Collaborative whiteboard software Allo announces its raise of $5M Pre Series A from investors including Atinum Investment, Partners Investment, Smilegate Investment, Ascendo Ventures and Zoom Video Communications Inc.
Until this point, the company has been able to grow quickly by leveraging its product-led growth strategy on less than $3.5M in capital raised. Allo launched its first product in November 2020, followed by its Desktop App in March 2021 and its Zoom Apps product launch in July this year. The number of Allo users grew about 10 times from its initial launching to more than 400,000 active users worldwide today. The Pre Series A funding will enable Allo to expand its collaborative whiteboard solutions around remote and hybrid work needs, virtual education and online meeting facilitation, and grow the company’s go-to-market capabilities and product development teams globally, doubling in size by the end of next year.
“As customers recognize the power of the tools that enable them to achieve a much higher level of engagement and team alignment, we’ve seen huge adoption of our platform,” said Raymond Hong, CEO and Co-founder at Allo. “Allo will continue to strive to make the collaborative work environment better for the remote and hybrid teams.”
“The market opportunity for a collaborative whiteboard solution that connects the global distributed workforce has never been greater,” said Colin Born, Head of Zoom Ventures at Zoom. “Allo’s product offering drives innovation with its customers and we see the potential to go even further, where Allo transforms the modern offices of today.”
Allo was founded in 2014 as a digital whiteboard for people to collaborate in real-time. In 2020 after completing Alchemist Accelerator’s program, the company began focusing on supporting remote and hybrid workers, virtual education practitioners and online meeting facilitators. Today, Allo is used by enterprise customers worldwide to visually collaborate and bring context to online meetings, brainstorming, knowledge sharing, project management, and documentation as if they were working side-by-side in the same space.
Learn more about Allo and try it free by visiting allo.io.
