French startup iObeya has raised $17 million to develop its ‘digital visual management’ software and expand into the US. The round, which brings total funding to $20 million, was led by Red River West with participation from Atlantic Bridge Capital and Fortino Capital Partners. The company claims ‘demand for its platform’ is up by more than 400 percent since January.
The product is a real-time collaboration platform for enterprise teams that use Lean or Agile development frameworks, providing virtual meeting rooms, digital whiteboards, and other workflow tools. Founded in Massy in 2011, the company now serves 350,000 end users.
Commenting on the investment, co-founder and CEO Cyril Daloz said: “Our solution is uniquely positioned to lead during this unprecedented time and we’re eager to use this new investment to accelerate development, expand our U.S. and global operations, and deliver on the promise of enterprise visual management.”
The new Seattle headquarters will be led by Cisco veteran Tim McCracken. The French company also announced that Rick Tywoniak has joined as Vice President of Marketing.