Highfive, a new startup that seeks to address problems in effective communication in the workforce, received USD9.5 million in Series A funding. The funding round was participated by private equity firms Google Ventures, General Catalyst and Andreessen Horowitz.
The startup already had an initial seed funding of USD4 million, and an impressive list of angel investors had also backed the startup. The belief by investors in Highfive was enormous despite the fact that there had been no preview of what the product looks like. Nonetheless, the startup shows promise as the founders of Highfive are Shan Sinha and Jeremy Roy of collaborative document solution DocVerse. In 2010, DocVerse had been acquired by Google and was used as basis for Google Drive.
Sinha believed that a new mode of communication within the workplace should take advantage of all advancements in technology today.
Sinha said, "Yes, you have email, conference calls, and yes you can get together in person, but we thought that there's an opportunity to give people a new option."
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