Another #MENA #startup
ecosystem win: #Dubai
has been acquired by #California
for an undisclosed sum, with the former’s team joining the latter to work on platform growth, as well as cutting edge #AI
research and development.
As a mobile app that made use of AI to auto-summarize meetings, Wrappup fits it neatly with Voicera’s own offering, which leverages a combination of voice recognition, natural language processing, and #machinelearning
to provide attendees of a meeting with a full recording and transcription, as well as high accuracy meeting highlights.
Voicera founder and CEO Omar Tawakol listed three main factors that drove Voicera’s decision to acquire the company. “First was the team. Wrappup has a very young, smart hardworking team that works like a #SiliconValley
startup. They shared our customer-focused ethic, and our drive for fast iteration to capture more customer feedback. Second, their understanding of the domain. What we are doing is very new. Building an interface that customers love is difficult. We saw their interface become simpler over time- which is a great sign. Finally, we were highly complementary. We didn’t have an app, and we needed an in-person meeting solution, and that is exactly what they had.”
Wrappup co-founder and CEO Rami Salman (@rambunctious13
) points to the startup's #acquisition
by Voicera as an especially significant moment for the MENA entrepreneurial ecosystem. “We’ve managed to export innovation out of a region that is used to importing innovation,” he said. “This is not a copy-paste application, but a new way of doing things, from the ground up. I believe we are all very proud to be a part of that story, and the region has truly supported us in getting there.”
Read on about their acquisition journey. Link in bio! 👆 (📝: @thisisaby
, 📷: @justwrappup