AI-Powered Noise Removal App Krisp Raises $9 Million Series-A
Mutes background noise in calls and helps remote workers have more productive business calls
Funding will be used to accelerate product development, make strategic technology hires and grow presence in US, Europe and Armenia
Active users grew 20-fold in 2020
Krisp, the AI-powered noise removal app that works with any conferencing, recording and podcasting service, announces a $9 million Series A-1 led by RTP Global, the early stage venture capital firm. The round also includes participation from existing investor Storm Ventures, the B2B venture capital firm focused on enterprise investments.
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Krisp delivers a best-in-class AI-powered noise removal app that enables users to remove background voices, barking dogs, room echoes and anything else that can disturb virtual meetings. It works with Zoom, Meet and 1000+ other apps out of the box. It is used by individuals as well as by more than 1,000 enterprises across the world. Krisp enables all its users to become more effective communicators in an increasingly digital first world. Krisp saw tremendous growth in 2020, with active users growing 20-fold. 2020 also saw Krisp named a Gartner Cool Vendor and receiving three awards: Forbes AI 50 Most Promising Startups, Forbes Cloud 100 Rising Star, and TIME 100 Best Inventions.
Krisp has been supporting the global workforce as it has transitioned to remote working en-masse. When people work from home, they have all kinds of distractions and inconveniences – background noise, room echo, etc. Krisp helps people be more flexible by automatically fixing these problems for them. For some of Krisp’s customers, such as call centers, this has allowed them to extend their Home Based Agents programs and be sure that their customers won’t be impacted by unpredictable acoustic conditions.
The funding will be used to accelerate product development and make a number of strategic hires to support product development, sales & marketing. Krisp will be growing its team from 95 to 170 by the end of this year, and will grow its AI audio research team from 25 to 45. This world-class R&D team is based in Armenia, home to Krisp’s founders, and will continue to iterate on Krisp’s proprietary technology and drive product iterations. Krisp will also expand its sales and marketing teams in the US.
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The company intends to add more features to make team communications more effective. These range from transforming people’s voice to be more confident to developing intelligent nudges to help them to use more subtle words while speaking.
Davit Baghdasaryan, CEO & co-founder of Krisp, said: “Our goal is to help the world communicate more effectively, regardless of where they join a meeting from. Krisp’s proprietary technology helps people listen actively and be critical thinkers in real time conversations despite the numerous distractions associated with remote working. This support from RTP Global and Storm Ventures will help us realise this mission. We’re also especially excited to leverage this fresh capital injection to grow our R&D team in Armenia, a lab we hope to turn into one of the largest of its kind in the world.”
Alex Pavlov, Managing Partner at RTP Global, added: “Since the first time we met Davit and Artavazd we were impressed with their vision to build products that enabled people to communicate better and more efficiently. We believe Krisp’s state of the art technology and incredibly talented team are a great foundation for further expansion of their product suite and continued growth of their customer base. We look forward to working with the team to help realize their vision and bring Krisp products to users all over the world.”
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