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AI storytelling startup Tome records fast user growth, to launch paid tier soon

As demand for AI products rises, the artificial intelligence storytelling company Tome has seen its user base triple in a month to 3 million and plans to introduce a paid subscription in the coming weeks, according to Chief Executive Keith Peiris.

The newest foundation model from Microsoft-backed OpenAI, GPT-4, is used by Tome’s document-to-presentation feature. The feature competes head-to-head with Microsoft’s AI “Copilot” by allowing users to convert a document of up to 25 pages into AI-generated slides with text and soon pictures.

In a race with the Big Tech, like Microsoft and Google, AI productivity startups like Tome are developing products that could revolutionise how people write and interact at work.

“It’s a push into work and enterprise use cases for us after all the demand we’ve seen,”Co-founder of Tome Peiris said.
“We want to use AI to shape and aid in every part of the process of taking an idea in your head and then translating it to a compelling story.”The San Francisco-based company recently received $43 million in a funding round headed by Lightspeed Venture Partners at a $300 million valuation, which coincided with the user growth and product launch. It also has the support of Greylock and Coatue.

The use of Tome’s product is currently free, but Peiris said the company will soon introduce a paid tier that will cost about $10 per month and provide users with unrestricted access. Both college students and many startup customers are served by it.

“Startups tend to be faster, moving, iterating and deploying new technologies because they don’t have an existing customer base,”said Reid Hoffman, a Greylock investor and member of the Microsoft board of directors who made an investment in Tome.

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