How Fathom.ai Reached $30M ARR in Three Years of Monetization (Interview with CEO Richard White)

The AI notetaker war and Fathom's position

Nathan Latka

00:00There is a multibillion dollar war happening in the world of AI notetakers. I'm sure you've seen them in your Zoom meetings. Fireflies did a tender offer at $1,000,000,000 last year in 2025 and says they've been profitable since 2023, and Otter says it ended 2025 at a $100,000,000 run rate. Zoom, Google, and Microsoft are also launching their own AI native notetakers. And then there's Richard White. He's building fathom.

Richard White

00:25>> We basically went zero to one, one to ten, and ten to 30 in the first three years of monetization.

Nathan Latka

00:30He is by far the most capital efficient of all the notetaker CEOs, having raised just $30,000,000 to grow well past $30,000,000 of annual revenue. But how does he manage his cash?

Richard White

00:41>> Yeah. Probably never more than 1,000,000 in the bank. One point five to two, one to two million constantly.

Nathan Latka

00:45But how did he grow so quickly when he raised such a small amount? Well, he gave the product away for free, which was shocking because of this.

Richard White

00:52>> That gave us the confidence to say, we can give this away for free and actually lose a lot of money. We were losing like $50 a user per month in the first, you know, couple years of fathom.

Nathan Latka

01:01Then he hired salespeople before there was anything to sell. Why would he do this?

Richard White

01:05>> I had hired three of my best salespeople from user voice, and I said, I've got nothing for you to sell today, but one day I will.

Nathan Latka

01:11Will. If you're building an AI tool and you wanna beat your VC backed competitors, this episode is for you. Watch until the end and you'll learn three things. Number one, how to use your data as a moat. I'm talking integrations, CLI, MCPs, you name it.

Richard White

01:24>> So we're actually gonna have first class direct integrations with Cloud and ChatGPT, an MCP server for anything else you might use. And we're also looking at adding kind of like support for like people running kind of local bots as well, local agents.

Nathan Latka

01:36Number two, the six part retention playbook Richard used to extend the lifetime value of his customers despite a very competitive market.

Richard White

01:44>> I'm a big fan of attacking metrics in order of risk. So I think a lot of people, they launch and they're trying to monetize and get acquisition and prove retention. And I'm a big fan of, okay, let's take those five metrics and take them one at a time.

Nathan Latka

01:56And number three, the top growth channel Richard and fathom use to grow from 1,000,000 to 30,000,000 of revenue very quickly. Let's jump in. Hey, folks. My guest today is Richard White. He's the Founder and CEO of fathom, an AI meeting assistant he launched in 2020 after running user voice for over a decade. He's raised about $17,000,000, including a recent series a scaled to millions of revenue and built one of the fastest growing AI productivity tools with

02:19thousands of companies using it daily. Richard, you ready to take us to the top?

Richard White

02:22>> Let's do it.

Nathan Latka

02:23All right. I was just thinking like, what could I share on my screen so that people see how bit of a power user I am? But there's a bunch of customer information that I probably can't share. But you can look in your database. We are a daily user of fathom at Founderpath. And I think to give the audience context on why I wanted Richard on, guys, there's a lot of noise in the space right now. He

02:39has competitors that are sort of very loud and out there. He's sort of built this in a very sort of a way that we like to teach on the podcast, which is capital efficient, distribution oriented and user focused. So Richard, on that note, I mean, maybe that's a good place to start. One of your recent rounds here first off, let me just take a step back. For people that don't know what the product is, why don't

02:59you give the product pitch?

Richard White

03:00>> Sure. Yeah. So fathom is a free AI meeting assistant. You know, we take notes on your Zoom, Google Meet, Microsoft Teams calls. As you mentioned, we've been around a couple of years, I think we are not the loudest person in our space, but we really pride ourselves on two things. One is like the quality of the output, highest quality transcript, the highest quality summaries. And now we pride ourselves a lot on being the thing that plugs

03:25>> in to all the other tools you're using. So we're about to launch an MCP server, we have our API and all that stuff is available for free. And so we really hang our hand on quality and giving a lot of it for free frankly. That's part of our distribution kind of story if you will.

Nathan Latka

03:38Well, so let's jump into that. Mean, I think one of the early investors you brought in was Zoom's fund. Trying Does to go deeper on an integration that turn off all the other providers in terms of them wanting to give you access when they know Zoom's in your cap table?

