Atlassian announced on Thursday that it acquired Rewatch, an AI-powered tool for taking meeting notes, recording screens, and storing videos. The company plans to integrate Rewatch into Loom, a video messaging platform it acquired for $975 million last October. Additionally, Atlassian plans to incorporate Rewatch into its Rovo AI platform to quickly turn meeting notes into Jira issues and make transcripts searchable in a business setting.
The acquisition price was not disclosed, but in early 2021, Rewatch raised $20 million in a Series A round led by Andreessen Horowitz. Since then, the company has not raised additional funds.
Loom co-founder, Joe Thomas, mentioned in an interview before the announcement that Loom already had integration with Zoom for recording meetings and creating transcripts, but it was not aligned with the company’s goals. Integrating Rewatch’s technology will enhance their efforts to maximize the value of meeting recordings, especially with Rovo’s unified search platform.
Both Loom and Rewatch share Andreessen Horowitz as a common investor, with Thomas and Rewatch founder, Connor Sears, having crossed paths in the past. While Thomas believes integrating Rewatch’s tech stack will be straightforward now that Loom is on the Atlassian platform, the real challenge lies in providing a seamless user experience to make sure the AI agent understands the context of the meetings correctly.
Rewatch offers a simple calendar integration feature that Atlassian found appealing. Users can easily activate the meeting bot for each meeting and benefit from automation features that streamline processes like sending meeting notes to attendees.
Once the integration is complete, the Loom AI agent will be able to join meetings on Zoom, Google Meet, and Microsoft Teams, creating transcripts, meeting notes, and action items that can be linked to Confluence pages, Jira issues, and service tickets.
With over 31 million registered users and 360 million videos on the platform, Loom’s mission is to facilitate effective communication through video messages at work. Atlassian aims to expand its capabilities beyond asynchronous messaging by leveraging videos and transcripts in different business contexts.
Read More
Indian startup Agrim raises $17.3M to streamline farmer access to inputs