Total amount raised
$15 Millions
Latest funding date
12/1/2021
Location
Avoma has successfully raised significant funding over multiple rounds, with its latest being a Series A.
The platform offers AI-powered solutions for note-taking, scheduling, and coaching, attracting a diverse group of investors. Keep reading to explore the intricacies of Avoma's fundraising journey and the investors backing this innovative platform.
What Is Avoma?
Founded on August 1, 2017, Avoma is headquartered in Palo Alto, California. The company was established by Aditya Kothadiya, Devendra Laulkar, and Albert Lai.
Avoma specializes in providing an AI-powered platform designed to enhance remote meetings. Their solutions include transcription, AI-generated notes, meeting management, and collaboration tools.
With a team of 51-100 employees, Avoma continues to innovate in the realm of AI Meeting Assistants, making remote work more efficient and productive.
How Much Funding Has Avoma Raised?
- Seed Round
- Amount Raised: $3M
- Date: January 2020
- Lead Investors: K9 Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of their AI meeting assistant and expand their customer base.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: June 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage product development and initial market entry.
- Series A
- Amount Raised: $12M
- Date: December 2021
- Lead Investors: Headline
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development, expand the customer base, and grow the team.
Total Amount Raised: $15M
Current Valuation: Not publicly disclosed
Key Investors
- Headline
- Details: Headline is a global venture capital firm that led Avoma's Series A funding round. They focus on investing in innovative technology companies.
- Investment Focus Areas: Technology, innovation, startups.
- Notable Investments: Bumble, Sonos, Farfetch.
- Storm Ventures
- Details: Storm Ventures is an early-stage venture capital firm that participated in Avoma's Series A round. They specialize in enterprise software investments.
- Investment Focus Areas: Enterprise software, SaaS, technology.
- Notable Investments: Marketo, MobileIron, Talkdesk.
- Global Founders Capital
- Details: Global Founders Capital is a venture capital firm that invests in technology-driven companies. They participated in Avoma's Series A funding round.
- Investment Focus Areas: Technology, early-stage startups, innovation.
- Notable Investments: Facebook, LinkedIn, Slack.
- Zoom Apps Fund
- Details: Zoom Apps Fund invests in companies that build applications and integrations for Zoom. They participated in Avoma's Series A funding round.
- Investment Focus Areas: Zoom integrations, communication tools, productivity apps.
- Notable Investments: Not publicly disclosed.
- K9 Ventures
- Details: K9 Ventures is a seed-stage venture capital firm that focuses on technology startups. They were a lead investor in Avoma's seed round.
- Investment Focus Areas: Early-stage technology, startups, innovation.
- Notable Investments: Lyft, Twilio, Carta.
What's Next for Avoma?
Avoma stands at the cusp of significant growth, driven by the increasing reliance on remote and hybrid work environments. The company aims to expand its team and enhance its AI meeting assistant, addressing the inefficiencies in current meeting workflows. With a $12M Series A funding, Avoma plans to quadruple its team size and scale its go-to-market functions, positioning itself to capture a larger market share.
Future fundraising opportunities seem promising as Avoma continues to grow and innovate. However, the company may face challenges such as competition from other AI meeting tools and the need to maintain seamless integration with existing platforms. Ensuring the accuracy and efficiency of AI-generated insights will be crucial for sustaining its competitive edge.
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