Inside Reducto: From Pivot to Fortune 10 Customers, How to Build AI Products | CEO Adit Abraham

Описание: Adit Abraham is the Co-founder and CEO of Reducto. Reducto’s product takes PDFs and physical documents, and extracts all the data, just like a human would if they were reading it.

At the time of recording, they’ve processed over 1 billion pages, grew 6x over the past five months, and are fresh off a $75 million Series B led by a16z. And Adit told me they’ve only burned $1 million of capital so far to get here.

Anyone building an AI product probably sees Reducto as essential infrastructure. Our conversation gets into how they built the best product in the space, landing a Fortune 10 customer as a two-person startup, getting to $1 million in ARR within a few months, lessons doing founder led sales to over $5 million in ARR, and what the future of PDF’s, and human / computer data looks like.

Thank you to Liz Wessel at First Round, Chetan Puttagunta at Benchmark, and Adel Wu at Reducto for helping brainstorm topics for Adit.

Thank you to Numeral and Hanover Park for sponsoring this episode.

Numeral: The end-to-end platform for sales tax and compliance. Try it here: https://bit.ly/NumeralThePeel

Hanover Park: Modern, AI-native fund admin at https://www.hanoverpark.com/Turner

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Timestamps:
3:35 Reading unstructured human data
10:44 Growing 5x in four moths
12:38 Insurance, healthcare, legal, logistics
19:13 What LLM’s still struggle with
28:23 Starting Reducto from a blog post during YC
32:01 Landing a Fortune 10 customer
35:48 Limiting the product and growth early on
40:57 Getting an MIT professor fired
43:50 How to avoid pivot hell
49:00 $108M from First Round, Benchmark, a16z
51:48 Chetan convincing them to raise a Series A
55:50 Raising a Series B in 48 hours
59:36 Redeye flight to hire the 1st AI researcher
1:05:42 Lessons hitting $5m ARR with founder-led sales
1:13:09 Staying on top of changes in AI models

Referenced:
https://reducto.ai
https://reducto.ai/careers

Follow Adit
Twitter: https://x.com/aditabrm
LinkedIn:   / aditabraham  

Follow Turner
Twitter:   / turnernovak  
LinkedIn:   / turnernovak  

Sign-up here to get weekly episodes + transcripts in your inbox: https://www.thespl.it/