Avoma Reels In $12 Million Series A

<p><strong>PALO ALTO<&sol;strong> &&num;8212&semi; Avoma&comma; a provider of a Meeting Lifecycle Assistant&comma; has raised &dollar;12 million in a Series A round&period; The investment is led by Headline&comma; with participation from Storm Ventures&comma; Global Founder Capital&comma; the Zoom Apps Fund&comma; Operator Partners&comma; Industry Ventures&comma; along with its existing investors&comma; K9 Ventures&comma; Dragon Capital&comma; and Twin Ventures&period;<&sol;p>&NewLine;<p>With the growing trend of remote and hybrid work&comma; video conferencing meetings are the backbone of how people get things done&period; But they still have to juggle between 4-5 applications to prepare&comma; run and follow-through with their meetings&period; With so much context switching and information loss&comma; there is an urgent need to streamline meeting workflows&period;<&sol;p>&NewLine;<p>Founded in 2017&comma; Avoma offers a comprehensive AI meeting assistant that automates important tasks throughout a meeting&&num;8217&semi;s lifecycle&comma; including preparing agendas&comma; transcribing meetings&comma; summarizing notes&comma; and providing actionable coaching insights for all meeting participants&period;<&sol;p>&NewLine;<p>Using Avoma&comma; people are saving a few hours per week with AI-generated notes and collaboration&comma; and improving meeting outcomes by 30&percnt; with actionable insights&period;<&sol;p>&NewLine;<p>What makes Avoma unique compared to other siloed offerings in the market is – it&&num;8217&semi;s the only all-in-one tool to bring the meeting management&comma; AI assistant&comma; and conversation intelligence functionalities in one comprehensive solution so that it benefits everyone in the company without having to purchase 3-4 different tools&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Ultimately&comma; we&&num;8217&semi;re building a new System of Collaboration for meetings – which is intelligent from the ground up to automate many tasks out of the box for you&comma; but is also flexible enough to integrate with your existing tools and automate custom workflows&comma;&&num;8221&semi; added Aditya&period;<&sol;p>&NewLine;<p>In response to a growing interest in AI-based meeting assistants&comma; Avoma says it has experienced over 400&percnt; revenue growth each year over the past three years&comma; and currently has over 300 customers&period; Notably&comma; nearly half of Avoma’s growth can be attributed to customer referrals and word of mouth&period; This Series A funding will enable Avoma to quadruple its 15 person team in the next 12 months across North America and India to support the strong customer demand&period;<&sol;p>&NewLine;