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AngelPad 9 Graduate Wins First Investment From NY-Focused $107m Fund
NEW YORK, NY --(Marketwired - March 24, 2016) - Hive (https://hiveteams.com) today announces $1.4m in seed funding from a coalition of funds and angel investors from Google and Grey Group led by New York's Tribeca Venture Partners. This reflects the extraordinary growth that Hive has seen since graduating in December from top-rated accelerator AngelPad. Over 250 companies now use Hive to run their teams, from small businesses up to Pinterest and Deloitte.
Hive allows any team to complete their processes in the fastest way, every time. The ideal processes can be set up by the team or taken from a best-in-class library, but Hive also uses machine learning to suggest new possibilities. Hive integrates with over 90 popular SaaS tools like Salesforce and Zendesk and file stores like Box and Google Drive:
Hive started life as a side project born from frustration. Founders John Furneaux (ex-Global Head of Customer Success at huddle.com) and Eric Typaldos (ex-White House and Oracle platform architect) were frustrated with the lack of tools available to run their project, and built an early version for themselves.
"We were sick of switching between 4 or 5 tabs just to get basic processes done. We wanted work tools that were integrated and smart, with a user experience as good as the consumer tools we're used to," said John Furneaux, Hive CEO. When others saw Hive, demand for spaces grew exponentially and they switched to Hive full time, moving the business from San Francisco to New York to take advantage of the strong enterprise market.
Chip Meakem of Tribeca Venture Partners joins Hive's Board of Directors and said, "We believe that machine intelligence will play an important role in the workplace of the future. Hive drives us towards that goal."
The funding is being used to deliver Hive AI v2 which automatically builds the processes for a whole team based on its profile.
AngelPad is a San Francisco and New York based startup accelerator founded by ex-Googler Thomas Korte. In 2015 AngelPad was ranked No.1 Seed Accelerator by the Seed Rankings Project. (http://www.seedrankings.com/2015-rankings.html)
About Tribeca Venture Partners:
Tribeca Venture Partners is a NY-focused fund backing early stage teams, founded in 2011 by Chip Meakem and Brian Hirsch. TVP recently announced its second fund of $107m. Portfolio highlights include AppNexus, ShopKeep and CommonBond. http://tribecavp.com/
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