Raycast raises $30m from Atomico and other backers to expand its productivity software
The financing round was led by Atomico and will support product development for Windows and iOS.
≈ £22.4M at $1 = £0.7457 on 26 Sep 2024
Raycast provides a centralised productivity platform designed to consolidate workflows and reduce application fragmentation for technical professionals.
London-based software startup Raycast has secured $30m in funding to expand its developer tool to Windows and iOS. The investment round was led by European firm Atomico, with participation from Accel, Coatue, Y Combinator, Atlassian Ventures, World Innovation Lab, and several high-profile angel investors including the chief executives of Vercel, GitHub, and Shopify. Following the transaction, Atomico partner Luca Eisenstecken will take a seat on the company board.
The capital will be directed towards product development for the new operating systems, artificial intelligence integration, and strategic hiring across engineering, product design, and user experience disciplines in Europe. The company seeks to combat digital fragmentation by unifying disparate software tools into a single navigable workspace.
Investor perspective
"Thomas and Petr have built an incredible product that solves a crucial problem not only beautifully, but also effectively with a thriving open-source community of developers at its heart. Raycast provides users with virtually limitless opportunities to build a highly personalised productivity platform tailored to their unique workflows. I personally find it indispensable for my daily work. This is further underscored by the remarkable results of our in-depth user research during due diligence, where a staggering 98% of respondents reported a significant increase in their Raycast usage over the past six months."
Luca Eisenstecken
Partner, Atomico
Use of funds
- 01Continue product development
- 02Grow the team
Investors
Luca Eisenstecken
Atomico
Accel
Coatue
Y Combinator
Atlassian Ventures
World Innovation Lab
Guillermo Rauch
Thomas Dohmke
Tobi Lütke