Spike Closes Series A Funding to Launch New Products That Reimagine The Future of Collaborative Digital Workplaces

As Global Companies Set Permanent Remote Work Guidelines, New Capabilities Are Designed to Unify Workflow and Simplify Real-Time Remote Teamwork

SAN FRANCISCO and TEL AVIV, Israel, June 11, 2020 /PRNewswire/ — As a new age of digital collaboration begins and businesses worldwide re-envision the future of their workspace, Spike, the conversational work ecosystem, today announced that it has raised $8 million in Series A funding led by Insight Partners, a leading global venture capital and private equity firm focused on investing in ScaleUp software companies, to support its development of new collaboration tools for this fully-digital workforce. The company has launched a suite of new, seamlessly integrated essential real-time communication and workflow capabilities, including tasks, to- dos, notes and documents. Unlike many siloed collaboration tools and digital workspace solution products, Spike is the world's first application that combines productivity tools and email into a powerful inbox.

By adding notes, tasks and real-time collaboration capabilities in this latest update, the company has built a productivity layer on top of its revolutionary conversational email app to reduce the number of apps used for work. Seamless integration of these tools in the Spike platform allow for real-time collaboration and will instantly sync across all devices. Users have easy access to viewing task status and updates to shared notes and documents, as all changes send automatic notifications to the top of the inbox feed. With built-in chat functionality, Spike users can have a conversation while creating and editing in real-time, while never leaving their email inbox.

"Now, more than ever, teams and individuals need to be connected and aligned as we continue working from home in the largest numbers ever seen. Spike is positioned to lead the entire modern workspace and reinvent how we work by combining email with essential services to get the job done without spending time switching between platforms," said Dvir Ben-Aroya, Spike co-founder and CEO. "Up until now, Spike has primarily been rethinking how email should work by turning legacy email into chat-like conversations. Today, in our latest update, Spike adds tasks, notes and real-time collaboration into the world's most powerful email inbox to set the stage for how we will get work done in the future – together, in one feed, in real-time."

Following this Series A investment round, the company has raised a total of nearly $16 million to date. Previous investors that participated in this funding round included Wix, NFX and Koa Labs. Insight Partners Vice President Daniel Aronovitz will join Spike's Board of Directors as part of the investment deal.

This new funding will help Spike accelerate growth, add more collaborative tools and services to its platform and double the size of its team within the next year. With global workforces shifting to permanent and flexible work from home environments, employees need tools that promote collaboration in a unified environment. Spike's vision for the future of work drastically reduces the friction workers feel with fragmented apps by unifying their work into a single platform.

"Many companies are trying to define the future of workspace technology, but unlike many other work management products, Spike understands that email will always be at the center of how we work. By combining a smart inbox with other essential collaboration capabilities, the team has developed an incredible and intuitive solution to help people work smarter," said Aronovitz.

"We're excited to partner with Spike as they reach this next milestone in making the way businesses work more conversational and streamlined," added Jeff Horing, Co-Founder and Managing Director, Insight Partners. "Companies from small businesses to large corporations have different scales for managing workflows, but by centralizing the inbox around groups and conversations, Spike has found a solution that will fit any business. Especially now, time and money saved collaborating makes an incredible difference in a company's bottom line."

For more information about Spike, please visit www.spikenow.com.

About Spike:
Spike brings your entire workspace into your inbox: email, chat, calendar, calls, team collaboration, and tasks in one place. Stop switching between apps, cut distractions, and focus on what's important without ever leaving your inbox.

Spike's conversational email fuses traditional email with instant messaging — eliminating cluttered email threads. With real-time conversations and live collaboration, Spike allows for better interactions and a more human communication experience. With built-in team chat, Groups can be used to facilitate collaboration and manage projects. Integrated file management and storage allows users to access and preview any file type without downloading.

Spike works on top of your existing email and is available on iOS, Android, Mac, Windows and web. This gives you a seamless, unified, and powerful workspace for all you and your team's work. For more information, visit www.spikenow.com.

About Insight Partners:
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @insightpartners.