YC-Backed Recall.ai Secures $10M Series A Funding to Empower Companies in Leveraging Virtual Meeting Data

Generative AI Investment Surge: Recall.ai Secures $10 Million Series A Funding

In an exciting development for the generative AI landscape, Recall.ai, a startup focused on developer infrastructure, has raised $10 million in a Series A funding round, elevating its total funding to over $12 million. Backed by Y Combinator, Recall.ai is poised for growth as it enhances its capabilities.

Recall.ai provides a unified API that allows businesses to access raw data from various virtual meeting platforms, including Google Meet, Microsoft Teams, Slack Huddles, and Zoom—even those without APIs. This rich video and audio data enable companies to create AI-driven applications like sales coaching tools, meeting notetakers, and daily standup bots.

With the new funding, Recall.ai plans to expand its team and integrate with more data sources. Co-founder and CEO David Gu revealed that the two-year-old startup, currently with nine employees, anticipates growing to over 16 by year-end.

Both Gu and co-founder Amanda Zhu dropped out of the University of Waterloo to pursue their entrepreneurial vision. “I studied software engineering, while Amanda focused on computer science and business,” Gu shared. “We chose to leave school at 19 to launch our startup, including our time with Y Combinator.”

Before founding Recall.ai in 2022, Gu and Zhu developed a real-time transcription tool for video conferencing and gained valuable experience in integrating video conferencing platforms and their infrastructure.

Their mission focuses on two significant trends: the global shift to remote work and the meteoric rise of generative AI. After observing the integration challenges faced by others, they aimed to provide a solution. “Companies are eager to incorporate AI into their offerings, and conversations generate a massive data set ripe for AI applications,” Gu noted.

“In 2022, a surge of companies began utilizing large language models to process video conference data, yet they all encountered the same integration challenges we successfully addressed,” Gu explained. “Building this infrastructure from scratch can take over a year of engineering hours.”

Once set up, businesses face further complexities. Hosting requires extensive servers—hundreds or thousands—to manage data processing, along with a skilled engineering team for monitoring, scaling, and maintenance.

Using Recall.ai's API, enterprises can bypass the burden of developing their own infrastructure. This capability allows them to rapidly and affordably launch new AI-enabled products and features. Gu likened their services to cloud computing platforms like AWS, which facilitate scalable web applications.

“Recall.ai operates as the foundational infrastructure for any company aiming to leverage AI in conversations,” he asserted. “We don’t have any direct competitors; our service uniquely fills the developer infrastructure niche needed to capture and process meeting data.”

On the compliance side, Recall.ai adheres to SOC2, GDPR, CCPA, and HIPAA regulations, ensuring robust data protection without any military or government contracts. Audio and video recordings are retained for a maximum of seven days before automatic deletion, although users can delete data immediately if desired.

Revenue is generated through hourly charges for audio and video processing via its APIs. Remarkably, in less than two years, Recall.ai has scaled annual revenues from zero to several million, currently serving over 300 enterprise clients that collectively represent millions of users.

Over the last year, the company has experienced a tenfold revenue increase, further solidifying its strong market position. Ridge Ventures led the Series A round, joined by Industry Ventures, Y Combinator, IrregEx, Bungalow Capital, Hack VC, and other existing investors.

Recall.ai Empowers Companies to Maximize Virtual Meeting Insights.