AI Startup Read AI Raises $21M, Expands Feature Set

Artificial intelligence startup Read AI has raised $21 million in new funding from Goodwater Capital and Madrona Venture Group. The company has expanded its feature set by adding AI-generated recaps of email conversations and messaging threads. This latest announcement sets the stage for a new phase of growth at Read AI, with plans to increase their team size and differentiate themselves from competitors such as Microsoft, Google, and Zoom. The new email and messaging recaps, called 'Readouts,' will be available as a free service, working across Gmail, Outlook, Teams, and Slack messages. Additionally, Read AI's technology can identify and summarize a topic or conversation across multiple messaging threads. The company's revenue doubled between December and February, and monthly active users increased 12-fold over the past year. With a total funding raised exceeding $32 million, Read AI continues to innovate, providing new features and expanding its team. The company was founded by David Shim, Elliott Waldron, and Rob Williams, who previously led location analytics startup Placed, later acquired by Snap for over $200 million in 2017.