Guidde – a video documentation platform utilizing generative AI – recently announced a $11.6 million Series A funding round led by Norwest Venture Partners, and they were joined by existing investors Entrée Capital, Honeystone Ventures, Crescendo Ventures, and new investor Tiferes Ventures.
The Series A funding round 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 global presence.
On average, organizations rely on over 200 software apps to deliver on their mission (Okta’s Businesses at Work 2023 Report). So, employees are tasked with operating more tools with less training than ever, negatively impacting software adoption and engagement.
Video is considered the most effective medium for driving adoption, with 69% of people preferring video over text when learning about a product or service. However, creating video-based knowledge at scale is still lagging. Guidde addresses this by empowering teams with AI-driven video documentation. And the product utilizes 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.
Video creation now is fragmented, lengthy, and hard, and it typically involves multiple tools and people and sometimes entails weeks of work to produce even a single video. And Guidde combines 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 than it takes to make a cup of coffee.
Guidde 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.
KEY QUOTES:
“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. 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.”
— Yoav Einav, Co-Founder and CEO of Guidde
“We recognized the need to accelerate onboarding and time to value for our customers and have always felt that video was the right approach. 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.”
— Savinder Chauhan, Vice President of Support at Perforce
“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. 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”.
— Dror Nahumi, General Partner at Norwest Venture Partners
“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.”
— Eran Bielski, General Partner at Entrée Capital
