License by Zoom establishes AISense as leader in speech technology for verbal communications.
Today we announced the completion of AISense A-round of funding. The $10 million round was led by Horizons Ventures, bringing total funding since our inception to $13 million. We also disclosed that we are powering transcription for Zoom Video Communications, a feature that was announced at their user conference, Zoomtopia, in September. We plan to use the funds raised to build out our vision for Ambient Voice Intelligence and to add to our awesome team of engineers and researchers.
We decided to work with Horizons because of their experience in AI and their willingness to bet early on big ideas. Horizons previously led investments in Viv, DeepMind and Sentient Technologies; and was an early lead investor in Facebook. New investors in this round include Bridgewater Associates, i-Hatch Ventures, MetaLab, the design firm behind Slack, Jay Markley, who was Chairman of BroadSoft which was recently acquired by Cisco, and Boston investors Jim Pallotta and Stu Porter.
All of our seed investors participated in this round: Tim Draper through Draper Associates and Draper Dragon, Dave Morin through Slow Ventures, David Cheriton (the Stanford professor who wrote the first check to the founders of Google), SV Tech Ventures, Danhua Capital, and 500 Startups.
While we had only been building our core technology for fourteen months we beat a bunch of incumbents to secure Zoom’s business. We won because of the strength of our core speech recognition, the capability to deploy a solution that scales to the massive volume on the Zoom platform, and our ability to quickly iterate to meet their specific needs.
To fulfill on the ultimate promise of what we call Ambient Voice Intelligence we will launch our own direct to end user product in 2018. We are building technologies to derive searchable notes, succinct summaries, and actionable insights for everyday voice conversations. We plan to double the size of our engineering and technology teams over the next year to fulfill on our audacious vision. If you are serious about wanting to push boundaries in the application of AI to solve a fundamental problem shared by people in organizations of all types check out our open positions.