Avoma puts new capital to use making meetings work smarter
- ByStartupStory | December 23, 2021
Taking notes during a meeting is an art form, requiring multitasking skills for listening, typing and coming up with intelligent things to say while you do the other two. Not to mention the three or four different applications we use to prepare, run and follow-through with meetings. Avoma thinks we are doing too much and using too many apps during meetings and something is bound to get lost. It developed software that automates meeting workflows and makes nearly any kind of conversation more actionable.
Today, the Palo Alto-based company announced $12 million in Series A funding in a round led by Headline, with participation from Storm Ventures, Global Founder Capital, Zoom Apps Fund, Operator Partners, Industry Ventures and existing investors K9 Ventures, Dragon Capital and Twin Ventures. The new round gives the company $15 million in total funding.
Founded in 2017 by Aditya Kothadiya, Devendra Laulkar and Albert Lai, Avoma developed an artificial intelligence meeting assistant that has templates for meeting agendas and takes both notes and video, transcribes everything in real time, summarizes the notes and calls out actionable insights for participants in the agenda.
CEO Kothadiya was previously with [24]7.ai, a customer acquisition and engagement software and services provider, which acquired his company, Shopalize, in 2013. He says Avoma gives people a few hours of their time back per week, and on average, improves meeting outcomes by 30%.
“As a product leader, I was constantly in meetings and spent time taking notes,” he said. “With every new product, I would hand it over to the customer or product market team, but would find that during meetings, I was not listening to what was going on because I was taking notes. We wanted to apply technology to this so we would make sure nothing was lost.”
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