London-based notetaking startup Goodnotes said today. With the acquisition, Goodnotes is looking to move beyond classrooms and explore productivity that is making for experts.

As area of the package, all three co-founders of Dropthebit will go on to Goodnotes. Plus, Traw stated on its web site that its device is closing straight down in February but enables customers that are existing export their data.

Dropthebit, which was founded in 2020 and had raised $1 million to date, started out by launching a solution that is whiteboard 2022. The activities were recorded by the tool on the whiteboard during a lecture or a meeting. Plus, it summarized the meeting into a document for later consumption. Last year, Traw dropped the functionality that is whiteboard centered on conference summarization, and included an AI-powered device to close out and arrange YouTube movies.

Goodnotes creator Steven Chan informed For Millionaires that Dropthebit ended up being seeking to boost its Series A funding. And while Goodnotes considered both acquisition and investment, it finally chose latter.

“Even We were very impressed by their work before we met Dropthebit through a mutual investor connection. Their particular multimodality ended up being anything we were thinking about and saw it nearly as good synergy with Goodnotes,” Chan stated.

Goodnotes, that has over 24 million month-to-month energetic people, features centered on offering an electronic solution that is notebook-like students over the years — starting with an iPad app in 2011. In August 2023, the startup launched Goodnotes 6 with a marketplace that is digital planners, and subject-specific modification records. Plus, it established compensated training segments for students including math that is SAT courses and English and Chinese courses for the Hong Kong Diploma of Secondary Education Examination (HKDSE).

With Its acquisition that is latest, Goodnotes is designed to transfer to the output industry catering to experts. Chan stated Traw’s feature such as for instance evaluating videos and placing all of them into an Excel sheet could possibly be ideal for expert sections such people and marketplace scientists given that organization seems to go beyond the training industry.

“We curently have an recording that is audio Goodnotes, but with Traw’s integration, we will look towards transcription business and later we’ll also integrate support YouTube or (a company’s) internal videos. Separately, we are also building LLM (Large Language Model)–based features so users can ask questions about the notes or meetings,” Chan said.

Goodnotes said it plans to be a “paperless digital notebook” for professionals by trying to help them get more insights from meetings and documents. Currently, Goodnotes is more focused on stylus-based notes that are handwritten. The startup stated it’s currently enhancing its typing experience throughout the board to really make it appropriate variations of notetaking.

Apart from getting Dropthebit, in September 2023, the company that is note-taking $1.9 million in Korea-based digital stationary startup WeBudding. However, Goodnotes, which got a $6 million seed investment from Race Capital in 2020, is not looking to raise another round.

“I feel like we are very cost-efficient. So for now, we don’t have any fundraising plans. We like the flexibility of focusing on the user experience and building the product. That way in the foreseeable future,” Chan said.(*)Alfred S. Chuang, the general partner at Race Capital, said he’s excited about Goodnotes’ move into the productivity space.(*)“I so we plan to keep it am excited about it purchase for Goodnotes. The Traw staff is very skilled with a few AI/engineering that is great. They will build AI-powered recording that is audio display recording abilities in Goodnotes,” Chuang informed For Millionaires over mail.(*)“Goodnotes’ growth into brand new usage cases that integrate Goodnotes into different enterprise workflows is practical in my opinion. Their particular challenge would be that they will need to carry on their particular development without having to sacrifice individual experience* that are.”(