Generative AI is the buzzword in the tech industry right now. No wonder – the venture capital firm Sequoia not so long ago and expect Generative AI, which includes artificial intelligence that can create text, art, and much more prompts, could generate trillions of dollars in economic value in the long run. Is this just an optimistic musing for a company invested heavily in the space? Maybe. On the other hand, generative AI has proven itself Work taste.
supernatural It hopes to demonstrate the value of generative AI through its technology, creating meeting notes through integration with Google Meet, Microsoft Teams, Zoom, and other conferencing platforms. There are plenty of vendors in the meeting note copy space, which has exploded during the pandemic as work-from-home settings become the norm. But Supernormal sets itself apart by extracting key details from meetings such as actions and decisions, relying on OpenAI’s word-processing AI to do the summarizing work.
It is a strong sales arena. Supernormal announced today that it has raised $10 million in a funding round led by Balderton with participation from Acequia Capital and Founders VC. The new cash brings the company’s total earnings to about $12.9 million, which co-founder and CEO Colin Trezeler says is going toward product research and development and hiring.
Currently, Supernormal has a small team of 5, which is expected to grow to 25 by the end of 2023 – mostly in engineering, marketing and [customer] Success,” Treseler told TechCrunch in an email interview. “The new funding will be used to further the mission of delivering end-to-end workflow solutions based on foundational meeting data and to develop next-generation tools that deliver actions and insights from conversations across the enterprise.”
Treseler co-founded Supernormal with Fabian Perez, whom he met while working for a Balderton-funded company 13 years ago. (Treseler also held product manager positions at Meta and was Chief of Personnel in Klarna’s risk management department, while Perez was GitHub’s design director.) In 2020, the two spent two weeks brainstorming what to build next. After long sessions, they realize that they don’t have any notes from the conversations, and that well-documented discussions will be crucial to their success.
“On an enterprise level, our meetings are an important part of our work product that until now has been fleeting or hard to consume — who re-watched an hour-long meeting when key feedback mattered?” said Treseller. “We have heard in particular that for product managers, team leadership, and customer-facing teams, this product is especially transformative because it helps them easily track key updates and milestones.”
To this end, the Supernormal platform, powered by OpenAI’s GPT-3 Sample, writes meeting and call notes across typical categories such as “Presentation,” “Client Discovery Call,” and “Interview.” Supernormal extracts details like client goals and objectives, Treseler explains, and after a meeting it tries to automate work items like follow-up emails, scheduling, and making introductions.
Supernormal is self-learning – as users edit their notes, they improve the quality of the feedback they receive on their next call. But they can also delete any stored data if they choose to do so for privacy reasons.
“With contract companies, team members will be under pressure to consistently meet deadlines and demonstrate value. A tool like Supernormal supports them at every stage of their work and takes that managerial pressure off them,” Treseler said. “It also takes the pressure off employees to be hyper-communicative and transparent, with Supernormal easily enabling that — helping to increase productivity and keep everyone connected regardless of location and time zones.”
And here I should point out that Supernormal abilities are not Excellent Novel, no pun intended. beaver, a competitor, recently rolled out AI-generated meeting summaries. To jot down and highlight important moments in meetings, it’s there, too HeightAnd TL; dvAnd exemple And fireflies.
But Treseler claims Supernormal is more affordable than most solutions on the market—less than $1 per meeting, on average—and it already has a growing paying customer base. 50,000 users across more than 250 organizations including Netflix, Airbnb and Snapchat are actively using the platform, he says,
Supernormal’s trick is to achieve profitability due to the high cost of relying on the OpenAI API. The most comprehensive GPT-3 plan costs About $0.02 per 750 words, and that sounds like a lot – even you I advise A 30-minute meeting transcript is between 3,000 and 6,000 words.
The other most existing business challenge is the desire of remote workers to move away from frequent meetings. in July 2022 survey Of RedRex, workers said they spend an average of 31 hours per month in unproductive meetings; 71% believed their work time was often wasted due to unnecessary or canceled meetings. Furthermore, more than half of the respondents said they actively want to reduce the amount of time they spend in virtual meetings.
Treseler admitted as much — and was loath to share Supernormal’s revenue numbers. But he believes the growth is sustainable.
“As more companies become hybrid or fully remote, Supernormal has become an essential tool for distributed teams,” Treseler continued. “We’ve seen exponential growth as teams try to figure out the hybrid or distributed model. Once a team member is distributed, there’s a need for a meeting documentation tool.”