orchestrate and automate complex business workflows with just the sound of our voice is something we hope to make possible in workplaces”, said Krish Ramineni, co-founder and chief executive officer, Fireflies.ai.
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The company rolled out its voice assistant in January 2020 for all major video conferencing platforms including Zoom, Google Meet, Microsoft Teams, Webex, GoToMeeting, and Skype.
In the past year, Fireflies claims that its service has been used by over 2 million people across 200,000 organisations.
“Fireflies is extracting insights from one of the largest existing sources of knowledge in a company, which is voice conversations. The Fireflies platform creates a layer of intelligent piping across communication systems that connect the right information, to the right people at the right time”, said Sandhya Venkatachalam, partner at Khosla Ventures, who will join Fireflies’ board of directors as a part of this fundraiser.
