Recall.ai's API and infrastructure allow enterprises to deploy new AI-powered products and features rapidly and cost-effectively. The startup, which is compliant with SOC2, GDPR, CCPA, and HIPAA, charges per hour of audio and video processed through its APIs. In less than two years, Recall.ai has grown its annual revenues from zero to several million dollars and now has more than 300 enterprise customers. The Series A round was led by Ridge Ventures, with participation from Industry Ventures, Y Combinator, IrregEx, Bungalow Capital, Hack VC, and other existing investors.
Key takeaways:
- Recall.ai, a developer infrastructure startup backed by Y Combinator, has raised a $10 million Series A funding round, bringing its total raised to over $12M. The startup provides a unified API that allows companies to access raw data from virtual meeting platforms.
- The startup plans to use the new capital to grow its team and build integrations with more data sources. It currently has nine staff and expects to grow its team to more than 16 by the end of this year.
- Recall.ai was launched in 2022 by David Gu and Amanda Zhu, who both attended the University of Waterloo before dropping out to build the startup. The company aims to respond to the shift to remote work worldwide and the boom in generative AI.
- The startup is compliant with SOC2, GDPR, CCPA and HIPAA regulations and does not have any military or government contracts. It earns revenue by charging per hour of audio and video processed through its APIs and has grown annual revenues from zero to several million dollars in less than two years.