- Remote meeting app company Parabol announced it has raised $4 million in funding
Parabol — a remote meeting app company for agile teams and remote workers — announced it raised $4 million in a seed round of funding led by CRV with significant participation from Haystack. CRV and Haystack are joining leading collaboration software and early investor Slack Fund in investing in Parabol.
There are more than 500 organizations — including dozens of major corporations — that rely on Parabol as an effective tool for establishing collaboration and connectedness. With this round of funding, Parabol is going to further enhance user experiences and expand its sales marketing and product teams to better serve customers.
“Parabol was created so that every meeting held amongst team members is actually worth the time invested. With the support of CRV and Haystack, we will make Parabol useful to more kinds of teams, and scale Parabol’s infrastructure to match our rate of growth,” said Parabol CEO and founder Jordan Husney.
Parabol is a mobile-ready SaaS application — which helps development teams consisting of both in-house and remote workers — to conduct retrospective meetings and check-ins through a user-friendly platform.
“Parabol is transforming the way agile teams across industries work together,” added CRV partner Izhar Armony. “We’ve been tracking the rapidly rising need for teams to collaborate at a distance, and believe in the way Parabol is enabling people to meet and work more effectively together.”
Retrospectives feature five structured meeting phases where teams are encouraged to evaluate their processes and make needed improvements at the conclusion of a project or cycle of iteration. And based on core values of transparency, empathy, experimentation, and play, the Parabol app encourages participants to openly share recent experiences, issues, and concerns within a safe and inclusive space. The app also makes it easy for users to form genuine connections and build work culture, independent of their physical location.
“Parabol shows signs of incredible engagement and momentum, attracting a diverse set of users and customers by leveraging the company’s product-led, bottom-up adoption model,” explained Haystack general partner Semil Shah. “Jordan and the team are building an incredible product and we’re very excited about their drive to focus on product-led growth and the industry tailwinds behind them.”