Mem Announces $23.5m Series A and New AI Features

Kyle Wiggers for Techcrunch:

Today, the OpenAI Startup Fund revealed that it led a $23.5 million investment in Mem, a work-focused app that taps AI to automatically organize notes.

The investment values Mem at $110 million post-money and brings the startup’s total raised to $29 million.

Mem recently launched Mem It for Twitter, which allows users to save threads, get AI-generated summaries of their contents and see suggestions for similar tweets. It’s also continuing to refine Mem X, Mem’s built-in work assistant, with new features like Smart Write and Smart Edit, which leverages AI to generate text based on a prompt, summarize files, generate titles for documents and let users use natural language commands to edit or format text.

The plan for the foreseeable future is to increasingly lean into these sorts of AI-powered experiences.

My congregations to the team on a well-deserved raise. I recently wrote about Mem, and it’s one of the stronger contenders among a slate of new apps vying to become the next gold standard in note-taking.

But I can’t help but scratch my head at these new AI features. Mem has an innovative UI, but there’s still much work to be done before Mem reaches the “table stakes” level for a note-taking app.

AI is a neat party trick, but I can’t see myself regularly using AI while, say, taking notes during a meeting with a new client or reviewing a work document.

I get that Mem needs to raise money, and that investors like party tricks. But, for the rest of us, we just want a notes app that reliably syncs across all of our devices and that has typing indicators when co-authoring a note with colleagues.

I hope the next Mem update focuses on some of these core notes features.