Swit, a collaboration suite that provides ‘freedom from integrations,’ raises $6 million in seed funding
A market dominated by Slack and Microsoft Teams, together with a number of different smaller office communication apps, may appear to depart little room for a brand new entrant, however Swit needs to show that mistaken. The app combines messaging with a roster of productiveness instruments, like job administration, calendars and Gantt charts, to present groups “freedom from integrations.” Originally based in Seoul and now primarily based within the San Francisco Bay Area, Swit introduced right this moment that it has raised a $6 million seed spherical led by Korea Investment Partners, with participation from Hyundai Venture Investment Corporation and Mirae Asset Venture Investment.
Along with an funding from Kakao Ventures final yr, this brings Swit’s complete seed funding to about $7 million. Swit’s desktop and cell apps have been launched in March and since then greater than 450 firms have adopted it, with 40,000 particular person registered customers. The startup was launched final yr by CEO Josh Lee and Max Lim, who beforehand co-founded public sale.co.kr, a Korean e-commerce website acquired by eBay in 2001.
While Slack, which recently went public, has turn into so synonymous with the area that “Slack me” is now a part of office parlance at many firms, Lee says Swit isn’t enjoying catch-up. Instead, he believes Swit advantages from “last mover advantage,” fixing the shortfalls of different office messaging, collaboration and productiveness apps by integrating a lot of their capabilities into one hub.
“We know the market is heavily saturated with great unicorns, but many companies need multiple collaboration apps and there is nothing that seamlessly combines them, so users don’t have to go back and forth between two platforms,” Lee tells TechCrunch. Many workers depend on Slack or Microsoft Teams to talk with each other, on high of a number of challenge administration apps, like Asana, Jira, Monday and Confluence, and e-mail to speak with individuals at different firms (Lee factors to a M.io report that discovered most companies use at the very least two messaging apps and 4 to seven collaboration instruments).
Lee says he used Slack for greater than 5 years and through that point, his teammates added integrations from Asana, Monday, GSuite and Workplace365, however have been unhappy with how they labored.
“All we could do with the integrations was receive mostly text-based notifications and there were also too many overlapping features,” he says. “We realized that working with multiple environments reduced team productivity and increased communication overhead.” In very giant organizations, groups or departments generally use completely different messaging and collaboration apps, creating but extra friction.
Swit’s purpose is to cowl all these wants in a single app. It comes with built-in Kanban job administration, calendars and Gantt charts, and on the finish of this yr about 20 to 30 bots and apps will likely be obtainable in its market. Swit’s pricing tier at present has free and commonplace tiers, with a premium tier for enterprise clients deliberate for fall. The premium model can have full integration with Workplace365 and GSuite, permitting customers to drag-and-drop emails into panels or convert them into trackable duties.
While being a late-mover provides Swit sure benefits, it additionally means it should persuade customers to change from their present apps, which is at all times a problem on the subject of attracting enterprise purchasers. But Lee is optimistic. After seeing a demo, he says 91% of potential customers registered on Swit, with greater than 75% persevering with to make use of it on daily basis. Many of them used Asana or Monday earlier than, however switched to Swit as a result of they wished to extra simply talk with teammates whereas planning duties. Some are additionally step by step transitioning over from Slack to Swit for all their messaging (Swit lately launched a Slack migration software that permits groups to maneuver over channels, workspaces and attachments. Migration instruments for Asana, Trello and Jira are additionally deliberate).
In addition to “freedom from integrations,” Lee says Swit’s aggressive benefits embody being developed from the beginning for small companies in addition to giant enterprises that also incessantly depend on e-mail to speak throughout completely different departments or areas. Another differentiator is that each one of Swit’s capabilities work on each desktop and cell, which not all integrations in different collaboration apps can.
“That means if people integrate multiple apps into a desktop app or web browser, they might not be able to use them on mobile. So if they are looking for data, they have to search app by app, channel by channel, product by product, so data and information is scattered everywhere, hair on fire,” Lee says. “We provide one centralized command center for team collaboration without losing context and that is one of our biggest sources of customer satisfaction.”