#23: Raising $19 Million in Funding After 5 Pivots For His AI Startup w/ Krish Ramineni, Co-Founder and CEO of Fireflies AI
How can you capture the knowledge buried inside conversations and convert them into actions?
After graduating early from UPenn in 2015, Krish Ramineni dove headfirst into Microsoft as a Product Manager. Krish enjoyed his job and he was learning a lot but he realized that he was making incremental improvements to existing products instead of being truly innovative and building new products. When graduate school at Cambridge was right around the corner a year later, a fateful meeting with Sam Udotong (current Co-founder and CTO) led him to tinker around. Together they build the foundation for Fireflies AI: an AI note-taking assistant for your meetings.
Fireflies raised $14M in their series A round and $5m in their seed round. Krish Ramineni and Sam Udotong recently made in on Forbes 30 Under 30.
Fireflies went through at least 5 pivots before finding product-market fit and Krish and Sam both lives on pizza and soylent for over a year before building something that could attract the attention of investors.
❗ What PROBLEM is Fireflies AI solving?
Approximately 40% of our time is spent in meetings daily, but that knowledge is rarely captured in an efficient and reusable manner. We also speak an average of 150 words/minute, but write approximately 50 words/minute. Meetings are often not easily transferrable to output.
Moreover, how do you extract value from an audio recording or transcript? What if you want to pluck only the action items, important dates, or metrics discussed? Whether you’re preparing to sit down with competitors, investors, or your internal team, extensive manual effort is required to condense a meeting into digestible, high-value morsels.
🛠️ What is Fireflies AI’s SOLUTION?
Imagine summarizing an hour-long meeting in five minutes by using an AI that can guess which parts of the conversation are the most important.
Fireflies AI is an AI meeting assistant that joins your meetings across Zoom, WebEx, Skype, Google Meet and all other video conferencing platforms. Not only does it take notes, summarizes the meeting and transcribes it at extremely high accuracy levels, it creates a knowledge base of meeting content. Their AI tool intelligently extracts value out of the recordings, allowing you to easily navigate the most crucial parts of the phone call.
Moreover, with their integrations and workflows, the assistant automatically inputs information into other applications and systems and even can send recaps to Slack. This automates tedious post-meeting work so employees can focus their energy on curating rich and meaningful conversations.
- Krish Ramineni's LinkedIn
- Krish Ramineni's Instagram
- Krish Ramineni’s Twitter
- Fireflies' Website
- Fireflies' LinkedIn
- Fireflies' Instagram
- Fireflies' Twitter
Visit inventingthefuture.ai for the full show notes, which includes a full transcription of the conversation, a link to the YouTube Video interview, the top 3 value bombs, people & resources mentioned, and more!
This podcast is hosted by Julian Alvarez, the Co-Founder & CTO at Vize and a Software Engineer at Facebook.