History
2021: Attracting investment, including from RTP Global
In mid-February 2021, it became known that RTP Global invested in Krisp, a startup developing noise removal software in video conferences. The financing will be used to accelerate product development, attract new specialists and expand the market in the USA, Europe and Armenia.
The AI-based Krisp application works with any conference, recording, and podcasting services because the intelligent audio filter is located between the physical microphone and the selected conference application. The Krisp machine learning algorithm is able to detect the sounds of a human voice and choose only a certain part of it, while excluding everything else - background voices, dog barking, indoor echoes and other sounds that interfere with virtual conferences. Such a method is advantageously different from noise cancellation technologies, which are used in hardware devices and either create an opposite sound wave to neutralize noise (active noise cancellation), or simply prevent noise from entering the ears (passive noise cancellation).
The application is used by both individuals and more than 1000 enterprises around the world, and in 2020, against the background of the pandemic, the number of active users increased 20 times. The company entered the Gartner breakthrough technology list and received several awards. The A-1 series funding round brought the company $9 million. In addition to RTP Global, which led the round, it involved the venture capital company B2B Storm Ventures, focused on corporate investments.
Krisp management claims that the funding will be used to accelerate product development and attract a number of strategic employees for sales and marketing. By the end of 2021, Krisp plans to increase the main staff from 95 to 170 people, and the AI sound research team from 25 to 45 people. The company's research group is based in Armenia, where the founders of Krisp also live. The company also plans to expand its sales and marketing departments in the United States.[1]
Notes
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