A Concept spokesperson verified the raise and appraisal to TechCrunch.
As start-ups throughout the board start looking at layoffs or raising at less than favorable terms, Concept had remained in the unusual position of turning away interested investors for many years. With this raise, the firm has actually accumulated $67 million in total funding, the company says. Their last raise of $10M valued them at $800 million.
The business’s extremely adjustable note-taking app enables enterprise clients to create connected networks of databases and documents.
In November, COO Akshay Kothari informed TechCrunch that the business was hoping not to raise outdoors financing once again, “So far one of the things we’ve discovered is that we haven’t actually been constrained by cash. We have actually had opportunities to raise a lot more, however we’ve never felt like if we had more money we might grow much faster.”
What’s altered? Simply the global economy. The company informed the Times that this new raise should put them in a more steady position and leave them with enough funding for “a minimum of” ten years. That stated, the startup’s team has actually expanded quickly in recent months, growing 40% because November. Their user numbers appear to likewise be proliferating, with Kothari informing the Times that total users have actually “almost quadrupled” from one million, a figure the business released in early 2019.
Concept uses complimentary and paid accounts, ranging from $5 to $25 billed monthly.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.