San Francisco-based email collaboration startup Front has confirmed bagging $59 million in Series C funding round. However, the entire round has been co-led by a group of CEOs and founders of companies. This includes Atlassian co-founder and co-CEO Mike Cannon-Brookes, Atlassian President Jay Simons, Okta co-founder, and COO Frederic Kerrest, Qualtrics co-founders Ryan Smith and Jared Smith and Zoom CEO Eric Yuan.
Prior to this round, Front had picked up $66 million in Series B round which was led by Sequoia Capital in January 2018. The current infusion takes the total amount raised by Front to $138.3 million. Sequoia Capital, Initialized Capital, Anthos Capital, the existing backers also participated in this round.
Laurent Perrin, Mathilde Collin, and Thibaud Elziere started the company in 2013 with the aim of reinventing the inbox of users in order to help them deliver more and better by collaborating with each other. The company counts big names like Mailchimp, YCombinator, Stripe, and Shopify among its 5,000 customers.
Mathilde Collin, the CEO, and co-founder of the firm talking about the company said, "We thought they might be able to provide some thoughts about how things get done in this space. Because if you won’t reinvent the most fundamental tools that we use at work every day, like email, you won’t make a big impact. As we make more money, we re-invest, given how big our market opportunity is. Could we reach profitability with the money in our bank account? Yes, definitely. But we want to keep scaling our product and go-to-market capabilities.”
The other big players who are working in a similar segment are Workplace by Facebook, Office 365 and Teams from Microsoft and G Suite from Google and Slack. It will be interesting to see how the firm utilizes fresh funds and deliver more and better for the users.