- Productivity and collaboration apps that enable remote work are seeing huge demand right now and while Microsoft still largely dominates the workplace, there are many newer apps trying to reinvent pieces of the productivity suite.
- Companies like Notion are rethinking how document sharing and collaboration should work, Airtable is rethinking what spreadsheets are used for, and Front is reimagining how coworkers should use email.
- Business Insider spoke to venture capitalists and analysts to compile the following list of productivity and collaboration startups that are reinventing the traditional office suite and taking on Microsoft.
- Click here for more BI Prime stories.
Productivity and collaboration apps that enable remote work are seeing huge demand right now, as companies look for ways to keep employees connected and effective while working from home. Tools that were already popular before the pandemic — like Microsoft, Slack, and Zoom— have seen user numbers skyrocket even more dramatically.
Microsoft in particular has reaped the benefits via its chat and collaboration app Teams, which is bundled in its Office 365 suite along with Word, Excel, Outlook, PowerPoint, and more. Microsoft Teams' number of daily active users jumped to 75 million in April, with analysts speculating that Teams saw such a large jump in usage because it was the most convenient collaboration platform for many businesses to adopt since they were already paying for Microsoft's suite to use its other tools.
While Microsoft still largely dominates the workplace, startups are chipping away at different parts of its suite by inventing new types of workplace collaboration and productivity apps to reinvent specific tools that office workers typically use. For example, Notion is rethinking how document sharing and collaboration should work, Airtable is rethinking spreadsheets, and Front is reimagining how coworkers should use email.
Tools like that are creating new categories "around or adjacent to the traditional office productivity suite," said Rich Wong, a partner at Accel. "These are different forms of collaboration tools that, over time, will change the nature of how people work."
As the shift to remote work increases the need for better work tools, many of these new productivity and collaboration startups are poised to grow. Business Insider spoke to five venture capitalists and analysts to compile the following list of productivity and collaboration startups that are reinventing the traditional office suite.
Here are the 14 companies that they recommended that are reinventing work (all funding and valuations taken from PitchBook unless otherwise noted):
SEE ALSO: Zoom just hired a new security chief. Meet Zoom's 12 power players helping CEO Eric Yuan navigate the product's skyrocketing growth
Airtable
Funding: $170 million
Valuation: $1.1 billion
Major Investors: Thrive Capital, Benchmark, Caffeinated Capital, CRV
What it does: Airtable is a cloud-based spreadsheet tool that lets users build their own custom apps without having to code.
Why it's on the list: Airtable is used for everything from project management to spreadsheets, and is taking on legacy tools like Microsoft Excel and Google Sheets. The company has widespread popularity and has grown rapidly. It's planning to build two new offices this year, focused on engineering, sales, and marketing, to support its growth.
In March, CEO Howie Liu told Business Insider that company's revenues have quadrupled in the two years or so since Airtable raised its Series C round of $100 million in 2018. The company is said to be in talks to raise another $50 million in funding, according to a report from The Information in April.
Vertex Ventures partner Sandeep Bhadra isn't an investor in Airtable, but says its "phenomenal execution" impresses him, and that few companies can compete against it.
Notion
Funding: $70.9 million
Valuation: $2 billion
Major Investors: Index Ventures, First Round Capital, Chasella and A.Capital Ventures
What it does: Notion wants to be an "all-in-one workplace," so teams have one place to write notes, track projects, build spreadsheets and databases, and get organized.
Why it's on the list: Notion is pioneering an entirely new way of working and collaborating and it's booming in popularity. Sonali de Rycker, a partner at Accel, said in March that it's "no surprise that they hit 1 million users in less than three years" because it just proves how useful its product is. De Rycker is not an investor in Notion.
Unlike most other startups, Notion has not raised a lot of venture funding, but has plenty of inbound interest from VCs. In March the company raised $50 million in new funding in a round led by Index Ventures that valued it at $2 billion. CEO Ivan Zhao told Business Insider that Notion was profitable and thriving amid the boom in remote work, and only raised to give customers reassurance that Notion will be sticking around.
Chris Marsh, an analyst at 451 Research, said he sees Notion as a "flexible digital canvas" that brings documents, data collaboration, and workflow together, and is pioneering a new type of productivity tool to replace legacy word processing and file sharing.
Canva
Funding: $316.5 million
Valuation: $6 billion
Major Investors: Blackbird Ventures and Sequoia Capital China, Felicis Ventures, General Catalyst, and Bond Capital
What it does: Canva is an easy-to-use graphic design app that provides free and paid templates for freelance, professional, and aspiring designers.
