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The software company focuses on the worker by combining a range of tools and services into a single package. Hive features project layouts that allow you to perform multiple functions within itself. It has a to-do list function and also comes with chat functions with options to make video calls. Hive also allows you to take notes and send emails while making use of its platform
Fremont, CA: New York-based productivity platform startup Hive raised USD 10.6 million in a Series A funding round led by Comcast Ventures, with participation from existing seed investors Tribeca Venture Partners, Vocap Investment Partners, and Rembrandt Venture Partners. This new round of funding brings the company's total raised capital to USD 16.7 million. The investment comes at a time when the company has been performing well. In 2018, the company quintupled it's revenue and attracted new giant customers like Starbucks, Google, WeWork, Uber and the United States Government.
“Why do we shackle talented teams with 40-year-old technology? It’s easier for me to see what my friends ate for brunch than to see what my colleague is working on,” said John Furneaux, CEO, and co-founder of Hive. "Hive delivers what everyone has been requesting for decades - a simple platform to use each day to get things done as a team. Ask yourself how many times a week you attend a meeting, and want everyone present to know their next steps. How about knowing whether they've been done? This stuff is simple for Hive teams. That's the magic of Hive. It's not just a tool for the Silicon Valley elite - it's a helping hand for everyone."
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The software company focuses on the worker by combining a range of tools and services into a single package. Hive features project layouts that allow you to perform multiple functions within itself. It has a to-do list function and also comes with chat functions with options to make video calls. Hive also allows you to take notes and send emails while making use of its platform. Hive faces significant competition in the likes of Mavenlink, Monday.com, and RealtimeBoard in the project management and collaboration market, which is anticipated to be worth $6.68 billion by 2026. However, its extensive customer base comprised of Uber, Marriot, Starbucks, The Economist, Compass, Omnicom, Harvard, New York University, North Carolina State University, The University of Michigan, Burrow, WeWork, AdRoll, StoryChief Essence, WPP, and Resolution also signifies how much the company has achieved in a short period.
"More companies from small businesses to large enterprises are poised to embrace process management tools and automation at scale," said Andrew Cleland, managing director at Comcast Ventures. "Hive has produced one of the best-rated products on the market, and we're thrilled to partner with the management team to accelerate the company's growth," added he.
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