AI transcription service gets $14m boost

Firefly helps us deal with the Zoom meetings by automatically transcribing audio.


May 26, 2021

Pencils down, class. A virtual transcription assistant is here to make physical note taking obsolete.

Fireflies has raised $14m, per VentureBeat, which it will use to expand services and hire more people.

The startup uses AI to record video meetings…

… and automatically transcribe the audio with 90% accuracy, the company says. It can also transcribe prerecorded audio.

On top of making Zoom meetings more accessible to employees who are deaf or hard of hearing, other handy features include:

  • A transcript search function
  • Comments and reactions
  • Integration with other platforms, like Slack, Dropbox, Zapier, and CRMs

Fireflies is free until users hit 3k minutes

Then teams can pay for monthly ($10-$19) or custom plans with more space and perks.

CEO Krish Ramineni told VentureBeat the tech was used by 200k+ organizations last year, during which revenue also jumped 3x.

That makes sense because digital meetings were necessary during the pandemic…

… and they’re likely to stick around:

  • A study that surveyed 22k+ working-age Americans estimated 23% of workdays will stay remote, 4x more than before the pandemic.
  • Another found that ~81% of respondents want to stay home all or some days.
  • In March, Zoom still expected a 41%+ revenue jump this year, even as pandemic restrictions relaxed.

Bonus: Letting AI take your notes may reduce Zoom fatigue.

Join 1.5m+ professionals getting The Hustle daily news brief

Business and tech news in 5 minutes or less

100% free, no ads or spam, unsubscribe anytime

Psst

How'd Bezos build a billion dollar empire?

In 1994, Jeff Bezos discovered a shocking stat: Internet usage grew 2,300% per year.

Data shows where markets are headed.

And that’s why we built Trends — to show you up-and-coming market opportunities about to explode. Interested?

Join us, it's free.

Look, you came to this site because you saw something cool. But here’s the deal. This site is actually a daily email that covers the important news in business, tech, and culture.

So, if you like what you’re reading, give the email a try.

If you don’t like it, unsubscribe any time. Privacy policy.