Product overview and what Fathom does

Richard White

03:52>> No, think for the most part the interesting thing about building this business is they're not really APIs, they're all kind of undocumented. Historically we captured stuff with bots and I think we'll talk about how we were gonna have some not bot options here coming up soon. But they're kind of undocumented APIs, it's not really much any of the platforms can do. And candidly, I think Zoom for a while has been the leader in this space. Certainly

04:12>> for the people we're going after, which are customer facing teams and organizations, a lot of them are Zoom first. No, think something we did earlier on in this journey and it really paid dividends being we were one of the first apps on the Zoom marketplace. You know, Zoom invested, Zoom heavily promoted us, and they've been a fantastic partner.

Nathan Latka

04:30Yeah. I found an example, guys, just so you can see why we ended up I'll actually I'll give this analogy. We use because there's everyone's using different call recorders, We use fathom. Fathom is like our favorite pair of jeans, right? We wear them six times a week. It's pretty much always open. We use it the most. A tool like, you know, granola, obviously also in the space, we use them as like if we want to put

04:50on and do like a very special sort of thing. It's like a think of it like a SWAT thing. Put on our army uniform. We maybe do it once a month and like we'll we'll do that. Right? So no bot in the experience. It's off to the side. It's a transcript happening. Then there's the others which I would describe like Adio, for example. ATTIO started off as a CRM. I would view them as sort of like

05:09socks, right? You sort of have to have them, but they're not making any sort of style statements like my jeans would. And they record the calls. But when you go into the CRM, they don't have like, I'm going show you guys here what fathom does. I found a call I can actually share here because there's no information. Like they just make it so easy inside of here to get the key takeaways topics instantly. Like the second

05:29the call stops, this basically pops out, which is valuable. So very tight feedback loop. The transcript is very easy to copy and paste, which Richard, I don't know if you can track how much your users do this, but all these foundation models where you can upload project files to teach it a brain, so much of that is us copying. It's me interviewing my here, my database team and putting it into Claude project and saying help me

Zoom marketplace integration and early distribution

Nathan Latka

05:50understand how to code on GetLatka using conductor based off what my engineering team taught me on fathom. Are you seeing that a use case a ton?

Richard White

05:57>> A 100%. So we're about to do this really big launch next week and part of it's a whole new redesign desktop experience. Part of that is making this process so much easier. So we're actually gonna have first class direct integrations with Cloud and ChatGPT, an MCP server for anything else you might use. And we're also looking at adding kind of like support for people running kind of local bots as well, local agents, where we're gonna start

06:21>> emitting all of your meeting data, like the summary you see here, the transcript, directly to your file system so that you can just immediately, you don't have to make any API calls sort of thing. So yeah, we see that a lot and we want to encourage that. We want to make that as easy as possible. We want Fathom to be the easiest meme platform to get your data out of it because it's your data.

Nathan Latka

06:39But that's not what you just said is not standard. Mean Adio doesn't even have a copy transcript button in their interface, it drives me insane. So I don't use them because it's like it's a walled garden, it's an Apple approach. In this space, why did you make the decision that the best way to win is to be the opposite of a walled garden?

Refusing to build walled gardens

Richard White

06:55>> I mean I think it's a little contrarian. Think going back to kind of the fundraising strategy, I think a lot of our competitors have now raised a lot of money and I think it's forcing them to monetize at the individual level. We have kind of two products. We have a product that we were kind of giving away for free to individuals and the way the other product sits on top of that for people that are running

07:12>> teams, that helps them kind of understand what's happening across all those meetings their team is having. And we kind of can monetize there which allows us to be really generous to individuals even if you never join a team. And it's kind of our strategy. And so frankly, I look at this as like, we're happy to give away the data because we're always upstream from any use case there. And so like over time there's always things we

07:29>> can first party in. I want to support the salesperson that's building their own CRM and cloud today because we can learn a lot from that person about what things we can build into the product in the future, right?

Nathan Latka

07:41This makes a lot of sense. I want to get the growth story, before I do that though, I don't even know what we pay you guys, but it's never come up because I just know we get so much more value relative to what

Pricing at $25 per seat and average contract value

Richard White

07:49>> we're paying. But what is the average customer paying you today? Average customer, so we price pretty aggressively. I tell our team we never want to always on price. We price ourselves even on parity with people that we think have much lower quality transcription and summaries. But the average user is about $25 if you'll get across all our plans of it, dollars 25 per seat. And then we probably average I think around eight to 10 seats is

08:12>> our average.

