Huddl.ai, came out of stealth mode on Thursday with a $6.25 million seed round funding to help improve the efficiency of remote meetings.
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“At other companies I worked for, I felt like I spent too much time in meetings and couldn’t get my work done,” Huddl.ai’s founder and CEO Krishna Yarlagadda told Crunchbase News.
Since forming in 2017, the Mountain View, California-based startup has raised a total of $8.7 million. The new round was led by Propel Venture Partners, Bain Capital Ventures and Bloomberg Beta, and also included BoxGroup and Ronnie Lott. The company raised $2.5 million in an earlier seed round, Yarlagadda said.
The new investment will be used to fund product development and Huddl.ai’s go-to-market strategy, he said.
What it does
Huddl.ai’s video conferencing service features notes application, automatic speech recognition that turns speech into searchable text, and a recommendation engine that suggests meeting agendas based on participants.
Essentially, the platform creates “meeting moments,” called Motes, that are summarized for meeting participants and can serve as future action items and integrate with other applications, such as Slack and calendars. It even informs a group when a participant is running late.
The product has been in beta over the past 12 months, but this year the number of users exploded by 15 to 20 times and is now being used in more than 80 countries, Yarlagadda said.
“It has helped us get a lot of issues resolved with the beta product,” he added.
Next steps for Huddl.ai
The company has 50 employees right now with an expectation of adding about 20 more by the end of the year, Yarlagadda said.
Other goals include getting the platform into more peoples’ hands, adding security solutions–such as face recognition–adding more integrations, and offering templates so customers can customize their layouts.
“Meetings are all about outcomes, and we’ve built our product around making meetings more useful. The theme of adding intelligence is going to continue,” he added.
Illustration: Dom Guzman