Business Wire.- Fathom, the leading AI Notetaker, today announces that its launch and $4.7 million in seed funding from a coalition of early Zoom investors (Maven Ventures, Bill Tai, Matt Ocko), Silicon Valley insiders (CEOs of Reddit, Twitch, Cruise, Mercury, People.ai, Snapdocs, Shogun), early-stage VC firms (Character, Active Capital, Global Founders Capital, Rackhouse.vc, Soma Capital), and Zoom itself through its newly formed Zoom Apps Fund.
Developed exclusively for the new Zoom App Marketplace, Fathom is currently the #1 application with over 70K users on the waitlist. It is already classified as a High Performer on the review site G2 with a 4.9 rating and was recently selected as Product of the Day on Product Hunt.
Founded in 2020 and a member of Y Combinator (Winter ‘21), Fathom was created to eliminate the need for time-consuming and distracting note-taking during business calls. The free Fathom application allows individuals and teams to effortlessly record, transcribe, and annotate Zoom calls on the fly and generate a comprehensive summary of key insights, notes, and action items that can be automatically shared across CRM platforms and Slack channels. With Fathom, teams can engage individuals that aren’t on the call, allowing for real-time collaboration. For example, Fathom can route a video clip of a customer’s technical question to a technical resource who is not on the call as it happens, saving time and resources.
“We envision a future not only free of the tedium of note-taking but one where teams, especially hybrid and remote ones, are able to have unprecedented visibility into what customers are saying even as they say it,” said Richard White, CEO and Founder of Fathom.
“Zoom has already transformed our lives and the way we do business – now that we live on video, the need and opportunity for Fathom is obvious. The Fathom team is incredibly strong and experienced, and they’re solving a key problem that Zoom customers face on a daily basis and will change the way people experience their business calls for the better. Being one of the first deeply integrated Zoom Apps opens the door for massive growth,” said Jim Scheinman, early Zoom investor and Founding Managing Partner at Maven Ventures.
Although anyone who uses Zoom can benefit from the app, the company has quickly carved out a niche with power Zoom users in Sales and Customer Success teams. Through its integrations with leading CRMs (Salesforce, Hubspot, Close.com), Fathom automates post-call data entry for those teams by creating auto-generated call summaries and syncing them to the right records in their CRM.
“The best part about Fathom is that it converts a 30 or 45 minute meeting into an easily digestible summary without much effort or distraction. Even better, the meeting summary and recording is automatically added to the CRM. At Close, we look to partner with products and services that enable salespeople to be their most productive. Fathom and its Close integration have been a big hit with our team internally, and we look forward to partnering together on getting it into as many of our customers’ hands as possible,” said Nick Persico, Director of Sales at Close.
And unlike other call recording solutions, the user is in complete control: all recordings created with Fathom are 100% private and can only be seen if you share your recordings or highlight clips with others.
With the new capital, Fathom will expand its go-to-market team and launch new integrations with sales, customer success, and productivity tools.