Read AI, the leader in gen AI meeting summaries, announces a $21 million Series A financing led by Goodwater Capital with existing investor Madrona Venture Group. Coddy Johnson, Partner at Goodwater, will join the Board of Directors alongside Madrona’s Matt McIlwain and David Shim, Read AI’s Co-Founder and CEO. The additional capital will accelerate Read AI’s mission of building the future of work, where every interaction is improved with AI.
Connected Intelligence for Emails and Messages
Along with the Series A, Read introduces gen AI summaries, “Readouts”, for email and messaging on Gmail, Outlook, Teams, and Slack. Read’s intelligent agents work quietly in the background, enabling your meetings, emails, and messages to interact with each other. This connected intelligence unifies your communications and empowers you and your team with personalized, actionable briefings, tailored to your needs and priorities.
"Read is about getting to the heart of work – creating value, not sorting emails, expanding threads, and sitting in meetings," said David Shim, Co-Founder and CEO of Read AI.
"Read AI brings together your meetings, emails, and messages and transforms them into collaborative partners, so that they talk to each other, share information, offer updates, find answers, and organize tasks through connected intelligence. By turning dialogue into action, Read ensures every conversation moves you to value and impact,” said Shim.
Adoption in Meetings
Read AI’s intelligent agents, previously available for meetings on Microsoft Teams, Google Meet, and Zoom, have experienced exponential growth with a 12X increase in monthly active users and 15X increase in measured meetings in 40+ countries over the last year.
“Read AI empowers every knowledge worker to spend radically less time on process - meetings, emails, and messaging - and more time on what matters most: creating value,” said Johnson. “Everyone from college students to project managers to oil field supervisors and startup entrepreneurs agree - and they are adopting Read at a historic pace. Based on third-party data analysis, Read AI is not only the fastest-growing meeting note-taker, it is also one of the fastest-growing consumer utility apps of all time.
“David and his team’s vision has already transformed the meeting experience of hundreds of thousands of users. With the launch of connected intelligence, it will soon transform the working experience for millions of consumers and the businesses, schools, institutions, and homes they support,” said Johnson.
Capabilities for Email and Messaging
Read AI is now available for Google Gmail, Microsoft Outlook, Slack, and Microsoft Teams as a free service to all users. Within 24 hours of connecting your email or messaging, Read learns what topics are most relevant to you based on your emails, messages, and channels.
The average gen AI summary from Read AI condenses 50 emails across 10 recipients, and 56 message threads across 7 participants into a single topic.
Read AI’s gen AI topic reports, “Readouts”, deliver reporting that auto-updates throughout the day:
“Read AI’s intelligent apps make the company the leader in actionable AI for knowledge workers by enabling them to attend fewer calls, spend less time in email, and more time working on meaningful work, not busy work,” said Matt McIlwain, Managing Director at Madrona. “Rather than a co-pilot, Read is building an AI auto-pilot to improve knowledge workers' individual and team effectiveness across meetings, emails, and messages.”
Add to Email and Messages
New Users: To start using Read AI’s intelligent agents for free on Gmail, Outlook, Teams, and Slack emails and messages, simply sign up at https://app.read.ai/analytics/signup/
Existing Users: Login and connect your Gmail, Outlook, Teams, or Slack account at https://app.read.ai/analytics/integrations/user/
Join Us
Read AI, (https://www.read.ai) was founded in 2021 by David Shim, Robert Williams, Elliott Waldron. The company is backed by Madrona Venture Group and Goodwater Capital. Our team has founded and led companies that have generated hundreds of millions in revenue and billions in market value at Foursquare, Snapchat, Placed, and Farecast. To date, Read has raised over $32 million.
Our team is similar to our summaries: smart, efficient, and effective. This is just the beginning of our story, and if you are excited about bringing productivity AI to the masses, apply to join us at careers@read.ai.
About Goodwater
Goodwater’s (www.goodwatercap.com) mission is to empower exceptional entrepreneurs everywhere to change the world for good. We are the world’s largest venture capital fund exclusively focused on consumer technology, with over 80 venture and growth investments and over 700 seed investments across more than 50 countries. Our consumer-only sector focus enables a systematic global approach, and our proprietary software platform helps us to identify and support the best consumer tech companies in all corners of the globe.
About Madrona
Madrona (www.madrona.com) is a venture capital firm based in Seattle with an office in Palo Alto. With nearly 30 years of investing in early-stage technology companies, the firm has worked with founders from day one to help build their company for the long run. Madrona invests predominantly in seed and Series A rounds of companies in the Pacific NW building across the information technology spectrum and in Acceleration (B and beyond) stage companies building with AI, regardless of geography. The firm has more than $3 billion under management. Madrona was an early investor in companies such as Amazon, Snowflake, UIPath, Smartsheet, Rover, and Redfin.
© 2024 Read AI, Inc.
