Daily, a startup that provides a suite of productivity tools for businesses, recently announced that it has raised $40 million in a Series thepastrybag B funding round. The round was led by 8VC, with participation from existing investors Sequoia Capital, and Cowboy Ventures. The funding will be used to expand Daily’s product offerings and accelerate its growth, as the company seeks to establish itself as a leading provider of productivity tools for businesses of all sizes.
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Daily was founded in 2019 by Kintan Brahmbhatt and Arif Janmohamed, two former executives at Dropbox. The company’s flagship product is a virtual meeting platform that allows users to host and participate in video meetings sscialisvv from anywhere in the world. The platform is designed to be easy to use and highly customizable, with features like custom backgrounds and the ability to share screens and files during meetings.
In addition to its virtual meeting platform, Daily also offers a range of other productivity tools designed to help businesses streamline their operations and improve collaboration. These tools include a task manager, a team directory, and a project management tool, all of which are integrated with the virtual meeting platform to provide a seamless and comprehensive productivity solution.
The $40 million Series B funding round comes just months after Daily raised $15 million in a Series A funding round, led by Cowboy Ventures. The rapid pace of fundraising reflects the strong demand for Daily’s products and the company’s rapid growth since its launch. Daily has seen a surge in demand for its virtual meeting platform cialisvvr in particular, as businesses around the world have shifted to remote work in response to the COVID-19 pandemic.
According to Kintan Brahmbhatt, CEO and co-founder of Daily, the new funding will be used to further develop Daily’s suite of productivity tools and expand its reach to new customers. “We’re thrilled to have 8VC lead this round and partner with us as we build the next generation of productivity tools for businesses,” he said in a statement. “Our goal is to help teams be more productive and collaborative, no matter where they’re located, and this funding will help us accelerate our mission.”
In addition to the $40 million Series B funding round, Daily also announced that it has secured a $60 million credit facility from Silicon Valley Bank. The credit facility will provide Daily with additional capital to fuel its growth and expansion, as the company seeks to establish itself as a leading player in the productivity tools market.
The market for productivity tools is highly competitive, with a wide range of companies offering solutions for everything from virtual meetings to project management and task tracking. However, Daily’s focus on providing a comprehensive suite of tools that are highly customizable and easy to use sets it apart from many of its competitors. The company’s rapid growth and strong investor backing also suggest that it has a promising future in the highly competitive productivity tools market.
Looking ahead, Daily plans to clarisbcn continue expanding its product offerings and improving its existing tools to better serve the needs of its customers. With its recent funding and strong momentum, the company is well-positioned to establish itself as a leader in the productivity tools market and help businesses around the world become more efficient and collaborative.
