San Francisco-based start-up Recall.ai has announced a $10 million funding round to help businesses unlock valuable insights from the data collected during video conferences. Recall works with technology companies offering products that process data from video conferences on platforms like Zoom, Google Meet, and Microsoft Teams. These “meeting bots” range from software that creates detailed meeting minutes to more advanced solutions like sales training apps. Recall’s tool can be integrated into these products to extract actionable insights from video calls.
Co-founded in 2022 by David Gu and Amanda Zhu, Recall aims to help software engineers building meeting bots by handling the technical challenges of extracting insights from video. This allows engineers to focus on developing key product features, while Recall’s platform does the analytical work. The applications for products powered by this technology are vast, with customers using meeting bots for various purposes like producing patient notes for doctors and helping financial advisers determine their clients’ needs. So far, Recall has signed up around 300 clients, experiencing significant revenue growth over the past year.
Recall has faced challenges such as navigating data protection regulations, ensuring compliance with frameworks like SOC 2 and GDPR, and keeping up with the fast-paced evolution of the AI sector. However, the company’s ability to onboard clients quickly indicates success in overcoming these obstacles. With plans to reach 600 clients by the end of the year, Recall recently raised $10 million in Series A funding, led by Ridge Ventures with support from other investors. The funding will go towards hiring new employees and further developing the product.
Investors see Recall as a key player in the enterprise-level conversational data industry. Partner Akriti Dokania at Ridge Ventures believes Recall is on its way to becoming the infrastructural layer for all enterprise-level conversational data. As video and voice data become more essential for software companies, providing infrastructure API access is crucial, and Recall’s growth demonstrates its potential to fill this gap. With only nine employees currently, the funding will support Recall’s expansion and product development efforts as it continues to establish itself as a leader in the space.
