Avoma raises $12M to build the most comprehensive Meeting Lifecycle Assistant

Our progress so far

Since we founded Avoma in 2017, our mission has been to amplify the potential of knowledge professionals so they can achieve their goals faster.

As a first milestone, in 2019, we launched our comprehensive AI meeting assistant that automates preparing agendas, transcribing meetings, summarizing notes, and providing actionable coaching insights for all meeting participants.

Since our launch, we have helped over 300 customers and tens of thousands of professionals save multiple hours per week with AI-generated notes and collaboration and improve meeting outcomes by 30% with actionable insights.

Our excitement about the future

But so far, we have probably accomplished a small percentage of our vision. Our goal is to not only assist you in note-taking and CRM data entry, but also to help you research attendees, get real-time coaching recommendations, send a follow-up calendar invite, and more.

That’s why we’re building the most comprehensive Meeting Lifecycle Assistant.

To accelerate our product development and bring this solution into the hands of thousands of customers, I’m excited and humbled to announce that Avoma has raised $12M in Series A funding.

The investment was led by Headline, with participation from Storm Ventures, Global Founder Capital, Zoom Apps Fund, Operator Partners, Industry Ventures, along with its existing investors, K9 Ventures, Dragon Capital, and Twin Ventures.

I’m extremely grateful to our incredible employees, investors, advisors, and customers who put their faith in us and continue to support us in this ambitious journey.

Why do you need a Meeting Lifecycle Assistant?

With the growing trend of remote and hybrid work, video conference meetings are the backbone of getting things done. But they still have to juggle between 4-5 applications to prepare for a meeting, take notes, participate, and follow through with participants with action items.

With so much context switching and information loss in disparate tools, knowledge professionals spend over 20% of their time on low-value admin tasks. And that’s why there is an urgent need to streamline and automate workflows across the meeting’s entire lifecycle.

How is Avoma unique and different?

There have been many attempts to solve the meeting inefficiency problem, but most tools take a very siloed approach.

There are "meeting management" tools that help in agenda preparation and note-taking, but it's still manual note-taking work that people don't have time for or hate doing.

Then there are "transcription" tools that automate getting the transcript of a meeting but don't provide summarized notes or actionable insights and don't integrate very well with people's existing workflows.

And then, there are "conversation intelligence" tools, which analyze sales meetings with AI, but they only focus on the "sales coaching" use case. They are not usable by other functions in the company or for other kinds of meetings, such as recruiting interviews, 1:1s, all hands, etc.

What makes Avoma unique compared to other siloed offerings in the market is that it's the only all-in-one tool to bring meeting management, AI assistant, and conversation intelligence functionalities into one comprehensive solution to benefit everyone in the company – without having to purchase 3-4 different tools.

Ultimately, we're building a new System of Collaboration for meetings which is intelligent from the ground up. Avoma not only automates tasks instantly but is also flexible enough to integrate with your existing tools and automate custom workflows.

Avoma helps individuals be 10x more productive and effective and helps organizations be 10x more aligned and efficient in their execution.

Join us in our future plans

This Series A funding will enable us to grow and scale the right way in 2022 and beyond. We will be quadrupling our 15 person team, which is currently distributed across US and India.

We will be hiring across every department to bring on the best talent and give them an environment to do the best work of their lives.

We will be doubling down on our world-class product & engineering teams to build:

the most intuitive and easy to use experience
the most advanced AI to improve the accuracy and efficiency of our assistants and insights
the most flexible platform to integrate with the tools you use every day
the most reliable and scalable infrastructure

At the same time, we will be aggressively growing our go-to-market teams to build:

the most value-centric content and resources to educate the world about the future of work
the most buyer-centric purchase experience with Product-led and Sales-assisted motion
the most customer-centric onboarding, implementation and success experience

And last but not least, we would not be able to achieve the above goals if we didn't invest in our people and culture to build:

the most employee-centric work environment with a flexible and transparent culture
the most fair compensation and career progression programs
the most efficient and aligned execution across cross-functional teams

If you're passionate about building one of the most intelligent, intuitive and customer-centric solutions that would touch millions of people, we would love for you to join us in our mission.

A big thank you! 🙏

It’s not every day you get to make an impact in the world along with an amazing team, customers and investors. To everyone, with gratitude from the bottom of my heart—thank you.