Driftt, A Cellular Collaboration Startup From Ex-HubSpot Execs, Buys Productiveness App Fetchnotes
Driftt, a Cambridge-based mostly collaboration startup based by ex-HubSpot execs and lately backed by $15 million in new funding, has acquired productiveness app maker Fetchnotes. The deal was particularly for the know-how and the product Fetchnotes had constructed, because it seems, as nobody from Fetchnotes’s 5-individual staff is becoming a member of is becoming a member of Driftt right now.
Launched by HubSpot and Performable execs David Cancel and Elias Torres, Driftt hasn’t disclosed the precise particulars of its product plans, however current reviews have indicated extra usually that it’s working within the group collaboration area, creating methods to assist groups work collectively on paperwork throughout totally different providers.
Buyers in Driftt embrace CRV, Common Catalyst Companions, NextView Ventures, Founder Collective and HubSpot founders Brian Halligan and Dharmesh Shah.
Driftt’s homepage factors to the corporate creating a cellular-first service, because it explains that its instruments are designed to assist customers “talk visually” with associates and associates “in actual-time out of your telephone.” And Driftt’s Twitter account has tweeted the occasional sneak peek at its app. The product, nevertheless, is in invite-solely mode presently.
We perceive that Driftt’s curiosity in Fetchnotes wasn’t essentially its cellular word-taking app, however fairly a brand new product referred to as Thready it had in improvement. Explains Fetchnotes co-founder and CEO Alex Schiff, the product they have been constructing forward of the deal was about creating shared areas with teams of individuals which you might throw something into – be it a observe, a file, a photograph, or no matter else. The thought had initially grown out of observing how a few of Fetchnotes’ prime customers had ended up utilizing the app – for light-weight cellular collaboration.
“We did lots of consumer analysis with the folks that have been sharing, and we discovered that what they needed wasn’t a bloated challenge administration answer or one other cloud-based mostly doc repository — they only needed a shared, easy, cellular-pleasant place to throw stuff,” writes Schiff on the Fetchnotes weblog saying their exit.
These shared areas could possibly be accessed by everybody from their cell phone, kind of like a shared Dropbox folder, however for any sort of content material. They usually might be used with anybody, even when they weren’t a consumer of the product itself, Schiff notes.
On the time of the acquisition, the product was in beta testing with round one hundred individuals.
From the sounds of issues, that imaginative and prescient aligns very intently with the course Driftt is additionally headed, which is what sparked curiosity within the deal.
“In the long run, we each need to assist individuals spend extra time doing the work they love and fewer time preventing the instruments they use to handle it,” says Schiff.
In the meantime, Driftt CEO David Cancel tells us that acquisitions like this one have been, partially, why the workforce raised the numerous spherical of out of doors capital, as an alternative of simply funding Drifft by themselves. And, he says, it’s going to be considered one of a number of extra acquisitions deliberate for later this yr. (Cancel declined to say how a lot they paid for Fetchnotes, however the app maker had a bit of over $850,000 in outdoors funding.)
Each he and Torres got here to HubSpot in 2011 following its acquisition of their personalization know-how startup Performable in 2011 for $20 million. They left final summer time to work on Driftt, simply forward of the HubSpot IPO.
“What we noticed in Fetchnotes was a product that’s really cellular first,” explains Cancel of the acquisition. “I consider Evernote, Dropbox, Slack and others are constructing superb merchandise however their merchandise are nonetheless ninety five% desktop-targeted with cellular appearing as simply an add-on,” he continues.
“On prime of that Evernote has ignored enterprise and enterprise customers. We plan on constructing out Fetchnotes to tackle that market. We’re going to do what we did at HubSpot and construct an all-in-one cellular platform for companies that frees individuals from having to take a seat in an workplace, or a chatroom, all day so as to be productive,” Cancel provides.
The Fetchnotes/Thready workforce can be remaining on in the intervening time in an advisory capability because the transition to Driftt completes.