Artificial intelligence startup Supernormal, which received meeting notes, received an investment of 10 million dollars. Balderton led the investment round, with Acequia Capital and byFounders VC in attendance. The total investment amount of the venture reached 12.9 million dollars with this new investment.
Details of the venture
Founded by Fabian Perez and Colin Treseler, Supernormal was produced as a solution to the duo’s need to take notes in long meetings. Powered by OpenAI’s GPT-3 model, the platform can transcribe all speeches throughout the meeting, while dividing meeting notes into categories such as “presentation”, “lead customer conversation” and “interview”. Let’s add that the product integrates with Google Meet, Microsoft Teams, Zoom and other conferencing platforms.
Supernormal can turn meeting notes into automatic actions by distinguishing details such as client goals and objectives. These actions include sending follow-up emails, scheduling and promoting.
The tool’s self-learning capability allows users to improve the quality of notes while editing them. However, it should be noted that users can easily delete any data for data privacy reasons.
Income model and competitors of the startup
Supernormal’s clients include more than 250 companies, including well-known companies such as Netflix, Airbnb, and Snapchat. Within the scope of these companies, Supernormal serves more than 50 thousand users. It charges Supernormal users less than $1 per meeting.
On the other hand, using the OpenAI API is quite costly. A 30-minute meeting is between 3,000 and 6,000 words long when written down. The most comprehensive GPT-3 plan costs $0.02 per 750 words.
Supernormal’s ancestors include Otter, Headroom , tl;dv , Xembly , and Fireflies.ai . The company states that it has a much more favorable pricing policy than the solutions on the market.
Goals of the initiative
Supernormal will use the new investment for product R&D and team growth. The team, which currently consists of 5 people, is expected to increase to 25 people by the end of 2023. The company aims to offer end-to-end workflow solutions.