The influx of capital comes on the heels of impressive growth for Read AI, which has reportedly added over 100,000 new users since its previous funding round, maintaining an impressive 81% retention rate among these users. The company’s co-founder and CEO, David Shim, noted that this growth reflects a broader trend in the adoption of AI tools for workplace productivity.
In conjunction with the funding announcement, Read AI introduced a new product: Read AI for Gmail. This innovative tool transforms Gmail into a productivity hub by providing smart AI-generated summaries, contextual insights from past communications, and automated email responses. The extension is designed to streamline email management by integrating relevant information from meetings and messages across various platforms such as Slack, Zoom, and Microsoft Teams. For lengthy email threads, it generates concise summaries that highlight key points and action items.
Read AI aims to create a “copilot everywhere” experience that encompasses not just meetings but also emails and messaging threads. Shim emphasized that the company’s vision is to connect various communication channels seamlessly, enhancing user productivity across the board. He stated, “In the age of AI assistants and agents, Read AI has gone from upstart to incumbent with a 720% increase in active users in the last 12 months.”Brad Twohig, Co-Founder and Managing Partner at Smash Capital, expressed confidence in Read AI’s potential within the rapidly evolving landscape of productivity tools powered by generative AI.
He highlighted that productivity is poised to be one of the largest opportunities for AI by 2025.As part of its growth strategy, Read AI plans to expand its workforce significantly, aiming to double its headcount from about 40 to 100 by the end of the first quarter of 2025. The company continues to focus on developing tools that unify communications and enhance efficiency in digital interactions across various platforms.