NEW YORK, Jan. 23, 2020 (GLOBE NEWSWIRE) -- Clubhouse, the collaborative home for modern software teams, today announced $25 million in Series B funding, bringing the total raised to $39 million. The round was led by Greylock Partners with participation from existing investors Battery Ventures and Lerer Hippeau. Clubhouse will use the new funding to accelerate its product innovation and scale the team as it looks to surpass the one million user milestone next year.
“Building great software is the basis of competition for more businesses in more industries than ever before,” said Sarah Guo, general partner at Greylock and Clubhouse board member. “Yet the aging tools used to organize software development often make the process harder, not easier. With their blazingly fast, simple yet powerful software project management, Clubhouse is reinvigorating a huge but long-stagnant market. They've demonstrated both scalability and developer love that we believe has enormous potential. We’re thrilled to partner with the entire team as they grow and provide companies with a better, collaborative home for software teams.”
“The hard truth is that we haven’t seen a modern vendor emerge in the last decade in the project management software space – despite huge changes in the overall software-development process,” said Neeraj Agrawal, general partner at Battery and Clubhouse board member. “We think Clubhouse is the new market entrant that can really shake up the sector. We have been extremely impressed with the company’s rock-solid team, innovative mindset and revenue traction to date, and we have high hopes for continued growth.”
Software project management tools are either too simple and do not scale as teams grow, or they are overly complex to the point where the only choice is to adopt multiple tools such as Atlassian’s Jira and Trello. These complex project management tools create silo effects that minimize collaboration and visibility between engineering teams and the rest of the organization.
“We recently moved off multiple project management tools to all lock arms in Clubhouse,” said Christine Spang, co-founder and CTO of Nylas. “With Clubhouse, we are able to track issues and collaborate successfully across departments. The team works faster and with less friction because managers and execs can trust the latest information is in Clubhouse without interrupting the team.”
From day one, Clubhouse’s philosophy has been to deliver products and features that are fast and enjoyable so teams can focus on what matters – working together to create quality software their customers love. Clubhouse is the first and only software project management platform that successfully bridges collaboration across high-growth businesses. The platform provides the perfect balance of simplicity and structure so product and engineering teams can effectively plan, collaborate and manage their work across the entire organization and it scales as their teams grow, without friction and bloat to slow them down.
“Clubhouse is built by engineers for engineers,” said James Turnbull, VP of Engineering at Glitch. “The workflow of the tool fits perfectly – we were able to get set up in less than 15 minutes. It makes my life easier and doesn't get in the way and allows me to focus on my team and my goals.”
“Clubhouse is redefining how quality software is created,” said Kurt Schrader, co-founder and CEO of Clubhouse. “We’re continuing to invest in building a faster and more powerful platform that will power modern software teams and their collaborators to do their best work, while being a joy to use.”
Major Company Milestones
- February 2016 – Clubhouse released its flagship product that is used by thousands of the fastest-growing organizations, including Dataiku, FullStory, Glitch, LaunchDarkly and Scale AI
- December 2017 – Clubhouse announced $10 million in Series A funding led by Battery Ventures
- October 2018 – Clubhouse released the Enterprise Edition of its flagship product, an enterprise alternative to Atlassian’s Jira
- September 2019 – Clubhouse introduced its second product, Write, a real-time collaborative knowledge-base tool and thousands signed up for the beta
- September 2019 – Clubhouse released a Free Plan that offers the full power of its flagship product for software teams up to 10 users and has grown its user base from 30,000 to more than 75,000 users today
Awards and Accolades
In the last 12 months, Clubhouse has been named one of 57 startups that will boom in 2019 in Business Insider, one of 12 companies to watch in 2020 by SD Times, one of 10 tech startups for 2020 that will help the world build more resilient, secure and observable software by Packt and an MIT Sloan CIO Symposium Innovation Showcase finalist.
Clubhouse is the collaborative home for modern software teams. Thousands of companies from all over the world use Clubhouse to plan, collaborate and build better software together. The company is headquartered in New York City and backed by Greylock Partners, Battery Ventures and other top tier investors. For more information, visit https://www.clubhouse.io or follow Clubhouse on Twitter @Clubhouse.
Media and Analyst Contact: