London, December 3, 2014, 12pm GMT — European startup, 4th Office has successfully raised a second round of funding. A number of highly experienced investors are backing its mission to free businesses from their over-reliance on email. It achieves this through a cloud workspace combining communication, task and document management tools. Solving the critical problem of effective team collaboration in the digital age puts it head-to-head with #slack which was recently given a $1bn valuation.
While the email overload issue has been in the headlines as businesses look with increasing urgency for a viable alternative, 4th Office also solves other important issues around tasking, document versioning and review – and ultimately the fragmentation of digital IP and worker focus, attention and productivity that is at the root of the frustrations with email.
£750k of first round funding round has now been followed up by this round of £2.3 million led by new investors RSG Capital and Ben White with participation from existing investor Notion Capital.
Since the first round of funding, thousands of new businesses have been added, monthly active users and retention rates have doubled. More than 15,000 people now start their day on the company’s platforms*. The second round of funding will build traction through engaging with communities in social media and digital word-of-mouth. The company plans to build on its world-class product development team who continue to evolve the product capabilities to incorporate customer and partner feedback. The company rebranded and relaunched its platform interface earlier this month to great customer approval.
“Our vision is for every business to start their day in the 4th Office, rather than waking up to a wall of emails. We are passionate about creating a more productive, happy and creative economy for workers worldwide,” noted Bostjan Bregar CEO and co-founder of 4th Office.
Leading entrepreneur-turned investor Ben White, said: “The 4th Office is everything a great entrepreneurial tech idea should be – it solves a major, burning need in a unique way. It’s a win-win for businesses: lower costs yet more productivity – with less stress.”
“Even though we have exchanged physical and electronic mail for tools allowing quicker and more efficient communications in our private lives, our business lives are still dominated by outdated technology. Modern companies operate across locations, and their need for effective communications is even greater. 4th Office solves these challenges,” Commented RSG Capital’s Jure Mikuz.
The 4th Office takes minutes to set up, and is available totally free for entry-level use, with two very simple and low cost pricing tiers for business and enterprise use. www.4thoffice.com
Notes to editors
* The 15,000 user number is based on the total amount of users across the two versions of the platform as of Summer 2014.
Background of the 4th Office
The story of the 4th Office started 10 years ago when co-founders Bostjan Bregar and Andrej Kuscer brought to life their desire for helping businesses modernise the way they work. The pair set the business up off the back of their passion for how technology can empower entrepreneurs to make their businesses more efficient and profitable, as well as solve the age-old work/life balance problem. The 4th Office is a structured cloud workspace that empowers teams to work together efficiently in one modern workspace, whether they’re in the same room or on the other side of the world. Based across Slovenia and the UK, they have long embraced the 4th Office way of working – expanding and shrinking resources and skillsets as required through a combination of full time employees, freelancers and partners. 4th Office was formerly known as BCSocial.
For more information go to: www.4thoffice.com
About Notion Capital
Notion is an entrepreneur-backed venture capital firm focused on high potential businesses in the Cloud Computing and Software-as-a-Service (SaaS) markets. The Notion team has unique expertise and experience in the Cloud Computing market having founded, built and exited two highly successful businesses in the space – Star and MessageLabs. Companies within Notion’s portfolio include Adbrain, Brightpearl, Duedil, Glow, Wercker, NewVoiceMedia, The Currency Cloud and Tradeshift. For more information go to: www.notioncapital.com