San Francisco, California, United States
Fathom.ai is a free AI meeting assistant that records, transcribes, and summarizes calls on Zoom, Google Meet, and Microsoft Teams. The company was founded in 2020 by Richard White, a computer science engineer who previously co-built UserVoice over roughly 12 years, scaling it to $10 million in revenue before transitioning out in 2019.
Fathom has grown from $100K ARR in 2022 to $1M in 2023, $10M in 2024, and $30M in 2025, a trajectory White describes as "zero to one, one to 10, and 10 to 30 in the first three years of monetization." The company has raised $30 million total across three rounds, including a $10M seed in 2021, a $3M seed in 2023, and a $17M Series A in 2024 at a $73M valuation. The team has grown to 100 people. Average revenue per customer is approximately $25 per seat with an average of 8 to 10 seats, putting the typical account around $200 per month.
The single most distinctive strategic fact is that Fathom gave its core product away for free even while losing $50 per user per month in its early years, betting that transcription costs would fall to near zero. That bet proved correct, and the free individual tier became the distribution engine for a paid team product, allowing Fathom to reach hundreds of thousands of daily users and $30M ARR while raising far less capital than any of its major competitors.