Nathan Latka

08:13Interesting, interesting. Okay, so I mean can I take what is that eight times 25 means the average company on your platform might be like, what is that, $200 a month, something like that?

Richard White

08:21>> Yeah, something like that. That's

Nathan Latka

08:23right. Interesting. And is that, do you see yourself trending more towards how do we go get the enterprise with a thousand seats or no, let's go get every new vibe coder using a $25 one seat plan on fathom?

Richard White

08:35>> I mean we generally, yeah, like I said, we generally monetize kind of teams on individuals. I don't think we're at the place where we're seeing enterprise. We certainly see that it's a wide distribution, if that average is 10, it ranges from two seats up to 200 seats sort of thing. I think the enterprise itself, I hesitate to say, I don't think we do much with the enterprise today by the more traditional definition of like thousands and

08:58>> thousands of employee companies. I don't think those companies in general are like yet digesting tools like this. I think there's still a lot, they're still figuring out their AI strategies, they're still figuring out their data governance strategies around this. But what we have seen consistently over the last three years is like every year we keep seeing larger and larger companies. Three years ago I saw nothing but 10 person companies, 20 person companies, two years ago 50

09:19>> person companies, we just see this kind of melt up. And I think that works really well because I think one of the biggest risks to doing a startup is like you try to jump to enterprise and you abandon what's working, which with kind of small and medium sized businesses. The enterprise need, as you know, they need a ton of features that the lower, smaller companies do not. I think it's easy to sometimes commit yourself like if

09:38>> I add this one feature, we'll be enterprise ready. And it's like, no. No. No. There's 50 other things after you add that one thing. So we've done a really good I'm really proud of our discipline on this, like, chasing those big deals, but consistently getting better and better about servicing large companies every week. Interesting.

Nathan Latka

09:51Guys, remember, I am not just a YouTuber. I'm investing into my third fund. We've deployed $250,000,000 into 550 software companies so far. Again, at founderpath.com. If you're interested in capital, I would love to cut you a check because I know you're investing in your education. You watch my show. Sign So up at founderpath.com and when you get the onboarding email, I reply and I see all those. Just reply and say Nathan, I found you through YouTube

10:14and I'll make sure to prioritize you. I would love to cut you a check. Check out founderpath.com. Tell me more about the backstory here in terms of your own journey. Know you are at, this is a long, anytime I see someone eighteen years at a startup I go respect, this is a guy or a gal that does not quit. What was user voice and was this bootstrap, did you raise, what'd you learn there?

UserVoice backstory and transition to Fathom

Richard White

10:32>> Yeah, so a quick story of my journey. So my background's computer science, was I an engineer by trade. Early in my career I kind of said, Hey, okay coder, but I'm actually a better designer. And I actually found a way to kind of like push myself onto a team that happened to be in the first batch of Y Combinator, which at the time didn't mean anything now obviously. And so I worked with Justin Conan and Emmett

10:47>> Sheer who went on to do Twitch on this thing that was basically Google Calendar for Google Calendar. And one of our big challenges there was gathering customer feedback at scale. Think I started in the same room as Reddit. So user voice, you could think of it really as Reddit for customer feedback. And so we were trying to use crowdsourcing basically to organize feedback at scale. And it was a fun business. I called it my finishing school

11:04>> for startups because I was there for about twelve years. It started off as a PLG company before we called things PLG. It ended up as an enterprise business that we were selling to Yahoo and Microsoft and Netflix and Meta and stuff like that. Honestly fathom then came out of certain things. Like every startup I've done has come out of problems I into at the previous one. And so user voice came out of my challenge of getting

11:22>> feedback at Kiko. And fathom came out of my challenges of just taking notes and doing user research at user voice. And so it was like early twenty twenty on a ton of Zoom calls, like a lot of us were at that point. I was actually researching some other products and I was just like, gosh, I went back to back meetings and me trying to talk to people and be a stenographer at the same time and pack

11:37>> out some notes and clean up those notes afterwards. Like, this is an insane way to live. And so we really kind of in 2020 developed a core hypothesis that like, why doesn't this exist today? Why isn't there a notetaker for everyone? And tools like Gong existed at that point, which were like sales specific versions of this that were very expensive. And we looked like, why is it only for sales? Well, the answer in 2020 was transcription

11:56>> was exceptionally expensive. And there was AI, it's hard to remember this, the first generation of AI tools was really mediocre. And so we kind of bet fathom on two things happening. One, we thought transcription cost was going to zero and we thought it kind of a commodity. And that gave us the confidence to say, we can give this away for free and actually lose a lot of money. We were losing like $50 a user per month

12:12>> in the first couple of years of fathom.

