Almanac, a San Francisco-based collaboration startup, closed a $34 million Series A funding round to revolutionize how remote work teams collaborate.
The funding round was led by Tiger Global and counted with participation from firms like Floodgate Fund and General Catalyst. Joshua Reeves, Ryan Caldbeck, Alex MacCaw, Zack Kanter, and Jack Altman are some of the more than 50 angel investors who also participated in the firm. Mike Maples of Floodgate Fund referred to the round by stating:
“We’re at the beginning of a generational shift in how work gets done. Companies are shifting from office culture to cloud culture where people can work anywhere. Office culture is driven by meetings for managers. Cloud culture is driven by builders who express their thinking clearly and help teams move in a clear direction. The companies that win in the future will embrace cloud culture because the best people will not want to be constrained with yesterday’s limitations.”
Almanac offers an operating system that facilitates collaboration among remote and distributed teams by providing tools specifically designed specifically for their needs. The startup’s solution aims to decrease burnout and retention data while improving productivity. Adam Nathan, Almanac’s Chief Executive Officer, referred to the startup’s mission by saying:
“Work has changed. The meeting isn’t where decisions that drive the business happen anymore—the document is. If you want to win in this digital, distributed era, you need tooling designed from the ground-up for this reality. Microsoft Office has been a great tool for office-centric companies, but it’s not built for a distributed world where the best workers can be anywhere. What we’re building at Almanac is not just a better version of core productivity software: it’s infrastructure that reflects how management and collaboration should happen in this new era of distributed work. That’s why our customers say buying Almanac is a cultural choice, not just a technical one.”
The new funding will allow the collaboration startup to continue expanding its solutions, which include document editing, version control, and asynchronous workflows. With studies suggesting that more than 25% of employees prefer fully remote work and 60% a form of distributed work, demand for remote working solutions has increased after the COVID19 pandemic, which has boosted the startup’s growth.
