Fireflies.AI, a company dedicated to developing artificial intelligence solutions for businesses, started the new year on a new high. The AI transcription and analysis brand has recently closed a funding seed round with $5 million, led by the Canaan Partners company. The new boost of cash will help the company to build its ranks with new talented employees.
Fireflies.AI is an innovative developer of AI assistants created for businesses. The AI solution automatically captures the things that people say in meetings and delivers action items and other important information based on that data. The text-to-speech solution was originally launched just over a year ago and intends to create a smarter meeting and conferencing services when used with solutions like Google Meet and Zoom.
Updating the Meeting Room
After transcribing everything said in a meeting environment, the AI solution from Fireflies.AI helps to analyse the conversation and deliver a report with useful information that can be shared via apps like Salesforce or Slack or delivered through email.
Funding for the Fireflies.AI seed round came from a range of companies aside from Canaan Partners, including F7 Ventures, and angel investors like Slack execs Bill Macaitis and April Underwood. Salesforce director Susan Kimberlin, also got involved.
According to Rayfe Gaspar-Asaoka from Canaan Partners, Fireflies is solving a significant pain point with a lot of companies, as well as capturing and structuring conversational data from meetings too. The company is building a repository of previously unstructured data that couldn’t be stored before, allowing for better business insights. With the Fireflies platform, companies can search back through previous meetings with other people and see what critical decisions were made. Additionally, the platform allows employees to more efficiently prepare for future interactions too.
Being able to structure, store, and use data from past meetings will allow companies to move faster and more efficiently than ever in the current digital landscape.
Delivering Transcription Intelligence
The area of automated transcription is a growing aspect of the voice technology space. Brands like Voicea have built fantastic go-to-business strategies around tools that can organise and efficiently transcribe notes. It’s also becoming a common capability in broader services offered by Google and Microsoft too. In the health environment, transcription and conversational analysis is becoming particularly popular, particularly with things like telemedicine. Amazon and Nuance are just some of the companies helping physicians to use transcription analysis technology.
Fireflies.AI is offering today’s brands a unique take on the range of features that are crucial to digital transcription, with an AI that recognises things like tone, feeling, and questions in voice. As the company adds more data to it’s background, it also plans to deliver language tools for specific kinds of jobs too.
