Nulab raises $5 million in funding and aims to increase its presence in the North American and European markets
The fast-growing startup will use the new funding to scale its global growth, offer a new security product and new features, and expand its international team.
NEW YORK, March 5, 2020 /PRNewswire-PRWeb/ -- Today, Nulab announced it raised $5 million from venture capital firms NOW, Inc., XTech Ventures, Inc., and Shinsei Corporate Investment Limited. The new investment will support the startup's core mission: reinvent team productivity by making it easier and more visual.
With offices in New York, Amsterdam, Singapore, and Japan, Nulab creates collaboration software that help international teams of all sizes: from a few people to hundreds of employees working in different departments and time zones.
Nulab's products are used by more than 4 million people in over 190 countries and include:
- project management and issue tracking tool Backlog
- cloud-based diagramming software Cacoo
- chat app Typetalk
"We are honored to have these industry leaders on board," said Nulab's Co-founder Shinsuke Tabata. "It's inspiring to know they believe in our company and share our vision to revolutionize how people work together."
Nulab plans to leverage the funding to continue its growth and become more competitive in the collaboration software industry. Specifically, the $5 millions will be used to:
- Add further features and integrations to its three software.
- Hire more developers in both North American and European offices.
- Increase international marketing efforts.
- Develop "Nulab Pass", a new security product for Backlog, Cacoo, and Typetalk.
Nulab Pass will be released in Summer 2020. After enabling support for WebAuthn the past July, Nulab is now preparing to implement single sign-on (SSO) via a SAML Authentication for all its software. Users will be able to quickly and safely sign in to multiple applications with just one ID and password.
"We are excited to continue creating software that help teams break down communication barriers and organizations understand better progress towards their objectives," commented Mr Tabata. "We aim to make collaboration smarter and more efficient. If you collaborate better, you innovate faster."
The funding is the latest of several milestones achieved by the company in the past months:
- Backlog was selected as an Overall SaaS Award winner for the international 2019 APPEALIE Awards.
- Both Cacoo and Backlog were named Leaders in their markets by G2, the world's largest tech marketplace.
- Backlog added a new Kanban board feature that empowers project leaders to have greater visual control over workflow and tasks.
- Cacoo launched its Microsoft Teams integration designed to enrich communication and spur productivity among teams.
About Nulab
Founded in 2004 in Japan, Nulab creates productivity software used by over 4 million people in over 190 countries. The company has offices in New York, Amsterdam, Singapore, Tokyo, Kyoto, and its headquarter in Fukuoka.
Nulab's products include the online project management and bug tracking software Backlog, the cloud-based diagramming software Cacoo, and the chat app Typetalk.
For more information, visit https://nulab.com/.
Media Contact
Alessandra Granelli
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SOURCE Nulab
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