Project Management Best Software

Asana closed financing round raising USD50 millions

Asana closed financing round raising USD50 millions

Last week Asana announced, it closed a Series C financing round, raising $50M in new capital! and this is all good news for project-task management cloud applications.

As the Internet breaks global barriers and make world distances shorter, companies are seeing the benefits of using project management cloud tools to improve efficiency by centralizing information, sharing work updates and enabling teams to be "connected" real time.

As per the Asana blog: "We started Asana with the hypothesis that every team in the world is capable of accomplishing bigger goals — and that software could help empower them to drive work forward with more ease, clarity, and accountability"

By closing this financing round, Asana is on track on their mission to empower teams focus on their work and reducing the time teams are spending on "work about work". If your work environment consist of looking over hundreds of emails because you have different teams working on multiple plans and actions then Asana could potentially remove that overhead - specially when projects are asymmetric and are defined based on tasks. Today Asana reported 13,000 paying customers, up from 10,000 last September 2015.

Some of the investors supporting Asana include: Sam Altman (President of Y Combinator), 8VC venture capital firm led by Palantir co-founder Joe Lonsdale, Tony Hsieh (CEO of Zappos) via VTF Capital, Mark Zuckerberg (CEO of Facebook) and Priscilla Chan (CEO of The Primary School), Andrew Mason (CEO of Detour), Adam D'Angelo (CEO of Quora), Aditya Agarwal & Ruchi Sanghvi (VP and former VP at Dropbox) and Asana own founders: Justin Rosenstein & Dustin Moskovitz.

According to Asana there are three pillars for modern teams to have the best chance at achieving the results they seek:

Pillar 1: File Creation and Sharing.
Pillar 2: Messaging and Communication.
Pillar 3: Work Tracking.

Pillars 1 and 2 have been addresses for a while via various solutions in the marketplace (Dropbox, Google Drive, Google Docs, Skype, Slack, Gmail) and it is Pillar 3 that Asana is actively tackling: "Work tracking is the newest space to emerge. It fills the big hole in the toolset, providing clarity of plan and responsibility, to avoid constant confusion about who’s responsible for what by when."

Congratulations to Asana on job well done. To read more: Asana Raising $50M: Your success is ours; our success is yours

Posted on April 03, 2016

Tags: Asana

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