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Mycroft AI

Mycroft AI

The private voice assistant. For tens of thousands of users and dozens of companies Mycroft is the open alternative to Alexa or Siri.

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Deal Type

Convertible Note

Funding Goal


Current Reservations


Minimum Reservation


Deal Stage

Bridge to Series A

Interest (% per year)


Term Length (Months)

24 months

Valuation Cap


Conversion Discount (%)


Warrant Coverage (%)


Open Date


Closing Date


Elevator Pitch

Mycroft is a is private, secure and capable voice assistant for enterprises and individuals. For thousands of companies that see Amazon and Google as future competitors, Mycroft is the voice solution.


$95,000 Sales
35,000 Users
8 Employees

Company Overview





  • First corporate partners join the Mycroft Corporate Partnership Program.

    August, 2019
  • $642,323 in MkII Smart Speaker pre-orders.

    August, 2019
  • NASA Digital Voice Assistant STTR - Project Start

    August, 2019
  • Mycroft launches Corporate Partnership Program (MCPP)

    August, 2019
  • Mycroft Skill Marketplace is launched

    March, 2019
  • Mycroft successfully raises $1,070,000 via RegCF

    March, 2019
  • Mycroft production software release

    February, 2019
  • Alpha release of KDE based GUI

    December, 2018
  • Mycroft partners with leading KDE contributor group

    October, 2018
  • Mycroft begins to host open-source events in Europe

    August, 2018
  • Mycroft launches RegCF offering on StartEngine

    June, 2018
  • Mimic 2 speech synthesis project start

    April, 2018
  • $394,572 in MkII Smart Speaker pre-orders

    February, 2018
  • MkII Kickstarter reaches $150,000 in per-orders

    February, 2018
  • MarkII Smart Speaker Kickstart launch

    January, 2018

Press Mentions

Key Customers & Partners

NASA Jaguar Land Rover Texas A&M Mozilla 500 Startups Techstars Mass Challenge Cannonical Ltd. Sprint Accelerator Hello Tomorrow Techweek


Stephen Hays
Stephen Hays
Deep Space Ventures - Venture Partner
"Investing in Mycroft was a no brainer. Excellent team, incredible platform technology and the right approach to spreading the voice recognition revolution. We were able to make a decision and invest in about a week after our first call with Josh."
Mike Edelhart
Mike Edelhart
Social Starts - Managing Partner
"We were looking for a voice platform that could be the independent alternative to those from the bigger players. When we met Josh and the team at Mycroft, we felt we had found the right team, with the right approach at the right time. We were delighted to have the opportunity to invest."
Brett Bivens
Brett Bivens
‎Senior Venture Associate - TechNexus Ventu
"Voice control of devices and machines is playing an increasingly important role inside of large enterprises and Mycroft - which combines a top notch team with outstanding technology - is well positioned to take advantage of this massive market opportunity."
Kevin Dick
Kevin Dick
Right Side Capital - Managing Director
"They've got the great risk-reward profile we look for at the pre-seed stage. They've found a large unexploited niche in a huge space, validated demand, and built a substantial technical advantage."
Jono Bacon
Jono Bacon
Github - Director of Community
"The technology can be integrated far beyond the white box sitting on your kitchen counter and into Operating Systems, devices, connected home units, and beyond."
Maarten Ectors
Maarten Ectors
Ubuntu - Vice President Internet of Things
" is democratising voice commands for any device. The team is best in class. They have quickly and successfully created a community and sparked interest from lots of bigger companies. They are on their way to become the open voice control of the world which will make them a prime acquisition target for many."
Doug Dresslaer
Doug Dresslaer
Sprint Accelerator - Manager
"Mycroft has the right team to bring natural language processing to all connected devices. Their technical team has the talent and knowledge to be the leader in this huge market. They've built a great community of supporters and are working with large companies. Mycroft will be the leader in the field of open source AI and they have the ability to scale this business very quickly."

Previous Funding

  • $518,000 Convertible Note
  • Raise Source: Investors
  • August 2019
  • $1,070,000 Equity
  • Raise Source: Investors
  • March 2019
  • $165,000 Other
  • Raise Source: Other
  • February 2019
  • $1,800,000 Convertible Note
  • Raise Source: Investors
  • December 2018
  • $900,000 Debt
  • Raise Source: Investors
  • November 2018
  • $110,000 Other
  • Raise Source: Investors
  • May 2017
  • $340,000 Convertible Note
  • Raise Source: Investors
  • February 2016

Frequently Asked Questions

How do you generate revenue?

Mycroft provides a subscription back-end that allows users to process speech to text queries and access a host of APIs. This back-end can be white labeled for companies that want to integrate Mycroft into their products. We also provide support services for companies that want to integrate Mycroft into automobiles, speakers or even phone systems.

Does being open source help or hurt you?

Being open source helps us by increasing the size of our sales funnel and helping to build an active developer community around the technology. It also reduces risk for our customers. They know that they will always have access to the source code and, because Mycroft AI is here to help, they have access to paid support.

How big is your team?

