Read AI

Company Overview

Read AI is a technology company that provides AI-powered tools to improve productivity and efficiency for meetings, emails, and messaging. The company was founded in 2021 and is based in Seattle, Washington. Read AI aims to build “the future of work” by using artificial intelligence to enhance workplace interactions and communications.

Products Overview

Read AI’s core product is a digital platform that offers the following key features:

• Automated meeting summaries, transcripts, and video highlights
• AI-generated summaries for emails and messaging conversations
• Meeting playback with topics, key questions, action items, and participant reactions
• Real-time meeting analytics and metrics
• Speaker coaching and recommendations to improve communication
• Integrations with platforms like Zoom, Microsoft Teams, Google Meet, Slack, and more

The platform uses AI to automatically generate concise summaries, extract action items, identify key topics, and provide insights to make meetings and communications more productive. It aims to save time on manual note-taking and help users focus on the most important information.

Founding Team

Read AI was founded in 2021 by:

• David Shim - Co-Founder and CEO (former CEO of Foursquare, Founder/CEO of Placed)
• Robert Williams - Co-Founder and CTO (former Senior Director of Engineering at Foursquare and Placed)
• Elliott Waldron - Co-Founder and VP of Data Science (former VP of Data Science at Foursquare and Placed)

Problem and Market Fit

Read AI aims to solve the problem of unproductive meetings and inefficient workplace communications. With the growth of remote and hybrid work, there is an increasing need for tools that can enhance virtual meetings and asynchronous communications. Read AI fits into this market by providing AI-powered automation and insights to make meetings more efficient and productive.

Business Model

Read AI operates on a subscription-based SaaS model. They offer different pricing tiers:

• Free tier with limited features
• Pro tier at $29.75 per month
• Enterprise tier with custom pricing

The company generates revenue through paid subscriptions to their platform.

Funding and Runway

Read AI has raised venture capital funding, including:

• $21 million funding round announced in April 2024 (most recent)
• Initial funding from Madrona Venture Group in 2021 when the company was founded

The total amount raised and current runway are not publicly disclosed.

Competitive Landscape

Read AI competes in the productivity software and meeting intelligence market. Some key competitors include:

• Gong, Outreach, Chorus (sales enablement platforms)
• Otter (transcription and meeting notes)
• Clockwise, Calendly (scheduling tools)

Read AI aims to differentiate by offering a more comprehensive suite of AI-powered meeting and communication tools compared to point solutions.

Customers

While specific customers are not publicly listed, Read AI targets knowledge workers and teams across various industries who are looking to improve their meeting productivity and communication workflows. Their platform is designed for both individual users and enterprise teams.

Relevant News

• April 2024: Read AI raised $21 million in funding and expanded its product to include summaries for email and messaging in addition to meetings.
• Read AI was selected by Zoom as an “Essential App”, with premium features enabled for Zoom customers.
• July 2024: Launched direct integration with Salesforce
• June 2024: Launched integration with HubSpot

The company continues to expand its product capabilities and integrations to serve a broader set of use cases around workplace productivity and communication.