Why it's on the list: Canva is taking on tools like Adobe Photoshop and Microsoft PowerPoint, and catching on as a powerful-but-simple tool, even for non-artistic users in sales and marketing departments. It's also growing incredibly fast: It just raised a $60 million funding round that shot the company's valuation to $6 billion. Legendary tech investor Mary Meeker has participated in previous rounds.
Canva has seen skyrocketing growth due to increased remote work, the company said when it announced its funding. The company is looking to continue adding more features, and make acquisitions in the media and editing space.
Superhuman
Funding: $56 million
Valuation: $260 million
Major Investors: Andreessen Horowitz, Shrug Capital, First Round Capital, Day One Ventures, Chapter One Ventures, and Boldstart
What it does: Superhuman is reimagining email with the goal of making it a faster and more efficient way to communicate. Users get keyboard shortcuts, additional features, and reminders to get though their inboxes in less time.
Why it's on the list: Superhuman, which gives users keyboard shortcuts and reminders that help breeze through an inbox, has a huge fan-base in Silicon Valley. The email app, which is currently invite-only and costs $30/month, promises to help users become inbox-zero masters by using AI and other features to help them stay on top of their messages.
Its goal is to displace older workplace email apps like Microsoft Outlook and Gmail and make email something that truly makes people more productive at work. Investor Jeff Morris, Jr. at Chapter One Ventures said Superhuman will come a "must have" product for all companies eventually.
Coda.io
Funding: $60 million
Valuation: Unknown
Major Investors: Greylock Partners, Khosla Ventures, General Catalyst, Soma Capital, New Enterprise Associates
What it does: Coda has created a new type of document that combines the flexibility of a Word document with the power of a spreadsheet and the functions of an app.
Why it's on the list: Coda is in a similar space as Notion, and wants to be a new type of workspace. It allows users to collaborate on documents and customizable tables, then add functionality, too, like emailing a time sheet or nudging a coworker on Slack. Investor John Lily at Greylock previously told Business Insider that Coda allows teams to build a doc that's as powerful as an app.
The idea is to "empower non-technical people with the ability to customize how they create and manage their own work," said Chris Marsh at 451 research.
Figma
Funding: $132.9 million
Valuation: $2.1 billion
Major Investors: Andreessen Horowitz, Index Ventures, Greylock Partners, Kleiner Perkins, Sequoia Capital and Founders Fund
What it does: Figma brings the same kind of collaboration available in Google Docs to design. Its cloud-based software helps web design teams create, test, and ship designs.
Why it's on the list: Figma is opening up the design process to more than just designers and allowing teams to easily collaborate on projects. It has a strong fan-base of front-end designers, marketing teams, and social media creatives.
The company just raised $50 million in funding that brought its valuation to a little over $2 billion. In the remote work era, more teams have been using Figma's white-boarding, note taking, slide deck creating, and diagramming tools, according to TechCrunch.
"We're beginning to see creative teams and non-creative teams come together and tools like Figma are looking to design for that," Chris Marsh at 451 Research said.
Loom
Funding: $68.5 million
Valuation: $350 million, according to Forbes
Major Investors: Sequoia Capital, Coatue, Kleiner Perkins, Jay Simons, Kevin Systrom, Ashton Kutcher
What it does: The video messaging app lets users record short videos — instead of typing long emails or spending time in meetings — to get their ideas across.
Why it's on the list: Loom solves the problem of communicating complex ideas in a new form factor. The app lets people record short videos to share via messaging or email, and it's seeing increased interest during the remote work era. Investors are using it to give feedback on startup pitches, CEOs are using it to communicate with employees, and teachers are using it for online lessons.
Sandeep Bhadra at Vertex Ventures is not an investor in the company but said that Loom tackles "asynchronous video communications" well because "people love the personal touch." He likens it to "Cameo for enterprises," referring to the short-form video app for celebrities.
Bhadra isn't the only fan. Loom's investors include high profile individuals like Ashton Kutcher, Instagram's Kevin Systrom, Atlassian's Jay Simons and Figma's Dylan Field, all of whom participated in its recent $28.75 million funding round, according to Forbes.
Beautiful.ai
Funding: $16.3 million
Valuation: $36 million
Major Investors: Trinity Ventures, Shasta Ventures, and First Round Capital
What it does: Beautiful.AI uses artificial intelligence to make effective and well-designed presentations.
Why it's on the list: Beautiful.AI is taking on apps like Microsoft's PowerPoint and Google Sheets by trying to make a better presentation software. The software lets users choose templates based on the subject of their presentation, and then modify each slide depending on the content.
Karan Mehandru, a partner at Trinity Ventures and an investor in the company, calls it a "PowerPoint killer."