We have eight employees. Our skills include deep learning, open-source community management, financial planning, marketing and industrial design. We are exactly the team needed to build Mycroft.

What is the involvement of the Foundry Group, Iron Gate Capital, Landscape Capital, Right Side Capital, Silicon Valley Bank and Walt Winshall?

Mycroft AI, Inc. has received a $100,000 convertible note from Star Power Partners II, a fund backed by well known investors including Draper Associates, the Foundry Group, Iron Gate Capital, Landscape Capital, Right Side Capital, Silicon Valley Bank and Walt Winshall. Investors in the company's current round will receive the same terms as these highly experienced and well respected investors.

Aren't your competitors huge? Won't you be crushed?

Voice platforms are a huge opportunity. This is why Amazon, Apple, Google and others have made significant investments in this space. It turns out there are a ton of corporate customers out there that want a great voice assistant, but don't want to send their data to Google or Amazon. This is great for us. It has raised awareness of the opportunity, helped us to identify likely customers and gives us a clear path to a successful exit.

How much of an advantage is the privacy aspect of your approach?

One of the major brands we've been working with has significant research on this subject and has informed us that more than 20% of buyers cite privacy as the critical requirement for buying a smart speaker. Privacy and security blunders by players like Apple, Amazon and Google have created a market opportunity for Mycroft.

How much of an advantage is the privacy aspect of your approach?

One of the major brands we've been working with has significant research on this subject and has informed us that more than 20% of buyers cite privacy as the critical requirement for buying a smart speaker. Privacy and security blunders by players like Apple, Amazon and Google have created a market opportunity for Mycroft.

Risks & Disclosures

The product is still in development. We are currently in the research and development and manufacturing phases for the customer-ready prototype of our product. The Mark I has already been developed and manufactured, but it is geared towards a more technical crowd. Delays or costs overruns in the development of our product and failure of the product to meet our technical requirements may be caused by, among other things, unanticipated technological challenges, difficulties in manufacturing, changes to the design, and regulatory hurdles. any of these events could adversely affect our operation performance and results of operations.

This is a startup company with a limited history. The company has a limited history with few enterprise clients and limited revenue resulting from them. If you are investing in this Company, it is because you think the product is a good idea and that the Company will be able to secure all the necessary intellectual property rights to develop the product. You further believe that the Company will be able to successfully manufacture, market and sell the product(s). We have sold about 5,000 units and we plan to mass market the product once it is ready for production. Further, we have never turned a profit and there is no assurance that we will ever be profitable.

Even if we raise the maximum sought in this offering, we may need to raise more funds in the future in order to be able to start manufacturing operations. The company may not sell enough convertible debt in this offering to meet its operating needs and fulfill its plans. Even if we sell all the debt we are offering, the company may need to raise more fund in the future, and if we cannot get them, we may not be able to continue. Even if we do have a successful offering in the future, the terms of that offering may result in your investment in the company being worthless because later investors might get different terms.

Company's business projections are only estimates. Any projection or forward looking statement regarding Company's anticipated financial performance are hypothetical and are based on Company's best estimate of the probably results of our operation. These projections will be based on assumptions which Company believes are reasonable. Actual results will likely vary from such projections and any projected results cannot be guaranteed. Company will only succeed ( and you will only make money ) if there is sufficient demand for this product, people believe it is a valuable product and Company has priced its product at a level that allows Company to make a profit and still attract future consumers.

Potential Market Competition. We will compete with larger, established companies who currently have product on the market and/or various respective product development programs. They may have much better financial means and marketing/sales and human resources than us. They may succeed in developing and marketing competing equivalent products earlier than us, or superior products than those developed by us. There can be no assurance that competitors will render our technology or products obsolete or that the products developed by us will be preferred to any existing or newly developed technologies. It should further be assumed that competition will intensify.

Patents. Intellectual property is a complex field of law in which few things are certain. It is possible that competitors will be able to design around our intellectual property, find prior art to invalidate it or render the patents unenforceable through some other mechanism. If competitors are able to bypass our future patent protection without obtaining a sub license, it is likely that the Company's value will be materially and adversely impacted. This could also impair the Company's ability to compete in the marketplace.

Potential Technology Failures. Interruptions or performance problems associated with our software solutions, platforms and technology may adversely affect our business and operating results.

New Technology Roadmaps. When investigating new technologies to implement your software, there are often times that the said technologies are not mature as they need to be for full functionality.

Security Regulation. Congress and the SEC enact regulations to give companies guidelines on what is compliant and what is not. Mycroft AI Inc. consistently looks to our legal team and the SEC for guidance around existing regulations, and in places where there is no clear regulation.

Related Party Transactions. Mycroft AI Inc. purchases broadband services and leases office space from Community Wireless Communications Co. and Middlebrow, Llc both of which are owned or controlled by Joshua Montgomery and Kristie Adair. Mycroft was conceived, funded, founded, designed, and built in the co-working space/data center/makers space jointly operated by Middlebrow, Llc and Community Wireless Communications Co. and has continued to host equipment and personnel in this space.