Announcing Firstbase’s $50M Series B
Mar 25, 2022
We are thrilled to announce $50M in Series B funding, led by Kleiner Perkins, and welcome Josh Coyne to our board.
Today is an important day for Firstbase.
We are announcing $50M in Series B funding led by Josh Coyne at Kleiner Perkins, with participation from our existing investors, David Ulevitch at A16Z, David Goldberg at Alpaca Ventures, and James Murphy and Michael Cardamone at Forum Ventures.
This will let us move even faster in helping the companies worldwide provide incredible experiences to their teams.
We built Firstbase to solve the hardest challenges companies face when they decide to support more flexible ways of working. Over the last 2 years, more than 20,000 companies representing 40M+ employees reached out to Firstbase to learn more about how we can help solve that pain.
Since then, we’ve begun working with companies across the globe, starting with the fastest-growing startups and to publicly-listed businesses. Between closing our Series A in early 2021 and today, we have grown rapidly. Revenue increased 20X, clients 10X, and our team expanded 8x. Every company, no matter the size, faces the same challenges in today's flexible working environment.
There are 255M desk jobs globally, and by 2030 almost all of them will be done remotely at least part-time. By helping companies choose more flexible ways of working, we have the opportunity to enable millions on people globally to access a higher quality of life: that is our mission.
Few Series A startups get to build a product that’s almost immediately utilized by thousands of workers at leading enterprises. Over the last 24 months, we’ve done exactly that. This round of fundraising allows us to take what we’ve done for today’s clients and scale it to thousands of other companies, enabling millions to do great work from anywhere.
Even fewer companies have the opportunity to build a generation-defining business. Firstbase is establishing an entirely new category which every company that wants to be successful in a new era of remote work needs. Our software is the first thing an employee touches after they sign an offer letter. We’re there to deliver a perfect first day experience. We walk with them through their time at the company and take care of the needs that arise. If things go wrong, we are there to make it better, and upgrade equipment if they stay long enough. If they leave, we are the last software they touch, creating a smooth and positive offboarding experience.
Our opportunities extend to every point between each of those moments. Firstbase is building the Employee Experience Management platform (EXM) for modern work. We’re embedded with our clients' IT and HR teams, making their jobs easier by delivering all the technology, furniture, and other equipment needed to create an incredible remote work experience. From there, we will continue to build the core infrastructure every team needs to set up, support, and scale global teams. Eventually Firstbase will interface with all the tools and equipment they already use.
Why this matters
Firstbase emerged after I missed my kids walking, laughing, and talking for the first time. I became a remote worker to make sure that I never missed anything else, and a remote work evangelist to ensure the same for others. And when the global pandemic accelerated remote work trends and introduced the concept to more and more organizations, Firstbase was poised to answer the call.
I’m proud to say Firstbase has helped teams worldwide experience the higher quality of life that comes from effectively working from anywhere. While the requirements of remote work haven’t changed, employee expectations of what constitutes a great remote work environment have evolved quickly.
Remote work is no longer about the future of work, it is about enabling a better future of living. Firstbase is the core infrastructure that companies will rely on to set up, support and scale their teams, as well as help workers access the flexibility they crave more frequently.
Nothing we have achieved over the last 2 years would have been possible without the dedication of our team who have joined us along the way. I’m very lucky and grateful to get to build Firstbase with the most talented, kind, and hardworking team I have ever met. I am so grateful that you chose to join us. Thank you all for everything that you do and I couldn’t be more excited about the opportunity to continue building with you.
Firstbase will become a generation-defining company as we add to the amazingly talented team members who have already joined us on our mission.
We are incredibly lucky to get to work with some of the most helpful investors in the world. David Ulevitch, Peter Lauten and the entire team at A16Z in particular (Theresa, Matt, David, Charles, Angela) thank you for all your support over the last 12 months.
James Murphy (Acceleprise), Karen Page (GP at BCapital Group), Beth Turner (General Partner at SV Angel), Johnny Boufarhat (CEO at Hopin), Mac Reddin (CEO at Commsor), Austin Rief (CEO at Morning Brew), Rob Biederman (Chairman at Catalant), Ryan Simonetti (CEO at Convene), Alana Anderson (GP at BaseCase Capital), Andreas Klinger (GP at Remote First Capital), Adrian Aoun (CEO at Forward Health), Lucy Guo (CEO at Backend Capital), James Watt (CEO at BrewDog), Henry Armistead (VP at Southstreet Partners), Lorimer Ventures, Peggy Mangot (Partner PayPal Ventures), Drew Tunney (CTO at Voro), and Cyan Bannister (GP at Long Journey Ventures). Balaji Srinivasan, and everyone else who has helped us along the way, thank you!
Time to get to work and deliver the infrastructure the worlds best companies scale on top of 🚀