Yac Inc., an online voice message and asynchronous communications platform, today announced it has raised $7.5 million in venture funding led by GGV Capital with additional investment from the Slack Fund, who also invested in 2020. Yac is currently developing one of the most efficient audio communication platforms for remote teams.
Yac will use the investment for product development and growth. The company expects to continue scaling its distributed teams across go-to-market, product, engineering, and operations functions. During the COVID-19 pandemic Yac increased its user base by over 400%, saw a significant increase in daily traffic with those looking for voice messaging or asynchronous meeting solutions.
GGV Capital’s investment provides Yac with access to the firm's large global network to support the company's continued growth at all stages as it goes after a massive global opportunity.
First developed in house by SoFriendly, Yac’s audio-first voice messaging platform launched in 2018 by winning Product Hunt’s Maker Festival startup competition and then received an initial investment from Boost VC and Adam Draper, all thanks to a single tweet by a Yac user who thought it deserved recognition.
“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, Yac co-founder and CEO.
Yac’s product now includes group messaging, a Slack integration and a web app, enabling Yac across many 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, investor at GGV Capital.
For additional information about the funding announcement, please visit www.yac.com/press.
About Yac Inc.
Yac provides remote teams with a voice communication platform to connect instantly with each other whether or not they respond in real-time. Teams can send a message of a photo, video, or screen recording with annotations and their voices on top of it. This helps people working from home feel more connected to their team without the interruptions or distractions of traditional messenger platforms.
About GGV Capital
GGV Capital is a global venture capital firm that invests in seed-to-growth stage investments across Consumer/New Retail, Social/Internet, Enterprise/Cloud and Smart Tech sectors. The firm was established in 2000 in Singapore and Silicon Valley and manages $6.2 billion in capital across 13 funds.
About The Slack Fund
From Slack, The Slack Fund is a venture capital fund that invests in and collaborates with entrepreneurs creating the next great software companies.
Sarah Evans, Owner