Guidde, the video documentation platform harnessing generative AI, announced a $11.6 million Series A funding round led by Norwest Venture Partners, joined by existing investors Entrée Capital, Honeystone Ventures, Crescendo Ventures, and new investor Tiferes Ventures. The Series A funding comes within a year of the company’s product launch, bringing its total capital raised to $15.6 million. Guidde will use the capital to expand its engineering and data science teams and grow its go-to-market team as it looks to develop its presence around the globe.
Organizations today rely on over 200 software apps on average to deliver on their mission, according to Okta’s Businesses at Work 2023 Report. As a result, employees are tasked with operating more tools with less training than ever before, negatively impacting software adoption and engagement. Video is seen as the most effective medium for driving adoption with 69% of people preferring video over text when learning about a product or service – but creating video-based knowledge at scale is still lagging behind. This is where Guidde steps in by empowering teams with AI-driven video documentation. The product leverages generative AI to enable anyone to create, edit and share how-to guides for any software or process – without requiring any prior design or video skills.
“Software apps have become essential to businesses of all types yet adoption challenges such as knowledge sharing, onboarding, training, and support remains an ongoing pain point across the board. What today’s software is missing is an effective navigation system,” said Yoav Einav, Co-Founder and CEO of Guidde.” “At Guidde we are building the ‘Waze for software’, which helps you navigate any application using video. In today’s landscape, if users struggle to grasp a product’s functionality, they’re unlikely to remain engaged. We’ve harnessed generative AI to craft a solution that boosts application adoption, engagement, and retention rates.”
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Video creation today is fragmented, lengthy and hard – it typically involves multiple tools, multiple people and entails sometimes weeks of work to produce even a single video. Guidde fuses multiple point products with the power of AI to establish a single platform that allows anyone in an organization to create, edit, publish and analyze video and documentation for any software in less time that it takes to make a cup of coffee. Combining application workflow intelligence with AI generated storyline, voiceover, motion and interactivity, the platform enables organizations to capture and deliver their know-how at scale.
“We recognized the need to accelerate onboarding and time to value for our customers and have always felt that video was the right approach,” explains Savinder Chauhan, Vice President of Support at Perforce. “Guidde has been a key enabler – not only by expediting video creation, but also by increasing our capacity to produce rich, diverse content across our portfolio. In the past, crafting a typical video would require several tools and take many hours including the video creation, overlaying graphics, recording a voiceover, etc. Now, we accomplish that in less than five minutes.”
The business applications software industry has long struggled with technical writing for complex software products, as evidenced by Guidde’s initial and impressive market velocity,” said Dror Nahumi, General Partner at Norwest Venture Partners. “Guidde’s product roadmap harnesses AI and editing technologies and creates a solid direction to streamline the creation, generation and maintenance of technical content for any organization”.
“Guidde is helping usher the Generative AI age for software. They have built a product that empowers anyone to create and share knowledge very quickly in a visual and interactive way, regardless of their technical skills or budget. We are excited to continue supporting Yoav, Dan and the team as they continue pursuing their mission” said Eran Bielski, General Partner at Entrée Capital.
Guidde has experienced rapid revenue growth since its launch late last year and is already being used by over 500 organizations such as SentinelOne, LiveNation, Nuvei and Redis, for training, onboarding, new feature announcements, FAQs, integrations and much more.
SOURCE: PRNewswire