Nathan Latka

12:13I have to drill deeper on that now. What was the biggest month of losses? Do you remember in the early years? Were we talking like a million net burn in one month?

Richard White

12:19>> No, thankfully it was one those things like we were still small enough that like, it never was, it's kind of funny. Transcription costs dropped to near zero right around the time. If they didn't, we would've been screwed. It was one of these things where we're directionally correct. If transcription engines or like Whisper and things come out a year later, we're probably dead. And so, yeah, so it was like this fun little game of chicken we were

Nathan Latka

12:38>> playing.

12:38Right.

12:38And dive into deep on fathom, but close the user voice story first. What was the best year of revenue when you were there and how did you transition out? There's a lot of founders right now in a business where they raised 9,000,000 of capital like you did going, really wanna go to this other thing but I don't know how to tell my investors, don't know how to tell my team, how do I transition out?

Richard White

12:54>> Yeah we got to about 10,000,000 of revenue with that company. It was pretty steady growth over the you know, I think we monetized to, what, two years in. So over ten years, that $10,000,000 amount. I ask my myself two questions at the end of every year. One is, am I uniquely qualified to run this business? And is this business uniquely qualified to teach me something? And in 2019 for the first time I said no to both

13:12>> of those questions. And once I kind of had that clarity, was ready to move on. What I actually did was I kind of took a group of people in the org and I started working on other projects. Like I kind of moved myself into a quasi PM position because that's kind of my role. And I elevated who I was planning to be CEO to like president position. And we didn't say this is the transition yet but

13:29>> kind of like giving you the keys to the core business and I'm gonna help you by trying to build like a new business on the side. And really it's a way for me to like kind of slowly transition, you know, still be here without kind of looming over your shoulder if you will. And so we had kind of like a nine month overlap period and then it was like great, you got this car, I'll get off

13:42>> the next stop. And so it worked pretty seamlessly, to be honest.

Nathan Latka

13:45Okay. Now going into fathom, walk me through how you got your first 10 customer. When was the first line of code written for fathom? When how'd you get your first 10 customers?

First 10 customers and the retention-first framework

Richard White

13:52>> First line of code was like fall twenty twenty. You know, think customers didn't come for a long time. I'm a big fan attacking metrics in order of risk. I think a lot of people like they launch and they're trying to monetize and get acquisition and prove retention. And I'm a big fan of like, okay, let's take those five metrics and take them one at a time. So we first focused on free user retention. Once we felt

14:09>> like we had that, then we focused on onboarding activation. Then we focused on acquisition. Then we focused on referral. And the last thing we're gonna focus on monetization. But I think to answer the spirit of your question, you know, we spent probably the first year me just hustling, to get people to use the product. And I was like gonna because it's something that's there's so many different failure modes for this thing. It's an undocumented API, it's

14:27>> joining meetings, it's building these bots. And so I remember I would kind of like every week get 30 people to volunteer to try my product. And I'd handhold them through the setup process and then see if they stuck with it. And I think we went through 800 people before we got to a cohort where I put 50 people in it and I got 30 people three weeks later.

Nathan Latka

14:44What month or year was launch?

Richard White

14:45>> Launch was almost exactly a year after first line of code. So it was August 2021. And we managed to, Zoom launched a marketplace and we were one of their launch partners. We were one of like 50 apps that launched on that marketplace. So that was what was driving kind of our like, okay, we have to launch at this point, if you will.

Nathan Latka

15:01Forcing function, when was your first dollar of revenue? Was it within a month of launch or later?

