Startup Business Name: Reason8
Tagline: Turn Conversations into Summaries.
Founder/Founders: Vlad Belyaev, Sergey Plis
In a few sentences, tell us what your startup is all about!
Reason8 is an AI-powered service for automatic note-taking and preparation of summaries for in-person business meetings. We use multiple smartphones and an AI-based approach to boost the quality of speaker separation and drafting of meeting summaries. We are actively working on advanced summarization, collaboration features for teamwork, and integrations with project management services and communication tools. We look towards radically improving the effectiveness of your meetings.
When was your startup founded? And what stage is your startup currently at?:
May 2016, we are in public beta with Reason8 and commercialized our first product http://autofaq.ai
Let us know a bit about your team, who are the key team members and what is their role?:
Our co-founder, President, and Research Chief Dr. Sergey Plis Ph.D. in CS, 50+ peer-reviewed papers in ML, 15+ years experience in research (ML DL AI and signal processing) and guiding R&D. Worked at Los Alamos National Lab, The Mind Research Network, ex-CEO Datalytic Solutions.
We also have an amazing team of R&D engineers – all winners of hackathons and international competitions as 1st @ NIPS 2017 ConvAI http://convai.io/ and 3rd @ NIPS 2017 Learning to Run https://goo.gl/VwkhQ2.
If applicable, what is your growth like? And what milestones has your startup achieved so far?:
We launched the Android version and the Web client in May ’18 on Product Hunt. We beat one of four Google products and got #5 Product of the day (first 3 were from Google I/O)
We won Best New Mobile app award https://bestmobileappawards.com/app-submission/reason
And got to the TOP-3 finalists of the “Mobile Industry Award” as the Best Distributor of Emerging Technologies.
Why did you choose this particular idea and concept to build your start-up on?:
This inspired us to start custdev talks within various verticals (consultants, journalists, HR managers, coaches, project managers), and launch the landing page http://reason8.ai/. We conducted interviews with 35 potential users (that was the initial period – by now we’ve interviewed hundreds), completed an ad campaign for the landing page, surveyed 40 people online, got 93% conversion rate over 45 interviewed journalists, and continue to receive requests with “when can I get the beta?”
The main takeaways:
– “If it was cheap, I’d transcribe everything”
– There is huge potential for your app in corp. meetings of 3-4-5 people
Two main use cases:
– share recorded info with others and
– extract and retain all critical points of a conversation
Top priorities for our summarization engine: (a) tasks, (b) ideas, (c) decisions
Do you have any customer feedback on your product and/or service that you could share?:
To make a meeting summary one needs a usable transcript/meeting notes. Attribution of phrases to speakers is a requirement for any usable transcript. Without speaker separation – a transcript is extremely difficult to parse and impossible to further use for summaries.
Given the current state of the art in algorithms and hardware, it is impossible to get a usable transcript from a single microphone for in-person meetings. Reliable algorithms for mono-aural separation are still not available and a single microphone is unable to capture everyone not right next to it.
A usable transcript doesn’t mean a transcript with 100% speaker separation. Because spoken and written languages are very different – it is hard to read a transcript with ideal speaker separation. Many meaningless interruptions break the flow. Speaker separation does not have to be ideal to be product ready!
Taking notes during a discussion disturbs the productive state of conversational flow and lengthens a meeting by 20-30%. It also makes it harder to develop a rapport with your meeting partners. Reason8 solves it.
Managers and people making 4-5 meetings a day, spend additional 30 minutes to 2-3 hours on creating meeting summaries daily. Reason8 helps to make meeting summaries 2-3 times faster than with written notes.
Are you looking for funding or are you open to partnership opportunities, and if so, what’s the best way for people to get in contact with you?:
Yes, we are looking for a seed round.
Yes, we are looking for partnerships with hardware manufacturers for conference calls. Especially Jabra, as they have HQ in Boston and a perfect device for conference rooms with multiple microphones – https://www.jabra.com/business/speakerphones/jabra-speak-series.
Finally, do you have any other comments or information about your product that you would like to add?:
Do you have a video explainer of your business? If so, please include a link.:
Social Media Links