# Groove Labs

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/groove-labs

- Industry: Software
- Headquarters: San Francisco, US
- Website: www.groove.co
- Total disclosed funding: $61M
- Latest round: Series B (Oct 14, 2021)
- Investors on record: 6

## About

Groove Labs, Inc., based in the US, provides innovative software solutions to enhance team communication and collaboration, streamlining workflow processes for businesses across various sectors.Founded in 2014 in San Francisco, US, Groove Labs, Inc. specializes in cloud-based software for project management, messaging, and CRM. The company was co-founded by Austin Wang, Chris Rothstein, Gopika Udayakumar, L Hood, and Roger McKay, with Chris Rothstein serving as CEO. It has successfully raised a total of USD 45.00 mn through various funding rounds, with the latest being a Series B round led by Viking Global Investors on August 14, 2023. Groove Labs has participated in 4 deals in total, further establishing its presence in the technology sector.Groove.co specializes in providing innovative solutions aimed at enhancing communication and collaboration within teams. Their core offerings include cloud-based software designed for project management, team messaging, and customer relationship management (CRM). These products streamline workflow processes, facilitate remote collaboration, and improve customer engagement for small to medium-sized enterprises (SMEs) across North America, Europe, and parts of Asia. The platform caters to diverse industries, including technology, finance, and creative services, ensuring adaptability to various business needs and operational contexts.Groove.co generates revenue primarily through a subscription-based model, allowing clients access to its suite of tools on a monthly or annual basis. The company offers tiered pricing plans for different customer segments, from individual users to larger enterprises. This structured pricing approach facilitates predictable revenue streams as clients renew their subscriptions, supporting long-term relationships with users. Additionally, partnerships with other technology providers enhance the company's service offerings and contribute to its overall revenue model.Groove Labs, Inc. is planning to expand its product offerings and geographical reach. They are currently developing new features intended to enhance project management capabilities, with a targeted release by Q4 2024. The company aims to expand into markets in Latin America and Southeast Asia by the end of 2025. The recent funding of USD 45.00 mn from the Series B round will support these initiatives, enhancing their platform and broadening their market presence following their acquisition by Clari, Inc. in August 2023, which aims to provide expanded visibility and control across the revenue process.

## Funding rounds

- Series B, Oct 14, 2021, $45M — Viking Global Investors, Level Equity, Quest Venture Partners, Uncork Capital, Capital One Ventures
- Series A, May 7, 2020, $12M — Level Equity, Quest Venture Partners, Uncork Capital, Capital One Ventures
- Seed, Nov 30, 2016, $3.8M — Quest Venture Partners, Uncork Capital, Alchemist Accelerator

## Investors

- Quest Venture Partners (https://capitalatlas.ai/funds/quest-venture-partners) — Seed, Series A, Series B
- Uncork Capital (https://capitalatlas.ai/funds/uncork-capital) — Seed, Series A, Series B
- Alchemist Accelerator (https://capitalatlas.ai/funds/alchemist-accelerator) — Seed
- Level Equity (https://capitalatlas.ai/funds/level-equity) — Series A, Series B
- Capital One Ventures (https://capitalatlas.ai/funds/capital-one-ventures) — Series A, Series B
- Viking Global Investors (https://capitalatlas.ai/funds/viking-global-investors) — Series B