Read AI is a Seattle startup, which sells enterprise productivity software tools fueled by generative AI. The startup just raised $50 million in Series B funding. The round was led by New York-based Smash Capital with participation from existing investors, Madrona and Goodwater Capital, which backed Tiimo and DHARMA.
This new funding brings the company’s total funding to $81 million just six months after its Series A. Moreover, it values the company at $450 million.
The round follows a period of rapid growth for Read AI, which says it has added more than 100,000 new users since its prior funding round. It added that it has an 81% retention rate for those new users.
Brings AI insights to Gmail
Alongside this announcement, the company launched Read AI for Gmail, which transforms Gmail into a productivity hub with smart AI summaries, a feed of contextual insights from previous meetings and messages, and automatically generated responses.
Read AI for Gmail is a free Chrome Extension that integrates directly into Gmail to streamline email management by surfacing relevant information from meetings, emails, and messages. If a client emails about a project update, it can instantly pull in related content from a recent meeting, and draft a response without searching through multiple platforms.
For lengthy email threads, it will generate a concise summary of everything that has been said, highlighting all of the key points and action items. It will also integrate contextual information from Slack, Zoom, Teams, and Meet if the user has communicated with the same client on one of those channels.
Copilot Everywhere
Read AI was founded in 2021 by David Shim, Robert Williams, and Elliott Waldron in Seattle. The company’s vision goes beyond just meetings. It can now analyse emails and messaging threads, in addition to video calls and suggests action items based on its analysis of information shared across communication channels.
The focus is on building a “copilot everywhere” that works across various platforms. “In the age of AI assistants and agents, Read AI has gone from upstart to incumbent with a 720% increase in active users in the last 12 months,” said David Shim, Co-Founder and CEO of Read AI. “With the introduction of Read AI for Gmail, we’re building on the vision of a copilot everywhere you work, where your meetings and messages are connected to your inbox, threads are summarized, and email replies are drafted based on connected content.”
“Productivity is set to be one of the largest opportunities for AI in 2025. Read AI is the preferred solution for millions of users. With 22% MoM growth in active users, Read AI is the clear winner in AI-meeting notes and is poised to bring broader productivity AI to the global masses,” said Brad Twohig, Co-Founder and Managing Partner at Smash Capital. As part of the round, Twohig will join the board of directors.
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