Since 1999, Redpoint Ventures has partnered with visionary founders to create new markets and redefine existing ones. The firm invests in startups across the seed, early and growth phases. Redpoint has backed over 465 companies with 140 IPOs and M+As, including 2U, HomeAway, Heroku, Netflix, PureStorage, Twilio and Zendesk, and incubated market disruptors like Android. In total, the firm manages $4 billion across multiple funds. Redpoint is based in Menlo Park and has offices in San Francisco, Beijing and Shanghai. For more information visit: http://www.redpoint.com/
Thank you, InfraRed Summit 2024! Here are some highlights from an incredible day.
Shout out to…
• The many founders and tech leaders who made the event unforgettable
• Matthew Prince (Co-Founder & CEO, Cloudflare) and Thomas Kurian(CEO, Google Cloud) for insightful fireside chats
• Matt Schulman (CEO, Pave) and Atli Thorkelsson for discussing the Redpoint Radar Talent Report
• Sai Senthilkumar and Patrick Chase for presenting the InfraRed Report on the state of cloud infrastructure
• Finally… a huge thank you to Nasdaq and all of our sponsors: J.P. Morgan Morgan, Alliant Insurance Services, & Cooley LLP.
InfraRed Summit 2024 was a day to remember! Engaging fireside chats, enlightening presentations, and valuable CXO matchmaking made it truly special. Excited to do it all again next year!
According to Ramp’s Quarterly Spend report, Fireflies.ai was the 4th most popular AI platform by customer count (behind only OpenAI, Midjourney and Anthropic). With over 300,000 customers worldwide and 16M users, Fireflies.ai is operating at a scale few AI companies have reached.
This week on Unsupervised Learning we had Krish Ramineni, Co-founder & CEO of Fireflies on to talk about how he sees AI changing the way we work and conduct meetings, and share his biggest learnings around AI in building Fireflies. Some of my favorite takeaways:
Why Fireflies doesn’t believe in Fine Tuning
Krish explains how the world of AI is changing weekly. This speed makes fine tuning less useful as time goes on. He points out that what worked during the era of GPT3 isn't cutting it anymore with GPT4 and the same will be true in the future. Instead, Krish believes in leveraging prompt engineering and using real-time context to boost AI performance.
💻Building defensibility against incumbents (Teams, Zoom, Meet)
Krish talks about taking on the big players in the market, emphasizing the need to focus on solving specific problems deeply within customer workflows. While giants like Teams and Zoom might offer basic services like transcription or general note-taking, Krish argues the real game-changer is providing solutions that deeply integrate and impact significant business decisions—like helping close major deals or managing complex ERP systems. He notes that for large incumbents, features like AI are often just checklist items to boost stock prices, but startups have the agility to innovate without the drag of corporate bureaucracy. By staying lean, focusing deeply on customer needs, and avoiding spreading themselves too thin, startups can outmaneuver larger companies.
🤖The future of work, as Krish sees it
Imagine having AI like Fireflies handle the pre-meeting preparations—knowing who you're meeting with, the discussion topics, and what you talked about last time. Post-meeting, instead of the usual rush to update CRMs, create tasks, or document discussions, your AI assistant is already turning your spoken words into actions. Looking further ahead, Krish speculates about AI agents representing us in interactions, perhaps even negotiating or making preliminary decisions on our behalf. While the idea might sound like something out of Black Mirror, it highlights a future where AI handles the mundane, allowing humans to focus on decision-making, creative tasks, and in-depth discussions.
Listen to the full episode 👇
YouTube: https://lnkd.in/g5gDrNWP
Spotify: https://spoti.fi/4btzir8
Apple: https://apple.co/3XJD7Fy
We were honored to host this rare fireside chat with Satish Dharmaraj, Managing Director at Redpoint at Atomic’s Builders Summit. 🔥
Satish is a serial entrepreneur, 7x Forbes Midas Lister and mentor to the next generation of founders. In short, he’s a 🐐 (and insanely humble.) Tune in to hear his behind the scenes stories of what it was like to be an early investor in Snowflake and Mistral, plus his advice on company building. Invaluable wisdom from one of the industry's best. 🌟 cc Jack AbrahamChester NgAlex Bard#Building#Innovation#Entrepreneurship#Startupshttps://lnkd.in/gYwD2E9Q
Congratulations to Coder on raising an additional $35M to bring its total series B funding to $65M. We’re proud to continue our partnership with Coder on their mission to simplify and transform how developers deliver their code. More about the fundraise: https://lnkd.in/dvHpbEbU
Big news from Coder today❗We’re thrilled to announce we’ve raised $35M in Series B2 Funding from new investor Georgian, with participation from our existing investors Uncork Capital, Notable Capital, and Redpoint Ventures!
This marks a huge milestone for Coder as we double down on cloud development environment’s (CDEs), equipping them with the performance, scale, and security of the cloud while broadening our open-source footprint, and expanding globally. We’re excited to continue on our journey of getting developers in ‘the flow,’ bringing true innovation to their workplace. Read all about the investment and how we plan to reshape the world of CDEs: http://cdr.co/yMjQwNA
Excited to share our story regarding “How We Built a Startup [Langtrace] Within a Startup, By Accident” and highlight why LLM Application Observability and Evaluations are paramount for any product builder using LLMs.
Link: https://lnkd.in/euBtkncg
Yesterday, we at Redpoint hosted our 2nd annual InfraRed Summit. We unveiled the InfraRed 100 list, highlighting the top 100 emerging private companies within cloud infra. In addition to some great fireside chats with Matthew Prince (CEO of Cloudflare) and Thomas Kurian (CEO of Google Cloud), Patrick Chase and I presented our InfraRed Report, showcasing the latest innovations in cloud infra across the private and public markets. Key topics included:
• An overview of the current state of the public cloud infrastructure market
• The latest trends in AI, data, DevOps, and security
• A deep dive into the public index we launched last year ($NQRPCI), and some learnings for private infrastructure businesses
Full report here, hope you enjoy!
