22 Nov Friday app, a remote work tool, raises $2.1 million led by Bessemer
Friday, an app looking to make remote work more efficient, has announced the close of a $2.1 million seed round led by Bessemer Venture Partners. Active Capital, Underscore, El Cap Holdings, TLC Collective, and New York Venture Partners also participated in the round, among others.
Founded by Luke Thomas, Friday sits on top of the tools that teams already use — Github, Trello, Asana, Slack, etc. — to surface information that workers need when they need it and keep them on top of what others in the organization are doing.
The platform offers a Daily Planner feature, so users can roadmap their day and share it with others, as well as a Work Routines feature, giving users the ability to customize and even automate routine updates. For example, weekly updates or daily standups done via Slack or Google Hangouts can be done via Friday app, eliminating the time spent by managers, or others, jotting down these updates or copying that info over from Slack.
Friday also lets users set goals across the organization or team so that users’ daily and weekly work aligns with the broader OKRs of the company.
Plus, Friday users can track their time spent in meetings, as well as team morale and productivity, using the Analytics dashboard of the platform.
Friday has a free forever model, which allows individual users or even organizations to use the app for free for as long as they want. More advanced features like Goals, Analytics and the ability to see past three weeks of history within the app, are paywalled for a price of $6/seat/month.
Thomas says that one of the biggest challenges for Friday is that people automatically assume it’s competing with an Asana or Trello, as opposed to being a layer on top of these products that brings all that information into one place.
“The number one problem is that we’re in a noisy space,” said Thomas. “There are a lot of tools that are saying they’re a remote work tool when they’re really just a layer on top of Zoom or a video conferencing tool. There is certainly increased amount of interest in the space in a good and positive way, but it also means that we have to work harder to cut through the noise.”
The Friday team is small for now — four full-time staff members — and Thomas says that he plans to double the size of the team following the seed round. Thomas declined to share any information around the diversity breakdown of the team.
Following a beta launch at the beginning of 2020, Friday says it is used by employees at organizations such as Twitter, LinkedIn, Quizlet, Red Hat, and EA, among others.
This latest round brings the company’s total funding to $2.5 million.
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