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Funding the future of Coda
Funding the future of Coda

We raised a Series C round, and we can’t wait to show you what we’ll build next.

We raised a Series C round, and we can’t wait to show you what we’ll build next.

Coda

⁠

We're excited to announce that we’ve raised an $80 million round led by Mamoon Hamid from Kleiner Perkins. Here’s what it will mean for our growing maker generation and the 25,000+ teams using Coda.

About the round

If you don’t know

Mamoon⁠

, he is one of the most respected B2B venture capitalists around. He’s credited with being one of the earliest investors in Slack, Figma, Box, Yammer, Intercom, and now Coda. After talking to us and our customers, studying graphs, and projecting numbers, Mamoon saw Coda’s potential to shape the future of work. He will be joining our board, along with our long-standing patrons and fellow workplace futurists Reid Hoffman, Hemant Taneja, and Quentin Clark.

It’s clear that there is true value in Coda’s vision for the world, that if given the right set of building blocks, anyone can make a doc as powerful as an app. Today, Coda is more relevant than ever as teams adapt processes and sharpen their workflows. I’m thrilled to join the board and help the company scale the traction they are already seeing across teams. ー Mamoon Hamid, Kleiner Perkins

This Series C round also includes new participation from five other VC firms, all of whom had their own reasons for investing.

⁠

S. Somasegar⁠

(Soma) at

Madrona Venture Group⁠

led the developer division of Microsoft for years and now looks for technology that will usher in a new era of collaborative, adaptable workplaces. He immediately resonated with our mission to empower the maker generation, but it was the firm’s own usage of Coda that really clinched the deal. You can read more in their thoughtful

Madrona's Investment Decision System⁠

doc.

⁠

Michael Skok⁠

Underscore VC⁠

talked to a few of the 25,000 teams using Coda and saw first-hand how a doc can connect disparate systems and workflows. Case in point: the firm is using Coda to run its entire investment system and manage their

team⁠

⁠

Roseanne Wincek⁠

Renegade Partners⁠

has invested in companies like MasterClass, Glossier, and Looker, and is now co-founder of the newly-minted Renegade. She believes in the power of the maker generation. Coda is not only the new firm's first investment but also

how they drive cohesion and collaboration⁠

across their own team.

⁠

Rohini Chakravarthy⁠

NGP Capital⁠

invested in Coda as part of their future of work and enterprise investment focus. She was inspired by our

Packs⁠

ecosystem and the promise of a super-connected Internet. NGP Capital has integrated Coda to their AI platform, Q, that powers market discovery and automates their investment workflow. NGP Capital is also releasing

a simple CRM for VCs and angel investors,⁠

a subset of Q, as a published Coda doc today.

⁠

David Hawkins⁠

Hawk Equity⁠

is keen on forecasting the future of work. He predicts that Coda, and the ability to make one’s own tools, will be necessary for businesses to adapt to our changing times. David even published a Coda doc to

brainstorm ideas⁠

what post-COVID-19 life will look like.

These VCs are joined by our existing investors—Greylock, General Catalyst, and Khosla Ventures—as well as a

vast network of angels⁠

ーtech veterans like Ev Williams (CEO of Medium), Tamar Yehoshua (CPO of Slack), Alyssa Henry (CTO of Square), Mark Pincus (founder of Zynga), Claire Hughes Johnson (COO of Stripe), and Rahul Vohra (CEO of Superhuman). Plus other folks like Jed York (CEO of the 49ers), Annie Duke (professional poker player), and Jeffrey Katzenberg (film producer). And

a lot more⁠

. We’re so thankful for their support.

OK. “

Enough of this term sheet,⁠

” as someone said in our all-hands. Let’s talk about how we’re investing the money.

What it means for Coda

With all these backers joining the maker generation, we’re more equipped than ever to reimagine docs. In the past year, we’ve made big progress in making Coda simpler, cleaner, and faster for your team; now you can expect even more. While it’s hard to pinpoint an exact roadmap given

the velocity at which we ship and iterate⁠

, we can tell you about three key themes we’re thinking about.

Invest in the fundamentals.

As a product grows, you need to continuously revisit the basics to ensure the foundation is solid and performant. There are many parts to a performant doc, and we’ll be investing aggressively across all of them, so Coda feels snappy for the 25,000 teams that use it. We recognize that some of our larger enterprise teams have distinct IT needsーfor data, security, administrative control, and connectivity, for example. We’ll be investing in those areas too. Coda is the doc for teamsーwhether they're building a scrappy startup or managing operational systems at a giant enterprise.

Make simple things easy.

Making simple things should be easy. We’ll continue to obsess over your most common interactionsーlike taking

meeting notes⁠

and writing

project briefs⁠

ーsmoothing out rough edges, squashing bugs, and shipping new improvements to make Coda more accessible to more of your teammates.

An ecosystem of docs and Packs.

One of the things we often hear about Coda is that Coda feels like much more than just the product, it feels like a community of makers. We leaned into this idea with

the Doc Gallery⁠

, where makers can share their tools and best practices with the world. Because the more we share, the more we can learn, and the smarter we can work and live. We’ll keep building on that effort, recruiting more makers to open-source their wisdom. And we’ll be focusing on another part of our community: Developers. Now that we have a

v1 of our API⁠

, we’re continue to expand our third-party ecosystem. We’ll be investigating new partnerships and dev relations, and of course we’ll be working our way down your growing

Packs requests list⁠

We’re hiring!

In order to accomplish all this, we’ll need a lot more Codans. We're hiring for a wide array of positionsーespecially in engineering and go-to-market. Even if you don’t see the perfect role, if you’re passionate about empowering others to build their own tools, we’d love to hear from you. And tell your friends.

⁠

See jobs

⁠

Fundraising is just one type of investment. As makers, you’ve been investing in us for years: Reporting bugs, publishing docs, convincing your teammates. Thank you for that. We can’t wait to see what you Coda next.

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Want to learn more? Maria and Shishir will be hosting a webinar on August 19. Come join the discussion and hear more about the fundraising process and our plans.

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