Fellow.app’s meeting productivity software attracts $ 24 million
Meeting productivity software startup Fellow.app has secured US $ 24 million in Series A funding as the COVID-19 pandemic has made the need for digital productivity tools more critical than ever.
The round was led by Craft Ventures, the Silicon Valley venture capital firm, a new investor for Fellow.app but which was created by venture capital firms whose portfolios include Facebook, Twitter, Airbnb, Twilio , Cloud9 and Hootsuite.
Formentera also joined as a new investor; the company a creation of executives from Dialogue and Cesium. Inovia Capital, a returning investor for Fellow.app, and Silicon Valley Bank (SVB) also participated in the round.
Fellow.app is also supported by Felicis Ventures and Garage Capital (created by Vidyard co-founders Devon Galloway and Michael Litt). Along with Inovia, they also participated in the Fellow.app seed round of C $ 8.58 million (US $ 6.5 million) in 2019. Both rounds carry Fellow.app’s total funding to date. to about 30.5 million US dollars.
The arrival of Craft Ventures also brings the expertise of David Sacks, member of the “PayPal Mafia” and creator of Yammer, which was acquired by Microsoft for $ 1.2 billion; Jeff Fluhr, the co-founder of StubHub (acquired by eBay for $ 310 million); and Bill Lee of the Pioneer Web 1.0 Company Remarq.
Fellow.app is a SaaS company that has developed meeting productivity software for teams. Its products are support tools such as templates for meetings, agendas, a feedback portal, as well as task and productivity tracking; all intended to help managers and teams to work more easily. Fellow.app offers integrations with a number of other work tools, including Google, Zoom, and Slack.
The startup was created by CEO Aydin Mirzaee, Samuel Cormier-Iijima (CTO) and Amin Mirzaee (CPO). The trio also created Fluidware, which seeded at just under 100 employees before being acquired by SurveyMonkey in 2014. It was working at Fluidware and becoming part of SurveyMonkey, which gave the founders the big picture. the inner workings of a larger organization and sparked the idea of ââFellow.app.
Mirzaee told Techcrunch that he currently sees few solutions specifically designed for meetings on the market like Fellow.app. âOur vision is to create a meeting productivity product aimed at helping managers organize productive meetings and then manage their teams,â he said.
The Ottawa-based startup was founded in 2017 and has attracted a list of clients including Vidyard, Uber, Stanford University and Motorola.
With a software platform packed with a set of tools designed for remote working, it’s no wonder that Fellow.app has more than tripled its customer base since signing Shopify as its first in 2019. Fellow.app began with beta testing with 200 Shopify employees, who provided feedback that helped the team grow their offering.
The need for social distancing amid COVID-19 has led to a dramatic increase in the number of remote workers which is believed to continue even though lessons from the impact of the pandemic are learned. And with this style of working comes the need for tools like Slack, Zoom, Trello, and Google Hangouts. The number of tools can quickly add up, and Fellow.app’s goal is to be a âco-pilot,â or toolkit, for managers, whether remotely or in person.
The company now claims to have more than two million meetings, agendas and notes hosted on its platform.