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Clockwise CEO Matt Martin: How we closed an $18M Series B during a pandemic

Clockwise CEO Matt Martin: How we closed an $18M Series B during a pandemic

Matt Martin
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Matt Martin is CEO and co-founder of Clockwise, a San Francisco-based software program firm.

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It all began with an e mail from a buyer: “Do you recognize why Bain Capital Ventures is reaching out to me about Clockwise?”

That e mail would mark the start of a journey towards closing $18 million in new funding that can dramatically speed up my firm, Clockwise . It would require attending to know a associate in lockdown, lengthy nights assembling a pitch deck and plenty of bleary-eyed Zoom calls with a few of the finest VCs on the planet.

Here’s how Ajay Agarwal from Bain Capital Ventures and I established belief on-line, how I made high-stakes choices in excessive financial uncertainty and the way we had been capable of flip the pandemic’s constraints into alternatives.

Let’s begin originally.

Building momentum: 2016 to 2020

Clockwise was based in late fall of 2016. We realized that, as private as time is, our schedules inside trendy work environments are intertwined by a community of calendar occasions and attendees. People schedule conferences with out contemplating the preferences of colleagues by merely trying to find any accessible “white house” (learn: time to do actual work). The internet impact is that our most useful useful resource, time, is simple to take and virtually not possible to guard.

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More than two years later, in June of 2019, we launched Clockwise to the general public. After years of experimentation and refinement, we delivered to the world an clever calendar assistant that frees up your time so you’ll be able to concentrate on what issues. Workers quickly confirmed our hunch that they’re hungry for a software that offers them extra productive hours of their day. Our speedy consumer progress carried all through 2019.

By January of 2020, we had been on fireplace. Since January 1, our consumer base has grown by greater than 90%, increasing at a clip of properly over 5% week-over-week. As individuals sought distant instruments throughout shelter-in-place, our charge of progress accelerated even additional.

Our progress, unimaginable workforce, top-tier current buyers (Accel and Greylock) and robust money place meant we didn’t want to lift extra capital till the autumn of 2020. While COVID-19 actually despatched shock waves by means of the neighborhood, I used to be in common communication with a number of extremely engaged buyers who nonetheless appeared desirous to spend money on the way forward for productiveness. I felt cautiously assured extra capital may wait.

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But, you recognize, best-laid plans.

Establishing belief whereas sheltering in place

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