Riff, the London-based firm that is working on the development of a "voice-powered" chat tool aimed to help the remote workers, has landed seed round investment worth $1.5 million. Notably, the firm has not launched the product as yet and it will do the same in 2021.
The financing round has been led by Balderton Capital, a firm that is known to make Series A round fundings. However, Balderton Capital has often made similar investments in the past as well. The round also saw participation from Seedcamp along with a few angel investors like Carlos Gonzalez-Cadenas, COO of GoCardless, Nicolas Brusson, CEO of BlaBlaCar and Tim Sadler, CEO of Tessian.
Isabel Bescos along with Matthew Scheybeler founded the company to help the companies who work from multiple locations and face trouble in communications. While there are firms like Zoom and Slack who are working in remote working domain but they do not offer audio support. The team at Riff wants to solve this problem. And the investors are betting on their efforts. The firm is testing the private beta of the product and is planning the launch by early next year.
Speaking to Techcrunch, the founders said that “Instant messaging tools can be distracting, jammed with notifications and hard-to-follow threads, and on the other hand, video conferencing tools often require additional software, and tend to be used for pre-scheduled, formal meetings. What is lacking is something that enables effortless and spontaneously collaboration throughout the day. The remote equivalent of turning to ask a colleague a quick question, or to discuss the project you are working on”.
Balderton general partner Suranga Chandratillake through a statement said that “We are inundated with notifications, pop-ups, chat tools and various distractions vying for our attention when trying to communicate and work with others. Yet none have managed to get to the crux of what it’s really like to be able to collaborate quickly with colleagues in an office. As more of us work remotely, there needs to be a better way. We see huge potential in Riff’s unique approach to solving this challenge, and we’re thrilled to partner with them to bring its array of benefits to more companies”.
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