Armenian Startup Nearly Triples Fundraising to $9 Million

Krisp, an Armenian startup, produces a software that blocks background noise on phone calls
Krisp, an Armenian startup, produces a software that blocks background noise on phone calls

Krisp, an Armenian startup, produces a software that blocks background noise on phone calls

Krisp, an Armenian startup that uses machine learning to remove background noise from audio in real time, has raised $9 million as an extension of its $5 million announced last summer, TechCrunch reported.

The extra money followed big traction in 2020 for the Armenian company, which grew its customers and revenue by more than an order of magnitude.

The company appears to have benefited immensely from the shift to virtual meetings and other trends accelerated by the pandemic. In 2020, the company saw an increase of its active users by 20, with a 23-times increase in enterprise accounts and a 13-times improvement of annual recurring revenue.

Krisp now has more than 1,200 enterprise customers, banks, HR platforms, law firms, call centers — anyone who benefits from having a clear voice on the line, co-founder Davit Baghdasaryan told TechCrunch.

Noise cancellation for high-fidelity voice channels makes the software useful for podcasters and streamers, and acoustic correction (removing room echos) simplifies those setups quite a bit as well. Considering the amount of people doing this and the fact that they’re often willing to pay, this could be a significant source of income, said TechCrunch.

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