SAN FRANCISCO, March 10, 2015 /PRNewswire/ -- Do (do.com), a cutting-edge solution for running productive meetings and maximizing knowledge worker productivity, announced today that it has raised $2 million in seed funding. Do is an online platform that allows users to take meeting notes, share files, assign tasks, and send out meeting summaries seamlessly.
The seed round includes notable investors, such as New Enterprise Associates (NEA), Slow Ventures (Dave Morin and Kevin Colleran), Nas of Queensbridge Venture Partners, Zynga founder Mark Pincus, Chegg co-founder Aayush Phumbhra, Cotap CEO and former Yammer Chief Product Officer Jim Patterson, along with other prominent investors.
"The modern workforce is increasingly mobile and distributed around the world, placing new demands on collaboration tools and platforms," said Jon Sakoda, general partner at NEA. "Do is giving thousands of companies a simple yet robust solution for running meetings more effectively, enabling them to be more innovative and productive in today's rapidly changing business world."
Three billion meetings happen every year in Corporate America alone, and surveys have found that 71% of people find meetings to be unproductive. Do originally launched in July 2014 with backing from SherpaVentures, SherpaFoundry, and Salesforce to combat the $37 billion worth of knowledge worker productivity lost to bad meetings every year. Jason Shah, the founder and CEO of Do, was previously a product manager at Yammer (acquired by Microsoft for $1.2b in 2012) and is a rising influencer in the Future of Work community.
"In recent years we've seen advancements in enterprise tools such as messaging, file-sharing and task management, but until now, little innovation around meetings," said Alan Lepofsky, vice president and principal analyst at Constellation Research. "A single tool that brings together the people, content and action items from before, during and after a meeting could provide a significant improvement in the way people get their work done."
Today more than 5,000 companies use Do to make meetings productive including employees from Costco, Dominos, the United States government, and many more. Do raised this round on the back of strong traction and plans to expand aggressively. The new round of capital will go towards the expansion of its team and growth of the product, including the launch of its premium enterprise offering.
"As a growing company, meetings are playing a larger role in our productivity. Without a tool to organize them, you leave productivity to chance. Tracking meetings via Do has elevated our productivity and employee happiness" according to Kyle Wong, CEO and co-founder of Pixlee, a content marketing platform backed by Andreessen Horowitz and others.
Along with the new funding, Do is also announcing the launch of its integration with Microsoft Office 365. This announcement represents one of the first major integrations between a startup and the Microsoft Office 365 API, and Do worked closely with internal teams at Microsoft on this launch. As Microsoft strengthens its mobile and cloud offerings, Do provides a complementary meeting productivity platform that enhances the Microsoft Office 365 suite.
The Microsoft Office 365 integration arrives alongside updates to Do's Google Apps and Evernote integrations as well as revamped iPhone and iPad apps.
"Office 365 integration has been highly requested from our corporate users and signals something important about Microsoft, Do, and the broader technology community. Do perfectly complements Microsoft Office tools such as the Outlook Calendar, now offering Microsoft consumers a seamless solution for productive meetings," says Jason Shah, founder and CEO of Do.
Now adopted by thousands of companies as the centerpiece of meetings and work productivity, Do plans a series of major product launches and business partnerships in 2015. Those who are looking to make meetings more productive can sign up at Do.com and on mobile by downloading the Do iPhone and iPad apps.
Do (www.Do.com) helps people run productive meetings. Founded in 2013 by former Yammer product manager Jason Shah and incubated at SherpaFoundry, Do is backed by NEA, SherpaVentures, Salesforce, and other top investors. Learn more at Do.com.
NEA is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With more than $13 billion in committed capital, the firm invests in information technology and healthcare companies at all stages in a company's lifecycle, from seed stage through IPO. NEA's long track record of successful investing includes more than 200 portfolio company IPOs and more than 320 acquisitions. For additional information, visit www.nea.com
SherpaVentures is a venture capital firm that helps the most promising emerging technology-enabled companies become global brands beloved by their consumers.
SherpaFoundry provides strategic, trusted advice and guidance to select corporations and entrepreneurs to transform and elevate assets and galvanize their ideas.
SOURCE Do; New Enterprise Associates