Meeting productivity platform Do has wowed its particular corner of the market with two announcements. One, it has raised $2 million in seed funding. Two, it's integrating with Microsoft Office 365.
It is, in short, a heady day for a company not quite a year old but with excellent tech pedigree.
Do launched in July 2014 with backing from SherpaVentures, SherpaFoundry and Salesforce and headed by Jason Shah, previously a product manager at Yammer.
Its target was the $37 billion worth of knowledge worker productivity lost to bad meetings every year, a target it attacked with a novel mix of tools for users to take meeting notes, share files, assign tasks, and send out meeting summaries.
To date its approach has clearly resonated: more than 5,000 companies are using the platform, including employees from Costco, Domino's, the United States government.
Boosting Do's Profile
Integrating with Office 365 will clearly boost Do's profile, Laura DiDio, director of Strategy Analytics, tells CMSWire.com.
"There are a lot of great point products out there with a small but devoted user group and that offer great functionality. This will be great for Do.com since they aren’t well know and need exposure." Office 365 will benefit as well, she points out, as it could fill a gap in its own product functionality.
The folks at Do, though, are more focused on what the Office 365 integration means for its user base. When Do launched in July of 2014 it initially only offered an integration with Google, the company noted in its blog post reporting the change.
"Starting today, anyone who has an Office 365 account will be able to sign up for Do and start using it to help run productive meetings," it announced.
"Now millions of people around the world can leverage their Office 365 calendar systems to be organized for meetings and get more out of their work in addition to classic productivity tools such as Microsoft Word, OneNote, and the rest of the Office 365 suite."
Do and Microsoft worked closely on the integration, the company reported. Now when users sign into their Office 365 accounts they can see all of their meetings, both past and future, on the scroll timeline.
It is a seamless workspace "built on top of the existing platform so Microsoft Office 365 users can plan agendas, take meeting notes and get work done." The same integrated functionality has been extended to the company's mobile apps for iPhone and iPad.
Do is going to market with its integrated offering at a time when demand is high for better productivity around meetings. So far, the productivity revolution seems to have left this sector behind, says Alan Lepofsky, vice president and principal analyst at Constellation Research.
There have been advancements in enterprise tools such as messaging, file-sharing and task management, but until now, little innovation around meetings, he said.
"A single tool that brings together the people, content and action items from before, during and after a meeting could provide a significant improvement in the way people get their work done."
Seed Funding Support
The funding Do raised also supports this narrative – that is, a growing demand for meeting productivity tools.
The seed round includes such investors as New Enterprise Associates, Slow Ventures, Nas of Queensbridge Venture Partners, Zynga founder Mark Pincus, Chegg co-founder Aayush Phumbhra, Cotap CEO and former Yammer Chief Product Officer Jim Patterson, along with others.
"The modern workforce is increasingly mobile and distributed around the world, placing new demands on collaboration tools and platforms," said Jon Sakoda, general partner at NEA. "Do is giving thousands of companies a simple yet robust solution for running meetings more effectively, enabling them to be more innovative and productive in today's rapidly changing business world."
Do plans to use the funding proceeds for expanding its team and growing the product. It also plans to launch a premium enterprise offering.