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RealtimeBoard, a whiteboarding platform that allows teams to collaborate remotely, has raised $25 million in a series A round of funding led by Accel, with participation from Altair Capital.
Founded out of Perm, Russia in 2011, RealtimeBoard already claims more than 2 million users and 8,000 paying teams from such major companies as Netflix, Twitter, Hubspot, Airbnb, and Salesforce.
In a nutshell, the RealtimeBoard platform serves as a virtual canvas that lets teams draw up ideas and visualize concepts, and it can be used by anyone from marketers and product managers to designers and engineers, who can use it for planning, sketching, annotating, flow charting, and more. It also integrates with other productivity tools, including G Suite, Slack, Jira, Trello, and Dropbox, among others.
With an estimated 70 percent of people globally now working remotely at least one day per week, and major companies such as Amazon increasingly splitting their core workforce across multiple offices, it isn’t always practical to have everyone involved in a project together in the same place at the same time.
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That may be why digital team collaboration tools are drawing in big investor dollars. Productivity and task-management startup Asana, for example, raised $75 million earlier this year, while Monday.com closed a $50 million round to build next-gen team collaboration tools.
RealtimeBoard had previously raised $1.3 million from Altair Capital and a few other small raises from angel investors. With another $25 million in the bank, the startup said it will double down on efforts to scale its visual collaboration tool around the world.
“The nature of how we work today is changing, as companies increasingly enable distributed teams,” noted RealtimeBoard founder and CEO Andrey Khusid. “The big challenge has become maintaining smooth communication, understanding, and collaboration across the workforce. Our mission is to connect these dots for organizations and allow their teams to work as if they’re sitting next to each other, even if they aren’t.”
In terms of pricing, RealtimeBoard follows the usual freemium model. The free plan offers five editable boards and Slack integration, while the Team plan starts at $40 per month for five employees, going all the way up to $800 a month for 100 team members. This offers a bunch of extra features, including unlimited boards, guest access, video chat, and hi-resolution export, among other benefits.
Nabbing Accel as a backer is a major coup for RealtimeBoard, when you consider the caliber of other productivity and enterprise-focused companies in its portfolio, such as Slack, Dropbox, and Atlassian.
“There is a real and growing trend for distributed teams within organisations, and we believe that RealtimeBoard’s visual collaboration tool is the best product to bring them together,” added Accel partner Luciana Lixandru, who will now also join RealtimeBoard’s board of directors. “It has already amassed an impressive number of users who love the tool, and it will quickly become the gold standard for remote collaboration.”
RealtimeBoard still has a presence in its native Russia, but its 150 employees are now also spread across its main office in San Francisco, as well as offices in Los Angeles and Amsterdam,.
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