Few younger software program firms have had as nice a yr as San Diego-based ClickUp. The corporate, which makes enterprise productiveness instruments for job administration, targets and docs, raised its first bit of outdoor funding in mid-2020.
Simply six months later, it has reached a $1 billion valuation after doubling its buyer base and income elevated ninefold as companies embraced distant work.
The brand new funding and valuation after just some months of hefty development present simply how intently buyers are watching the productiveness software program area. I spoke with ClickUp CEO Zeb Evans yesterday to get his insights on the challenges of hypergrowth and why it made sense to say “sure” to the test.
This interview has edited for size and readability.
TechCrunch: This has been an awfully busy yr to your crew. What’s occurred since we talked about your Sequence A?
Zeb Evans: The final time we chatted with you, we have been at an inflection level the place we had seen numerous development pre-COVID after which post-COVID we noticed that development proceed. So we simply actually saved up these development charges and actually elevated in some areas. Final time we chatted we had about 100,000 groups and now we’re over double that with over 200,000 groups that use our software program. I feel we have been at about 1,000,000 customers and now we’re properly over two million customers that use the product as properly.
That’s attention-grabbing, so it sounds such as you’ve discovered a candy spot when it comes to crew measurement?
Yeah, our variety of customers per crew finally ends up being round 10 folks or slightly bit greater than that. And that’s actually stayed true from six months in the past to as we speak.
How has your personal crew’s measurement modified?
We’re proper round 200 folks proper now, so we’ve undoubtedly greater than doubled for the reason that final time that we talked, and we’re going to double once more hopefully within the subsequent quarter so we’ve bought an aggressive hiring plan to do this.
Cool, so that you’ve doubled your person base in six months in addition to your crew. How has your crew adjusted to scaling so shortly?
It’s query. I feel that the largest factor that we’ve at all times centered on is transport a brand new model of ClickUp each week. That’s our differentiation. We’ve type of created these iterative cycles referred to as pure product market match and it’s been onerous to maintain up with that. I imply, we’ve accomplished it however as you scale, you realize you’ve gotten many extra customers and extra concerns to take into each characteristic that you just change and have that you just develop.
I feel that’s been like the largest factor we’ve been centered on and listening to that group that that’s ever-growing each week. Clearly hiring is at all times high of thoughts additionally, and we haven’t accomplished that as quick as we’d prefer to. However we’re making enhancements there and we’re getting there.
Quite a lot of startups raised opportunistic rounds throughout what’s appeared to be a extremely popular market, at what level did you suppose that it would make sense to boost much more cash after closing that Sequence A?
So, our Sequence A was our first outdoors capital and we didn’t actually know what that may do on the time. What we noticed once we raised that fund was that we have been in a position to actually speed up our imaginative and prescient and our product. We’ve used these sources very effectively and we noticed nice unit economics come out of that. And in addition as you talked about, it’s definitely time and a fantastic market to be in — the productiveness market is simply the most popular proper now. So it was type of a trifecta of that however the true cause to boost was definitely to have the ability to proceed that product development and the acceleration of scaling that comes with elevating cash.