Front
Funding: $138.4 million
Valuation: $859 million
Major Investors: Initialized Capital Management, Sequoia Capital, Anthos Capital and Tribe Capital, Zoom CEO Eric Yuan, Atlassian's Mike Cannon-Brookes
What it does: Front takes a team-based approach to email. It combines a company's social media, email, texts, and other messages into a shared inbox to which the entire team has access.
Why it's on the list: Front is taking on one of the most-used tools in the modern workplace: email. Corporate email is currently dominated by Microsoft Outlook and to a lesser degree Google's Gmail, and hasn't really been reinvented since it was first introduced in the 1990s. Front believes that a shared inbox can make people more efficient and productive at their jobs.
It just raised a $59 million funding round in January, and although the company declined to share a specific number at the time, it said its valuation has grown four-fold from its last round 2 years ago.
Process.st
Funding: $29.6 million
Valuation: $38.2 million
Major Investors: Accel, Salesforce Ventures, Atlassian, Blackbird Ventures, AngelPad
What it does: Process Street created a "super-powered checklist" that can automate work processes and be integrated into other tools that employees use in the workplace.
Why it's on the list: Process Street is pioneering a new type of workplace productivity tool that takes the idea of a to-do list and makes it collaborative and actionable. The company raised a $12 million funding round led by Accel earlier this year, and plan to use the funds to keep growing the product.
"I guess arguably you could use a Google Sheet as a way of keeping track of a list of things and sort of ticking down it," said Accel's Rich Wong. "But to actually make it a collaborative process as opposed to just being sort of a flat document — that had never been done before for a lot of these processes,"
While Process Street doesn't compete directly with any of Microsoft's products, a new app called Microsoft Lists is attempting to make a similar type of automation and integration.
Almanac
Funding: $9 million
Valuation: Unknown
Major Investors: Floodgate Fund, CoFound Partners, General Catalyst, Inspired Capital, Abstract Ventures
What it does: It's an open-source platform for document sharing.
Why it's on the list: Almanac wants to be the GitHub of document sharing, said Shruti Gandhi of Array Ventures, an investor in the company. The platform lets users create, share and collaborate on open-source work documents, on topics ranging from HR best practices to legal templates.
The company just raised a $9 million seed round of funding to keep growing the platform for its 10,000 current users, according to blog TechStartups.
"They've seen contributions increase 800% since Covid started and people submit everything from [diversity, equity, and inclusion] docs around racial justice, to work samples used in job searches," Gandhi said. "GitHub is a mission critical tool for engineers—Almanac is going to be the same for every business person."
Miro
Funding: $76.3 million
Valuation: $725 million
Major Investors: Iconiq Capital, Accel
What it does: It helps teams build and develop ideas from anywhere using virtual white-boarding software.
Why its on the list: Miro is in the right place at the right time as companies move to more remote and distributed ways of working. It helps companies work in real-time or at different times by sharing a canvas for product development, user experience and design, strategy, and mind mapping.
"As teams are increasingly distributed across small and large organizations, companies lack the tools to collaborate in a remote context, which made us really excited about Miro's proposition," said Sonali de Rycker, a partner at Accel and an investor in Miro. While Miro doesn't directly compete with Microsoft's productivity tools, it represents a new category that could replace or complement older tools.
Miro can be used in tandem with video conferencing software because people can document ideas in real-time and share them with others later, said Chris Marsh at 451 Research.
Hopin
Funding: $46.8 million
Valuation: $350 million, according to Business Insider
Major investors: IVP, Slack Fund, Salesforce Ventures, Accel, Northzone Ventures, and Seedcamp
What it does: Hopin creates software for an all-in-one online events platform that can mimic an in-person event or conference.
Why it's on the list: Hopin has exploded in popularity in the remote work boom, as everyone seeks to replace in-person conferences and events with online replacements. The company raised two funding rounds this year, $6.5 million in February and a larger $40 million round in June.
While Microsoft Teams, Google Meet, and Zoom can be used for online events, Hopin takes the experience a step further. Chris Marsh at 451 Research wrote in a recent report that after an event is created on Hopin, "attendees can visit receptions, event stages, networking rooms, special event sessions and booths." The platform can also handle thousands of attendees.
Workflowy
Funding: Unknown
Valuation: Unknown
Major Investors: Bloomberg Beta, New Ground Ventures, Precursor Ventures, Array Ventures
What it does: Workflowy is a cloud-based list-making tool that companies can use to share tasks and information.
Why its on the list: The company takes a unique approach to organizing information, which investor Shruti Gandhi of Array Ventures calls a "a shared brain for your company and a good way to collaborate for a remote workforce."
She adds that it lets companies and individuals "break big ideas down into small pieces, focus on one thing at a time, and stay on the same page."