Circleback launches free tier to compete in crowded meeting note-taker market
Quick Look
- Circleback, a Y Combinator-backed meeting note-taker app founded in 2023, has introduced a free subscription tier allowing unlimited meeting transcriptions with 30-day history access to counter rising competition from Wispr, Calendly, Granola, Read AI, and Fireflies.
- The company, which raised $2.5 million in 2024 and claims profitability with over $1 million in run-rate revenue per employee, aims to grow its user base before monetizing through paid plans starting at $14/month.
AI-generated summary
Why It Matters
The meeting note-taker market has become increasingly competitive with recent entrants like Wispr and feature additions from established players like Calendly, prompting existing players such as Circleback to adjust their pricing and access strategies.
The meeting note-taker market is a crowded space. Just in the last few weeks, dictation app Wispr launched its own note-taker and scheduling app, and Calendly added a similar tool to its stack. Dedicated meeting note-takers like Granola, Read AI, and Fireflies have raised millions of dollars in funding.
Likely in reaction to the intensifying competition, Y Combinator-backed Circleback is introducing a free subscription tier to allow users to get a taste of its product. The new plan lets users transcribe an unlimited number of meetings though they can only access their history for the last 30 days (Granola added a similar tier a few months ago).
The free plan lets users record meetings, access mobile and Apple Watch apps, use AI to query transcripts, and integrate the app with Linear and Slack. If customers want all integrations, unlimited meeting history, and full API and MCP access, the subscription plans start at $14 per month (paid annually). Prior to this change, Circleback didn’t have any free tier, and its plans started at $20.83 per month.
Founded in 2023 by Ali Haghani and Kevin Jacyna, Circleback raised $2.5 million in 2024. The company says it has been profitable since then, and has been clocking run-rate revenue of over $1 million per employee with a team of eight people, which roughly translates to a run-rate of about $8 million.
Haghani said due to the previously limited trial period, the company saw a big drop-off in users, which is why it is introducing a free plan.
“If we just open the gates and allow more people to use the product, that’s gonna bring Circleback in front of more people. Then we’re very good at making the product good and monetizing those users,” he said.
The company says it doesn’t spend on Google Ads or Meta Ads, and this free tier will serve as marketing expenses.
Haghani said the company is not immediately looking to raise funds despite interest, as it doesn’t see any bottlenecks in its growth trajectory.
“We are consistently competing and winning customers against much bigger companies, both in terms of number of people and funding raised. And I feel like there is now more of an appetite to win,” he said.
He noted that the moment the company realizes that money can solve a problem it is having, the startup would be open to fundraising.
What to Watch
AI outlook — possibilities, not facts
Circleback will see increased user adoption due to the free tier launch
Likely · Within weeks
Circleback will remain profitable and not seek immediate fundraising despite interest
Possible · Within months
Open Questions
- What specific user acquisition or conversion metrics does Circleback expect from the free tier?
- How does Circleback's AI transcription accuracy compare to competitors like Granola or Fireflies?
- What are the long-term sustainability implications of claiming over $1 million in run-rate revenue per employee with an eight-person team?
