Clockwise, a smart calendar and time management tool, has raised $45m in Series C funding led by Coatue, with participation from Atlassian Ventures and existing investors Accel, Greylock Partners and Bain Capital Ventures. This latest round brings the total amount of funds raised by the company to $76 million. Clockwise uses artificial intelligence to help teams free up their working days and avoid the challenges associated with remote and hybrid workplaces, such as burnout.
The company was founded in 2016 by Gary Lerhaupt, Matt Martin and Mike Grinolds. The trio met while working at RelateIQ, a company that Salesforce bought for $390 million in 2014. They discovered that they shared a common goal, which was to create a way to give people more time for focused work.
“Clockwise is the solution to the modern workday,” Clockwise CEO Matt Martin told TechCrunch in an email. “Clockwise optimizes your team’s schedules to create more time in everyone’s day – so we can feel present when we work together and focused when we work alone. We’re fostering a new way of working that truly respects people’s time. people and helps create a healthy and sustainable future of work.
Since launching the platform in 2018, Clockwise has rescheduled 4,000,000 flexible meetings. He has also created over 2,000,000 hours of uninterrupted “Focus Time” for teams. Focus Time is a feature that helps users visualize the time they have available for focused work by automatically creating a block in their calendars. Clockwise has optimized calendars for over 10,000 organizations, including Netflix, Twitter, Coinbase, Atlassian, Asana, and Airtable.
Clockwise currently competes with several other smart calendar and planning tools such as Calendly, Doodle, Reclaim and more. According to Martin, Clockwise differs from other smart calendar platforms because the company is creating a new category it calls “time orchestration,” a modern way of bringing schedules together at an organizational level.
“We’re in the early stages of this category, so we’re primarily competing against people who don’t realize that their attempts to optimize their individual workday can negatively impact the productivity of their teammates,” he said. -he declares. “The magic of Clockwise is that we orchestrate company workdays, performing up to a million calendar permutations for any given team to create the best possible schedule for everyone.”
Clockwise will use this latest investment to advance its AI technology and continue to bring its platform to more teams around the world. The company is recruiting across all of its departments, with 25 positions open and another 100 openings planned for this year.
As for the future, Martin says Clockwise will continue to grow and expand to find more ways to free up people’s workdays. He says that although Clockwise is currently only designed to handle internal meetings, the platform could significantly improve the broader scheduling experience in the future.
“We invest in advanced AI and ML models to both create Focus Time and deliver high-quality meetings,” Martin said. “Clockwise has many exciting new products and enhancements to come, including bringing this new way of working to the hundreds of millions of people using Microsoft 365.”
Clockwise’s Series C investment follows its $18 million Series B funding round announced in June 2020. The round was led by Bain Capital Ventures. The company announced its $11 million Series A investment, co-led by Greylock and Accel, in June 2019.