# Read AI

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/read-ai

- Industry: Software
- Headquarters: Seattle, US
- Website: www.read.ai
- Total disclosed funding: $81M
- Latest round: Series B (Sep 3, 2024)
- Investors on record: 4

## About

Based in Washington, US, and founded in 2021 by co-founders David Shim (CEO), Robert Williams, and Elliott Waldron, Ph.D., Read AI, Inc. operates as a provider of productivity software solutions, offering AI-generated summaries, transcripts, and actionable data to improve the effectiveness of communication across emails, messaging, and meetings. In October 2024, Read AI, Inc. raised USD 50 million in series B funding led by new investor Smash Ventures, with participation from returning investors Madrona Venture Group and Goodwater Capital.

The company provides a productivity AI platform to improve workplace communications. The platform services include meeting summaries, email and messaging summaries, and playback of meetings. Moreover, the firm offers solutions such as intelligent scheduling, integrations with various platforms, and speaker coaching. Additionally, the company also provides services such as multi-language transcription and integration with productivity tools.

The company generates its revenue through subscription-based pricing for its platform packages. The free plan provides basic features, including up to five meeting reports per month and limited transcription. The Pro plan, priced at USD 19.75 per license per month or USD 15 per month with annual billing, offers unlimited meeting reports, advanced team reporting, and integrations. The Enterprise plan, priced at USD 29.75 per license per month or USD 22.50 per month with annual billing, includes additional features like meeting playback and premium support. The Enterprise+ plan, priced at USD 39.75 per license per month or USD 29.75 per month with annual billing, provides enhanced security features such as SSO and SAML, domain capture, and unlimited meeting duration.

 The company plans the October 2024 funding to expand its manpower in the engineering, data science, and business departments.

## Funding rounds

- Series B, Sep 3, 2024, $50M — Madrona Venture Group, Goodwater Capital, Smash Capital
- Series A, Feb 15, 2024, $21M — Madrona Venture Group, Goodwater Capital
- Seed, Sep 29, 2021, $10M — Madrona Venture Group, Pioneer Square Labs

## Investors

- Madrona Venture Group (https://capitalatlas.ai/funds/madrona-venture-group) — Seed, Series A, Series B
- Pioneer Square Labs (https://capitalatlas.ai/funds/pioneer-square-labs) — Seed
- Goodwater Capital (https://capitalatlas.ai/funds/goodwater-capital) — Series A, Series B
- Smash Capital (https://capitalatlas.ai/funds/smash-capital) — Series B