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Redbooth, a startup with software that employees can use to manage and communicate about projects, has raised an $11 million funding round. Word of the new round came in the form of a U.S. Securities and Exchange Commission filing today.
The startup integrates with cloud-storage tools from Google, Box, and Dropbox, and it offers an application programming interface (API) developers can use to tie Redbooth into other software. But part of the appeal of Redbooth is its wide portfolio, which features file storage, chat, high-definition video conferencing, and project management tools — for a price that won’t make a company bankrupt.
“Our ability to tie chat into the workflow of getting things done makes us different from any other vendor out there,” Dan Schoenbaum, Redbooth’s chief executive, told VentureBeat in an interview.
Companies offering multiple collaboration tools and therefore representing competition to Redbooth include Citrix’s Podio and Huddle, among others. As for companies with dedicated chat, video, file storage, project-management, or note-taking software — they’re mere “point solutions,” at least in Schoenbaum’s opinion.
Now, Schoenbaum said, Redbooth can keep integrating with software big companies already work with — like CA’s Clarity software for project management and Salesforce.com’s software for tracking sales leads. Plus, Redbooth can spend more on sales and marketing in order to pick up more customers, of which there are already more than 5,500.
Ninety percent of customers pay for cloud-based Redbooth software, starting at $49 a month. The price doubles if companies want to run the software in their own data centers.
Fundamentally, even though Redbooth can step in and provide several tools to share ideas about projects, Schoenbaum knows it’s unreasonable to expect every company to drop all the services they happily pay for.
Instead, he said, Redbooth employs an “embrace and extend philosophy.”
Altpoint Ventures led the round. Avalon Ventures also participated.
Data Collective participated in last year’s $5 million round in the startup, which back then was named Teambox. To date, the startup has raised $17.5 million.
Redbooth started in Barcelona in 2008 and is based in Redwood City, Calif.
Customers include Airbnb, Apple, Deutsche Telekom, Harvard University, Spotify, and Volkswagen Audi.
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