In a remarkable fundraising feat, Granola, the innovative notepad app, has secured $20 million in Series A funding in just one week. The round was led by Spark Capital, with participation from prominent investors such as Nat Friedman, Daniel Gross, Lightspeed, Betaworks, Firstminute Capital, and others.
Granola's collaborative approach, which combines human input with AI technology, has resonated with venture capitalists, who have been using the app to record and augment meeting notes. The app's popularity has grown exponentially, with a 5x increase in user base since its launch in May, and 5,000 people using it weekly.
The startup's success is attributed to its unique approach, which allows users to guide the AI in highlighting key takeaways from meetings. This collaborative method has made Granola a go-to tool for VCs and leaders, with 57% of users holding leadership positions.
With the fresh funding, Granola plans to expand its engineering team, develop an enterprise pricing plan, and introduce features that can proactively identify interesting themes and nuggets from a set of meetings. A mobile app is also slated for release next year.