U.S. markets closed
  • S&P 500

    3,269.96
    -40.15 (-1.21%)
     
  • Dow 30

    26,501.60
    -157.51 (-0.59%)
     
  • Nasdaq

    10,911.59
    -274.00 (-2.45%)
     
  • Russell 2000

    1,538.48
    -23.10 (-1.48%)
     
  • Crude Oil

    35.72
    -0.45 (-1.24%)
     
  • Gold

    1,878.80
    +10.80 (+0.58%)
     
  • Silver

    23.72
    +0.35 (+1.52%)
     
  • EUR/USD

    1.1641
    -0.0037 (-0.31%)
     
  • 10-Yr Bond

    0.8600
    +0.0250 (+2.99%)
     
  • GBP/USD

    1.2953
    +0.0030 (+0.23%)
     
  • USD/JPY

    104.6350
    +0.0250 (+0.02%)
     
  • BTC-USD

    13,859.12
    +140.32 (+1.02%)
     
  • CMC Crypto 200

    265.42
    +1.78 (+0.68%)
     
  • FTSE 100

    5,577.27
    -4.48 (-0.08%)
     
  • Nikkei 225

    22,977.13
    -354.81 (-1.52%)
     

Clockwise Raises $18M in Series B Funding Led by Bain Capital Ventures

·4 mins read

Investment fuels expansion as smart calendar innovator also announces the launch of Clockwise for Teams, a time management toolkit for remote teams

Clockwise, the smart calendar assistant, today announced an $18M Series B funding round, led by Bain Capital Ventures. Ajay Agarwal at Bain Capital Ventures joins the board of directors, along with existing investors, Steve Loughlin at Accel and John Lilly at Greylock Partners, who also participated in this round. The Series B investment brings the company’s total funding raised to $31.6M and builds on the company’s momentum, including 87 percent growth in signups since the beginning of 2020. The financing will be used to grow the Clockwise team and continue innovating in the workplace calendar space.

"In a business world increasingly reliant on the productivity of information workers, Clockwise delivers significant time savings to individuals, teams, functions and organizations," said Ajay Agarwal at Bain Capital Ventures. "Over the past several months, Clockwise has seen material acceleration in their user growth as remote workers search for smart technology to streamline meetings and create necessary space in their days, and employers simultaneously address the urgent need to analyze time spent. We are thrilled to partner with Matt and the Clockwise team as they continue to expand on calendar automation and reimagine workplace productivity."

As the first company to introduce the concept of flexible meeting times into the workplace, Clockwise has helped popularize and democratize the concept of Focus Time. Since launching in 2019, Clockwise has optimized more than 200,000 calendars for workers at companies like Slack, Asana, and Spotify.

"Clockwise started with a simple mission to help workers make time for what matters. We delivered on that mission with our intelligent calendar software that allows workers to take back control of their day," said Matt Martin, Clockwise Co-Founder and CEO. "This new funding enables us to accelerate our growth and build the future of calendar today."

Clockwise is revolutionizing the way teams spend their time, taking the busywork out of scheduling and using artificial intelligence to create more productive time during the work day. It turns fragmented time, 15 minutes here and 30 minutes there, into longer blocks of time allowing workers to get meaningful work done.

Since the move to remote work, Clockwise has seen a 29% increase in the time spent in team sync meetings, likely due to managers trying to replicate in-office collaboration remotely. To address this growing problem, the company today is also announcing the launch of Clockwise for Teams, a time management toolkit for remote workers.

Clockwise for Teams enables effortless communication and collaboration between teammates to make working together frictionless.

"The last few months have challenged workers, more than ever, to find the time to actually get work done during increasingly hectic days," said Martin. "The launch of Teams caps over a year of tremendous progress and the beginning of an exciting new phase of product development at Clockwise."

Clockwise for Teams includes:

  • Team Availability Calendar: Eliminates the chance of being surprised by an out of office teammate. The team availability calendar updates in real time with no manual work, so it is always up-to-date.

  • Team Time Analytics: Allows teams to see at a glance how much Focus Time and meeting time everyone on their team has. Forecast team productivity more accurately and see who’s overwhelmed and who has capacity without needing to ask.

  • Automatically Protected No-Meeting Day: Maximizes Focus Time by automatically creating and protecting a meeting-free day.

With this innovative product and user growth momentum, as well as the new funding, Clockwise will also broaden availability across a greater variety of platforms, currently only available to G-Suite users on desktop. Expansion will allow workers to experience the magic of Clockwise wherever they work, whether on Office 365 or their phone.

Learn more at getclockwise.com.

About Clockwise:

Clockwise is an intelligent calendar assistant that frees up your time so you can work on what matters. We use AI to understand your work and life commitments and automatically organize your calendar to help you focus on your priorities. Clockwise creates uninterrupted blocks of time to get things done and takes the stress out of complex scheduling across teams, double bookings and so much more. We know that calendars are broken and aren't helping people do their best work. At Clockwise, we make your calendar work for you.

Clockwise was co-founded by Matt Martin, Mike Grinolds and Gary Lerhaupt in 2016 and is headquartered in San Francisco, CA. For more information, visit getclockwise.com.

About Bain Capital Ventures:

Bain Capital Ventures partners with disruptive founders to accelerate their ideas to market. The firm invests from seed to growth in startups driving transformation across industries, from SaaS, infrastructure software and security to fintech and healthcare to commerce and consumer tech. The firm has helped launch and commercialize more than 240 companies, including DocuSign, Jet.com, Kiva Systems, Lime, LinkedIn, Rapid7, Redis Labs, Rent the Runway, Rubrik, SendGrid and SurveyMonkey. Bain Capital Ventures has $5.2 billion in assets under management with offices in San Francisco, New York, Boston, and Palo Alto. Follow the firm via LinkedIn and Twitter.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200616005294/en/

Contacts

Pitch PR, Jackie Copp
jackie@pitchpublicrelations.com
480.606.8180