Zoom marketplace launch in August 2021

Richard White

15:05>> A year. I think it happens in August for us. So a year later, we got our first drop of revenue. And frankly, if I had it'd been up to me, it probably would've been two years. We actually really wanted to focus more on just the free user experience and referral loops and stuff like that. We had been doing a funny thing where we actually raised about 30,000,000. Today, we didn't really ever talk about the first 10,000,000

15:21>> we raised. We raised during 2020 and 2021. It was like a very heady time where it was very easy to raise. We were raising money every six months. We never had more than twelve months of runway for the first two, three years of the company.

15:31So 2021

15:31>> to 2022, just to

Nathan Latka

15:32be clear there, you'd raised about $10,000,000 super angel rounds, that kind of thing?

Richard White

15:36>> No, at that point, we'd only raised probably about three or four. Okay. So we raised we're raising basically two, two and a half a year sort of to fund this, if you will.

Nathan Latka

15:43Okay. Take me into 2023. What what happens?

Richard White

15:46>> 2023. So, you know, we kind of put some of our growth projects on hold. We said, you know, early twenty twenty two, we gotta figure out this. We always knew how we'd wanna monetize with like a team product, by charging individuals. Said, We gotta go run at this. About a year before that, I had hired three of my best salespeople from UserVoice. And I said, I've had nothing for you to sell today, but one day I

First dollar of revenue and early fundraising

Richard White

16:03>> will. I I want you to join now, and I want you to become a real an expert in the product and get to know our customers and just, you know, kind of be a customer success person. Then one day I'm gonna tell you, alright, time to sell and you're gonna hit the ground running. And like I said, at least in this moment, it was like, okay, it's time to sell. They're like, are we selling? I was

16:17>> like, well, here's the 10 features we're gonna sell. And they're like, how many of those exist today? I was like, one of them. And so we literally built out a pitch deck. We're like, cool, we're selling kind of the roadmap here. And so literally we had this product called team, fathom for teams. And it was pitch deck for the most part. And thankfully, we had so many users and they've been using us completely for free. There's

16:34>> so much goodwill there that a lot of people are like, look, I don't if you ever built these features, but we love the product so much. Won't stick around. We will

Nathan Latka

16:39be How priced many are we talking, Richard? How many free users in 2022? Tens of thousands? Wow. Okay. But not a 100,000, between 10 and a 100,000. Yeah.

Richard White

16:46>> Yeah. Yeah. Like in the 1000s. And so we kind of ran it then. So in the first month we got to 100 in MRR. And then

Nathan Latka

16:52In August, you had your first dollar of revenue and by June, July, September

Richard White

16:56>> 100 ks, sorry, 100 ks of ARR. Sorry, sorry, sorry.

Nathan Latka

16:58Oh, got it. I was gonna say holy mackerel, you hit the ground running.

Richard White

17:01>> Yeah, no, but overall we basically went, in the first year we went zero to a million. Took about a year to get to a million in ARR. It was a pretty steady ramp, but that was kind of a slog because we're still, and then we kind of, at the end of that we got close to that million that unlocked kind of like the last kind of seed round that we raised. So that was how we kind

17:17>> of bridged the gap that we have created by not fundraising a lot in 2022.

Nathan Latka

17:22What was that 2023 quote last seed round? You're talking $34,000,000?

Richard White

17:25>> It's about 3. Yeah, exactly. 3. Interesting.

Nathan Latka

17:27Now take me into something you do something very unique. I wanna give you the chance to sort of shine here and explain your strategy because most founders don't do this. I mean, you people would say, oh, I wanna go raise from Andreessen or someone. You're like, screw that. I want as many customers to participate in our fundraise as possible. It's maybe a good retention strategy. We're gonna go up on We Fund or Kings Crowd. What was

17:44the strategy here?

Hiring salespeople before having a product

Richard White

17:45>> We I think from the from the get go, we always had kind of a contrarian fundraising philosophy. Mean, even before we got to these, like, We Fund or things, we had to you we raised that $10,000,000, that first 10,000,000 we raised up until our seed round. Like I said, we did it over, like, seven, eight different rounds or tranches, if you will. Like, we did it all on safe notes for the most part. One part was

18:01>> price. And we did it from a lot of people. We had like 100 people on the cap table for that 10,000,000. And so was kind of intentional. Actually, I've done this game before. I felt very confident in my abilities in the formation phase of the company. And I said, look, I don't want to just go get one institutional investor that'll do the whole round. I actually really want to hear from like a bunch of different voices.

