August 7, 2020

$35 Million Raised by ClickUp through Craft Ventures

The use of subscriptions based productivity software has been on the rise for quite some time. There are a number of management tools that provide services specifically for a single group of persons. And then there are certain companies that provide simplified team management software solutions to their customers for a monthly subscription. Platforms like these increase productivity and decrease costs associated with it by providing a variety of options under a single software subscription. ClickUp is a monthly subscription-based service that belongs to the second group of companies.

A monthly subscription of $5 is provided by ClickUp in which they provide services like task management software, docs, wikis, and chat integration along with a number of other services. ClickUp provides a list of services which are quite robust and malleable according to the task. ClickUp is different because it provides all services in a single bundle like chat with task management and docs and wikis with the OKR. According to ClickUp’s creator, it is a highly flexible system that is suitable for teams of all sorts and sizes.

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Recently the startup has scored a Series A round of $35 million from the Craft Ventures along with Georgian Partners. As a result of the investment co-founder of Craft Ventures David Sacks has joined the board of ClickUp. This is the startups’ very first outside capital and they plan on using the money to expand their services. According to the startup’s founder Zeb Evans, they plan on using this investment to increase their employee size from 100 to around 500 by this year’s end. They also plan to introduce more languages, user geographies, and start paid marketing to promote the product.

Zeb Evans has a vision for the startup and takes pride in offering new features to their customers on a weekly basis. Evans wishes to accelerate the process by hiring new personnel from the funding that they have received. Recently ClickUp has launched Remote Work OS, which gives a better screenshot of what everyone is doing and helps fit inside broader company goals. The launch of Remote Work OS could not be timed any better as the world is settling in due to the pandemic and getting more and more used to working remotely from their homes.

According to Evans, the company has around 100k customers with over a million users worldwide. These customers are situated in big tech companies like Google, Uber, Airbnb, Ubisoft, and Netflix. The startup offers two basic plans:

  • A free plan that includes unlimited numbers of users and unlimited numbers of tasks but very limited space of only a 100mbs for file attachments.
  • A premium $5 plan includes unlimited storage, unlimited views, unlimited integrations, unlimited dashboards, guests and permissions goals, portfolios, and custom fields.
  • They also offer a custom plan for bigger companies and enterprises, you can get more information on this by contacting ClickUp.
  • The unlimited offer comes in either annual billing of $5 or a monthly billing of $9.

The company is relatively new and this is its first funding from an outside investor. The company has big plans and is quite optimistic about it. Let us see how ClickUp performs over time.

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