Fireflies.ai is a SaaS tool for automated notes from online meetings. Automatically record, transcribe and collaborate across your meetings
Started in July 2016 by Krish Ramineni and Sam Udotong
They raised a total of $5.1M after recently raising $5M dollars in their Seed Round of funding.
They have 21 employees and are based in San Francisco, CA.
Fireflies.ai is riding the wave of remote work. It is doing this by hitching its wagon to the video conferencing industry. A close competitor of it is Gong.io. I wrote about Gong.io a while back. The best way to think about how this industry is growing is to look at Zoom’s stock.
It is also important to dive a little deeper into the fact that Fireflies.ai is going to be competing with Gong.io. This is a market that is growing fast but it is by no means a wide open market. Gong does a great job marketing itself in this industry and will be hard to compete with. They also have a head start in terms of brand awareness and probably total customers.
All of that said, Fireflies.ai is approaching the market differently than Gong.io. They have a freemium option which Gong does not have. I believe this is a smart move and a big reason Zoom saw the success it did during this time.
Long story short, we will see what happens in this market. It is important to note, it is not like a social network, it is not a winner take all atmosphere. Gong and Fireflies can both exist and build very big businesses!
Krish Ramineni is the CEO of Fireflies.ai and Sam Udotong is the CTO of Fireflies.ai. The first and most obvious thing you will notice about this leadership team is that they are young. They are also not very experienced running businesses based on their LinkedIn backgrounds. That said neither was Mark Zuckerberg and look where he is now.
The company is too new to have much on Glassdoor or any other review sites. That said, the reviews of Sam on Linkedin leave a good impression. It seems he is a pretty smart coder.
What stood out to me even more about this review is Sam did not leave one for Jaco so it doesn’t strike me as a “you leave me one, I’ll leave you one” review.
Fireflies.ai doesn’t share their revenue but one of their investor’s Zach Coelius recently said on the This Week in Startups Podcast that “they are growing like a rocketship!”. This means very little in regard to their exact revenue but like Zoom, I imagine the growth is significant for them.
I also saw a recent article state “In the last few months, driven in part by the Covid-19 pandemic, Fred (the Fireflies.ai bot) has sat through millions of minutes of meetings involving more than half a million people.” This is significant in comparison to this tweet from one of the founders less than a year ago.
A part of this growth is due to something that Gong.io doesn’t allow, self-serve. I would bet a good portion of Fireflies.ai’s current clients have never spoken with someone inside the company.
If they keep up this good work they could one day create a very interesting company. It seems they have a good product, the key is to just keep adding rocketfuel.
Another key is to continue to make the product better.
All of that said, If I was going try to get a job here, I would reach out to:
The CTO or the CEO. They are the cofounders and both very invested in the success of this business. Below are their contact details.