Letting early users invest equity in funding rounds

Richard White

18:19>> And so it gave us flexibility. We used fundraising almost as a currency to build a coalition. So like early on, I raised money from Zoom and anyone who had anything to do with Zoom. Like I raised money from from Jim over at Maven Ventures who who named Zoom. I was like cool, we need to get in Zoom, we're going raise money for everyone we need. Oh, at some point we realized we're going to sell to sales.

18:36>> And so I raised money from everyone who had anything to do with sales software. And then this was kind of a natural extension of that where at some point we were actually, we gave equity to like our first 100 users. Actually, I think it's maybe like 200, two fifty. Like borrowing kind of a page out some of the crypto playbooks. Was like, if you were early power user, we gave you a small bit of equity in

18:51>> fathom.

Nathan Latka

18:52Point o 1%? Like, me a cent of rain.

Richard White

18:53>> It's small. Right? Like, it's thousands of dollars worth today. It's not like millions of

Nathan Latka

18:57dollars worth. Right? It's ownership.

Richard White

18:58>> It's something. And at some point, it's like, our investor, are you doing? I was like, no, no, no, this is gonna work. And I like, well, I wanna keep doing this, maybe we should stop giving away for free at this point. Like we have a real business. And so we kind of set up this principle where every time we raise a round, we reserve 15% of it for our users to invest. And we did that at

19:13>> our seed round and at our series A. In a world where fundraising, I think, is a little crazy these days, trying to find this from kind of non typical investors. Whose money would I rather have? Someone where we're one of only two investments they do in year or someone where they've invested in 15 things this month. Right? And so in general, was looking for that's also why I liked having a 100 angels. I feel like in

19:31>> general, lot of these angels, it was they had more skin in the game. They're more willing to make that call for me to that company that where we needed it in or something like that. So

Nathan Latka

19:38You gamified. You viral coefficiented your fundraising process, which is great. Alright. And is everything else here pretty mean, you'd raise us at a 73,000,000 valuation. It looks like is this right? You're doing about 7,700,000 of ARR then. Is that right?

Scaling to $30M ARR across three years

Richard White

19:50>> I think when we raised our series a, we were doing actually around, I guess by the time it got announced maybe, when I we first tapered it, it was like 3,500,000, but we were ramping pretty quickly. We basically went zero to one, one to ten, and ten to 30 in the first three years of monetization.

Nathan Latka

20:04Wow, okay, so 2025 you broke 30,000,000 of revenue ARR. Wow, are you comfortable sharing where you're at today or what your plan is for 2026? Stretch goal?

Richard White

20:11>> We are so competitive enough. I mentioned this, like kind of laying low, so I'm not going to tell people where we are today. I'll tell you where we were last year sort of thing. But I like our strategy is just to be kind of like, we're under the radar. We're one of the top three people by usage in the space, but we're not even, I think, in the top five or 10 by fundraising amount. So I'm

20:28>> happy with that position.

Nathan Latka

20:30No. No. I I didn't dig it because I know your personality a bit. I had to ask. I didn't expect an answer though, but I know the growth is impressive. It doesn't surprise me because of how addicted I am to the product. So it makes a lot of good sense there. I wanna, end on two questions. One, comfortable sharing how many customers today? And two, what AI features are you thinking about sort of, you know, the

20:45next one, two months that might be coming out?

Richard White

20:47>> So like I said, we've a big launch coming out. We're we're rolling out the ability to capture meetings in any different kind of modality. Like today we've got video capture. My new favorite mode is audio capture, with just the audio, not the video, because I really like being able to get the notes and click on them and hear that part of the conversation. We've also got transcript only, which some of our top competitors have. So we're

Hundreds of thousands of daily users and usage metrics

Richard White

21:05>> watching those two new modes. You can capture without a bot in the meeting, which we're increasingly seeing as something people would like to see, right? Especially in these more sensitive meetings or internal meetings where we don't want as many bots as people. So we're moving directly away from the bot. We're also, as I mentioned, we're rolling all this stuff to make it really easy to work with AI. The feature I'm really excited about is something called

21:22>> ask fathom. It sits on top of all of your team's meetings, and it's now a thing where you can ask it any question. And you you reference some of AI CRMs and stuff like that. And it's funny because I've seen some of these ads about like, you can just ask AI anything. You can ask us that too. You can ask fathom now. What are the trends and competitors mentioned over the last three weeks? What are the

21:39>> features that are coming up that we don't have good answers for? You can also set up alerts on these things. Tell me anytime there's a pricing discussion that doesn't go well. And so this ability to kind of just really

Nathan Latka

21:48I don't have that, do I?

