Read AI Secures $50M, Launches AI Copilot Tools

A new milestone in productivity has emerged as Read AI Inc. closes a $50 million Series B funding round, spearheaded by Smash Capital, with continued backing from existing investors Madrona and Goodwater Capital. This latest investment comes just six months after the startup raised $21 million in its Series A round, bringing the total amount raised to an impressive $81 million. Such rapid funding highlights the company’s dynamic growth trajectory and its mission to revolutionize how individuals and teams work.

The startup is dedicated to developing generative AI tools that summarize text, audio, and video content, designed to streamline the communication and collaboration processes in various enterprise environments. By integrating seamlessly with platforms like Google Meet, Microsoft Teams, Slack, Gmail, Zoom, Outlook, Salesforce, and Hubspot, Read AI’s technology enables users to quickly grasp the essential points from their interactions, effectively bridging the gap in digital communication.

At the heart of Read AI’s offerings is its capability to listen in on video calls across major platforms, automatically taking notes and summarizing discussions to ensure users capture critical information without the hassle of manual note-taking. This innovation not only saves time but also enhances productivity, allowing users to focus on their tasks instead of recalling every detail from meetings.

Additionally, Read AI incorporates coaching features that analyze user performance during meetings, offering personalized tips for improvement. This focus on user development empowers individuals to communicate more clearly and concisely in future interactions, transforming not just how they work but also how they engage with colleagues and clients.

In conjunction with the funding announcement, Read AI has launched a new feature called Read AI for Gmail, part of its “copilots everywhere” initiative. This tool transforms Gmail into a productivity hub, offering smart AI-generated summaries, contextual insights from past communications, and even automatic responses to emails. The extension is now available as a free Chrome browser extension, making it easily accessible for users.

Integrating directly with Gmail, the new tool streamlines email management by surfacing the most relevant information related to a user’s work. For instance, if a client sends an email about an important project update, Read AI can pull related content, such as notes from earlier meetings and prior correspondence, to provide valuable context. It can also draft responses based on this context, saving users even more time.

For lengthy email threads, Read AI generates concise summaries, highlighting key points and action items, while integrating information from Slack, Zoom, Teams, and Meet if relevant communications have taken place. This functionality ensures users are equipped with a comprehensive understanding of their correspondence, enabling them to prioritize tasks effectively.

David Shim, co-founder and Chief Executive, emphasized that the launch of Read AI for Gmail is a significant step toward realizing the vision of an AI copilot available wherever users work. By interlinking messages with meeting data, the platform enhances existing workflows rather than altering them. “With the launch of Read AI for Gmail, we’re using your existing workflow, email and introducing an AI copilot to a platform used by billions of users,” Shim stated. “By bringing meeting and message data directly into your inbox, we’re improving them by delivering a copilot everywhere you work.”

Read AI’s rapid growth has been noteworthy, with more than 100,000 new users added since the previous funding round and an impressive retention rate of 81% among these users. In the past year, active users have skyrocketed by 720%, signaling the startup’s increasing relevance in a competitive landscape.

Brad Twohig, Managing Partner at Smash Capital, remarked on the significant opportunity productivity presents within the generative AI industry. He views Read AI as a clear leader in meeting note-taking capabilities. “In the past year, Read AI has become the standard across meetings on Google Meet, Zoom, and Microsoft Teams,” he noted, highlighting the startup’s impressive integration capabilities with platforms like Slack, Hubspot, and Salesforce as it expands its influence in both enterprise and consumer markets.