By Andrew Lindsay, VP Corporate & Business Development at HubSpot
Many of us have a love-hate relationship with meetings. Yes, they’re necessary to stay informed and make decisions, but we often leave them feeling unsure of next steps and wishing we could get that time back. Two-thirds of meetings are considered unproductive and employees spend 31 hours in unproductive meetings each month.
At HubSpot, we think a lot about how business leaders, particularly at small businesses, spend their precious time and how to make them more productive.
We’re constantly seeking ways to make meetings more effective, whether in-person, by video, or over the phone. When meetings go well, sales and service employees can better address their customer’s needs and teams can achieve greater output.
A few months ago, we met the leaders of an exciting new company called Avoma and we clicked over our shared the belief that there’s a better way to enable productive meetings. Aditya Kothadiya, Albert Lai, and Devendra Laulkar have studied small business meetings and are devising innovative ways to make them more effective.
The Palo Alto-based trio founded Avoma to put an end to useless meetings and developed proprietary technology do the tedious work of ensuring no meeting or phone call ends without a clear and referenceable plan. We are thrilled to join them in this mission and to announce our investment in their seed round, led by K9 Ventures.
Avoma, an acronym for “A Very Organized Meeting Assistant,” is the first AI assistant for customer-facing teams that focuses on a meeting’s end-to-end lifecycle. Their product automatically listens to a conversation, highlights key points, and detects next steps throughout any call or meeting. Even better, their powerful integrations create a direct line to a user’s CRM or sales enablement platform, so these insights have a clear place to live. On the back end, the tool also provides users flexibility to share brief recording clips or transcripts with their broader team. Managers can use Avoma’s powerful analytics tools to find common trends and themes across all conversations.
Unsurprisingly, their core use cases touch sales and customer success. The conversations sales and customer success reps have are goldmines for customer knowledge; however, that information is often lost unless someone is actually spending hours taking detailed notes, collating insights, and then sharing those insights within their organization. Those calls all happen in a black box and Avoma believes that is a dangerous status quo.
Avoma has a thoughtful product and technical approach and their go-to-market focus on smaller-to-medium sales teams made the business a good fit with HubSpot Ventures.
Embedded in HubSpot’s mission is a goal to give every business — small businesses included — the tools to improve their operations and compete against even their largest competitors.
Avoma shares in this goal, and we are delighted to be a small part of their story.
Congratulations to Aditya, Albert, and Devendra and the entire Avoma team on what you are building. We are excited to be working with you.