Richard White

21:49>> Second brain? You don't, I don't think. This is all coming out next week. So all this stuff is is coming out. A lot of that's on some of that's on our team product, but even as an individual, would ask questions of this. So whether you're doing this in Claude, right, or you're this in open Claude or you're using our kind of first party tools, we're kind of moving to this world where it's not about the notes.

22:04>> It's about having this, like, it knows everything about every meeting, every part thing that's happening in your org, and you can just query it for information.

Nathan Latka

22:10So it's not it's not this. It's basically this, but at an org level across all transcripts. Yeah. And I have that if I switch over to our team account. I'm just not demoing that right now because there's Correct. Sensitive customer but that that makes a ton of sense. Really interesting. And what is the top use case for you? Is it head of product interviewing customers, flagging bugs and feature opportunities? Or what what is the number one

22:27use case?

Richard White

22:28>> We've mostly focused on kind of customer facing use cases. So a lot of sales, a lot of customer success, a lot of client services. What we're excited about with this new launch, right, with some these bottles captured, it's moving more into internal meetings. And we kind of see ourselves being upstream from CRMs and from knowledge management. Right? And so like, you you think about all the documentation you create internally about things, that all comes out of

22:47>> meetings for the most part. Right? And so the ability to like query and ask questions is really powerful. So yeah, today we focus on customer facing, but our goal is you use fathom wall to wall in your org.

Nathan Latka

22:56Yeah. I love that. Richard, you're not a clickbait kind of guy. So this is gonna be a hard one for me to drag out of you, but I'm gonna ask it. Can you give anything around just the usage? Can you say number of recordings per day or per month or number of questions asked to fathom or any kind of quantifiable usage metric?

Upcoming AI features and Ask Fathom launch

Richard White

23:12>> Yeah. Think you could, you know, hundreds of thousands of daily users. Interesting.

Nathan Latka

23:16And does that mean hundreds of thousands of daily recordings or transcripts?

Richard White

23:19>> Oh,

23:19>> yeah. Have you passed a billion live today?

Nathan Latka

23:20No. Interesting. Interesting.

Richard White

23:21>> I'm a clickbait guy so I like these.

23:23>> I love it.

Nathan Latka

23:24Yeah. Alright.

Richard White

23:25>> You're right. Am not a clickbait guy. I don't even I don't even have like Instagram. I don't even have any of these things. I know. I know. You're

Nathan Latka

23:31you're the only way I was able to get you live is because I I don't know why you said yes, maybe it's because I I just use it a ton. I'm obviously close with Pat and Active Capital and I'm a fan of what you're building.

Richard White

23:38>> Any user emails me, I you know, I I always my hand. I we appreciate your usage and your loyalty.

Nathan Latka

23:44Awesome. Well, guys, if people wanna Richard, if people wanna check you out as the best place, just fathom.ai?

Richard White

23:48>> Correct.

Nathan Latka

23:49Yep. Guys, he cut his teeth in one of the first batches of y c. This is from 2006 or '7. Ended up bit putting in his time, his start up, his start up education at UserVoice almost eighteen years there before saying, you know what? Let's get fathom off the ground twenty twenty first line of code and said,

24:02you know what, let me focus on retention first, then onboarding, then acquisition, then referral, then monetization. Twenty twenty one of August, they launched part of the Zoom marketplace launched. And then in 2022 in August, they got their first dollar revenue and then scaled aggressively from there. 100 ks of ARR in the first thirty days by 2023 in August, 1,000,000 of revenue, then $10,000,020.24, 30,000,000 in 2025. I couldn't get the 2026 number, but you can do the

24:23math. You draw a beautiful little line, you connect the dots, and you can sort of see where it's going. He's got a cool new product coming out related to AI and, and and getting bots out of your meetings, but still getting transcriptions or screen recordings or only one or the other. Check it out at fathom.ai. Richard, thanks for taking us to the top.

Richard White

24:37>> Thank

Nathan Latka

24:38you. You won't believe this CEO's revenue. Click here to watch the next episode right now.