Yac Receives $7.5 Million Series A Funding by GGV Capital and Slack Fund
GGV Capital's investment allows Yac access to its comprehensive global network to sustain its continued growth at all levels as it follows a massive global opportunity.
FREMONT, CA: Yac, an online voice message and asynchronous messaging network, revealed today that it has received 7.5 million dollars in venture financing under GGV Capital's leadership with incremental support from the Slack Group, which also invested in 2020. Yac is now designing one of the most powerful audio messaging systems for remote teams.
Yac will use the investment for product creation and growth. The company plans to continue to scale its dispersed teams around the go-to-market, product, manufacturing, and business functions. During the COVID-19 pandemic, Yac expanded its user base by more than 400 percent, seeing a considerable rise in daily traffic from those searching for voice or asynchronous meeting solutions.
GGV Capital's investment allows Yac access to its comprehensive global network to sustain its continued growth at all levels as it follows a massive global opportunity. First developed at home by SoFriendly, Yac's first voice messaging app debuted in 2018 by winning the Product Hunt Maker Festival start-up competition and then obtained an initial investment from Boost VC and Adam Draper thanks to a single tweet from a Yac user who felt it deserved attention.
"Audio has become the most powerful and least intrusive communication medium as we head into 2021. It's become clear that we need a workplace solution to the audio-first growth. We are thankful to partner with investors like GGV Capital and the Slack Fund who support our vision," said Justin Mitchell, Co-founder, and CEO, Yac.
Yac's offering also provides group chat, Slack integration, and a mobile interface that supports Yac across various platforms, including Linux and Chromebooks. "Yac is reinventing the way we communicate through asynchronous audio messages, allowing teams that cut across organizational boundaries to work better together. We're reinvesting in Yac because they align with our mission to make the future of work simpler, more pleasant, and more productive, something we've already seen through their powerful integrations with the Slack platform," said Jason Spinell, Director of the Slack Fund.
"Yac is the future of audio within enterprise. Yac's asynchronous audio-first platform has the powerful ability to transform the way you work and connect with others. At GGV we've seen audio-centric communication work globally, and we're excited about the opportunity Yac has to bring audio-first to the US and beyond," said Tiffany Luck, an investor at GGV Capital.