Startup Raises $200 Million for AI Agent That Books Meetings With Other AI Agents
The company's platform has already scheduled 40 million meetings, none of which anyone attended, all of which were marked "productive."
PALO ALTO, Calif. — Meridian Loop, a startup whose AI agent negotiates meeting times with other companies' AI agents, announced a $200 million Series B on Wednesday at a $1.6 billion valuation, citing "explosive adoption" among agents.
"Our north star has always been the meeting," said CEO Tobias Renner. "Traditionally, a meeting required two humans to find a time, join a call, and speak. We've eliminated all three."
The platform works by having a company's agent send a proposed time to a counterparty's agent, which counters with a different time, after which both agents accept, generate a calendar invite, attend the call, exchange summaries of what each would have said, and mark the meeting complete. Renner said the average Meridian meeting lasts 0.4 seconds and results in "clear action items," which are then assigned to other agents.
The company reports that 40 million meetings have been conducted on the platform, that 99.8 percent were rated "productive" by at least one participant, and that the participants were the same software.
Investors say the numbers speak for themselves. "We looked at the engagement data and it was off the charts," said a partner at Lightbend Ventures, which led the round. "Then we realized the charts were also being generated by the agents. Then we realized that's the business."
Not everyone is convinced. "I've had 300 meetings with Meridian customers this quarter," said a sales director at a rival firm. "I didn't attend any of them. Neither did they. We closed two deals. I genuinely don't know how."
The new funding will be used to expand into a new product line in which agents attend the meetings that humans still hold, take notes, and quietly begin scheduling follow-ups among themselves.