# Elastic Projects

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/elastic-projects

- Industry: Internet
- Headquarters: San Francisco, US
- Website: www.goabstract.com
- Total disclosed funding: $54M
- Latest round: Series C (Feb 14, 2019)
- Investors on record: 5

## About

Elastic Projects, Inc. is a company focused on providing version control solutions tailored for design teams, enhancing collaboration and management of design workflows through its innovative platform.Founded in 2016, Elastic Projects, Inc. is based in San Francisco, US, and specializes in version control for design files. The company has completed four deals, with the most recent funding round occurring on February 14, 2019. Led by Lightspeed Venture Partners, the Series C funding raised USD 30 mn, bringing the total amount raised to USD 30 mn with a current valuation of USD 218.84 mn. Bilal Eyrik and Euan Mackay are notable founders, and Jamus Driscoll serves as the CEO.Elastic Projects, Inc. offers a platform that specializes in version control solutions specifically for Sketch files. Their product facilitates the management of design workflows, enabling teams to import, organize, and collaborate on Sketch files. This platform allows users to create branches for design iterations, addressing common challenges in file organization and collaboration. The company serves a diverse clientele that includes more than one-third of Fortune 500 companies, enhancing design operations globally in markets such as North America, Europe, and Asia.Elastic Projects, Inc. generates revenue through subscription-based services designed for design teams and organizations. Clients subscribe to plans providing access to tools for version control and collaboration, which often feature tiered pricing based on the number of contributors required. The company's offerings include tools for organizing design projects and enabling real-time collaboration, catering to customers from small startups to large enterprises.Elastic Projects, Inc. plans to leverage the recent Series C funding of USD 30 mn raised in March 2019 to enhance its product offerings and expand into new geographic markets. The company is focused on developing new features for their platform, although specific product launches and release dates have not been disclosed. They are also targeting growth in additional regions to better serve their clientele, with detailed expansion strategies anticipated to be outlined in the coming months.

## Funding rounds

- Series C, Feb 14, 2019, $30M — Lightspeed Venture Partners, Scale Venture Partners, Cowboy Ventures, Amplify Partners
- Series B, May 3, 2018, $16M — Scale Venture Partners, Cowboy Ventures, Amplify Partners
- Series A, Jun 2, 2017, $5.9M — First Round Capital, Cowboy Ventures, Amplify Partners
- Seed, Jan 1, 2016, $2.3M — First Round Capital, Cowboy Ventures

## Investors

- First Round Capital (https://capitalatlas.ai/funds/first-round-capital) — Seed, Series A
- Cowboy Ventures (https://capitalatlas.ai/funds/cowboy-ventures) — Seed, Series A, Series B, Series C
- Amplify Partners (https://capitalatlas.ai/funds/amplify-partners) — Series A, Series B, Series C
- Scale Venture Partners (https://capitalatlas.ai/funds/scale-venture-partners) — Series B, Series C
- Lightspeed Venture Partners (https://capitalatlas.ai/funds/lightspeed-venture-partners) — Series C