LaunchNotes raises $15M Series A from Insight Partners to Advance and Accelerate the Next Generation of Product Teams
SAN FRANCISCO, June 2, 2022 /PRNewswire/ -- LaunchNotes, the personalized, automated, and secure way to connect your teams and users to your product development lifecycle, today announced it has raised a $15M Series A round led by New York-based global venture capital and private equity firm Insight Partners, with participation from Atlassian Ventures, The New Normal Fund, Essence VC, and existing investors Cowboy Ventures and Bull City Venture Partners. This funding will support the expansion of LaunchNotes from a product change communication solution to a full platform for Product Success.
With a suite of tools for targeted announcements, feedback collection, roadmap sharing, and more, LaunchNotes helps product teams keep their customers, colleagues, and other key stakeholders connected to the product development cycle, ultimately creating happier, stickier customers. LaunchNotes is helping fuel the success of leading product teams across the SaaS industry, including Loom, Hopin, Drata, Flatfile, Amplitude, MURAL, and many others.
"Our growth trajectory over the past two years has come with a rapid pace of execution," said Brian Elmi, VP of Product at Drata. "At such a crucial time, when engaging with existing customers could easily fall through the cracks, LaunchNotes has allowed us to 4X our cadence of relevant updates and delight customers with targeted, meaningful communication."
In just two years LaunchNotes has achieved breakout traction with its initial product offerings. Last year, the business reported 650% revenue growth and 300% new customer growth. Additionally, LaunchNotes-powered product updates are now reaching over 500,000 users per month.
"Our ultimate goal is to provide everything product teams need to succeed and excel in the modern world," said Tyler Davis, LaunchNotes' Co-Founder and Chief Executive Officer.
"We're going to be laser focused on unlocking Product Success by modernizing the product development cycle for teams everywhere. We're excited to deliver a Product Success Platform that connects the core parts of the development cycle — such as comms, feedback, and planning — into a unified customer experience. By creating this seamless loop and removing the most common pain points, we will enable the product teams of today to build the great technologies of tomorrow."
Ryan Polk, Insight Partner's Head of Product, joined LaunchNotes' Board of Directors as a part of the fundraise. "As a former Chief Product Officer, I have led many product teams over my career, and I am very familiar with the pain points the LaunchNotes team is solving. Dramatically increasing the ability of product teams to engage and interact with their customers is one of the most potent opportunities in today's software-driven economy. We're excited to partner with LaunchNotes on this ambitious mission."
LaunchNotes' CEO Tyler Davis and COO Jake Brereton, co-founded the company after working at Atlassian in senior roles across Engineering, Product, and Marketing.
"Tyler and I had the opportunity to work with thousands of software development teams in our time at Atlassian, and it became clear to us that the tools powering engineering teams were far outpacing those available to the rest of the product organization," said Brereton. "We saw a massive opportunity for a Product Success Platform to close this gap."
"It's rewarding to partner with Atlassian alumni and support their success," said Matt Sonefeldt, Head of Atlassian Ventures. "In LaunchNotes, Tyler and Jake empower teams to strengthen bonds between users and products. This is an exciting example of channeling Atlassian's innovation culture to impact our 200,000+ cloud customers."
"Given that Atlassian is the industry leader in software collaboration, having the support of Atlassian Ventures is not only incredibly validating to our mission, but also a significant advantage as we continue to win the hearts and minds of software teams everywhere," highlighted Brereton.
To learn more about LaunchNotes, visit their website at https://www.launchnotes.com.
LaunchNotes provides a Product Success Platform to modernize the product development cycle for the next generation of software-powered companies. With a full suite of tools for targeted announcements, feedback collection, shareable product roadmaps, and more, LaunchNotes helps teams keep their customers, colleagues, and other key stakeholders securely connected to the product development lifecycle. The platform is trusted by some of today's leading technology companies, including Loom, Hopin, Drata, Flatfile, Amplitude, MURAL, and many others. LaunchNotes' leadership team has a successful track record of running product, engineering, and go-to-market teams at some of Silicon Valley's most successful companies, including Atlassian, Autodesk, and Mozilla. To date the company has raised over $16 million from top investors. To learn more, visit launchnotes.com.