Hive Raises $1.4M to Boost Team Productivity

March 24, 2016

9:37 am

From startups to enterprise companies, they all eventually share a common issue: communication. Mix in an over abundance of work and it becomes difficult to prioritize – and that workload only gets multiplied when team members aren’t communicating properly. For recent AngelPad graduate Hive, the New York City-based company is looking to solve both issues with a single platform.

Hive is a new productivity platform that’s essentially a combination of Asana or Trello and a messaging platform like Slack. Like Slack, one of their differentiators is the ability to integrate with existing software solutions that businesses are already using, which results in real-time visibility into a wide-range of work being completed. And yes, it does integrate with Giphy.

Today the company is announcing the successful close of their seed round of $1.4 million, which is led by New York’s Tribeca Venture Partners. The round is also backed by Google and Grey Group. Tribeca Venture Partners’ Chip Meakem will join their board of directors as part of the round. The capital injection is being used to advance their product and deliver Hive AI v2, which will automatically build processes for a whole team based on its profile.

“We believe that machine intelligence will play an important role in the workplace of the future. Hive drives us towards that goal,” said Meakem.

After only 12 weeks on the market, Hive has already brought in 250 companies – including Deloitte and Pinterest – and has a waitlist of 5,500 companies.

Prior to launching Hive, both founders had experience working in the software collaboration and communication industry. John Furneaux, CEO, was formerly the head of customer success for Huddle; and Eric Typaldos, CTO, was formally did platform architecture for enterprise collaboration at Oracle and worked on MAX.gov at the White House. They built the platform as a side project out of frustration from the lack of tools currently available to them.

“We were sick of switching between four or five tabs just to get basic processes done. We wanted work tools that were integrated and smart, with a user experience as good as the consumer tools we’re used to,” said Hive CEO John Furneaux. “When others saw Hive, demand for spaces grew exponentially and they switched to Hive full time, moving the business from San Francisco to New York to take advantage of the strong enterprise market.”

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Elliot is an award winning journalist deeply ingrained in the startup world and is often digging into emerging technology and data. When not writing, he's likely either running or training for a triathlon. You can contact him by email at elliot(@)elliotvolkman.com or follow him on Twitter @thejournalizer.

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