setting the scene
- your company’s post-pandemic hybrid work model lets you work in the office for three days a week and at your kitchen table for two 🪑
- it’s a wfh day, and with no meetings on the calendar, you start to miss the office interactions 😢
- you call a few friends to cure the loneliness, and suddenly you’ve lost several hours of productivity 🧸
- hybrid work is certainly here to stay, but working alone doesn’t have to
- this week’s company allows remote workers to connect with others while fostering productivity
in a sentence
Groove is a mobile platform that enables remote workers to connect with others and accomplish tasks
bulleted version: similar to how WeWork’s coworking spaces foster interactions among solo workers and small teams, Groove connects workers in the remote world 👩🏼💻
the basics
- industry: future of work, productivity
- headquarters: virtual 👩🏽💻
- year founded: 2021
- company size: <10 employees
- investors: Resolute Ventures, 27V, Fresh Ventures, Full Circle, Overton Venture Capital, Verissimo Ventures, Michael Stoppelman, Clark Valberg, Sammy Rubin, Hans Rafffauf, Ben Lang, Nick Greenfield, Tom Adeyoola, Haleli Barath
- amount raised: $3.5m post-seed funding
- business model: premium model coming soon
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due diligence
what we like
- ⬆️ rise in at-home work: ~18% of people living in US cities work from home, which has tripled since 2019
- we expect this trend to continue as the rising Gen Z workforce prioritizes flexibility
- 👍 improving productivity: connecting with and motivating others in a work setting boosts creativity, well-being, and productivity
- 🗣 new connections: meeting people beyond the regular social circle is proven to help people access new information and career opportunities
potential risks
- 💲 no revenue yet: while Groove’s free model helps the company acquire users, will enough Groovers be jazzed about a premium product?
- 🔒 compliance: any community-based platform must regulate behavior to ensure respect and user safety
- ⌚️ aligning work schedules: what happens if a user starts a session and no other workers are active?
weekly cartoon
founder profiles
- Josh Greene (ceo; prev. @ inplace, WeWork)
- Tova Safra (cdo; prev. @ Voiceable, Hometalk)
- Sruli Rapps (cpo; prev. @ GoDaddy)
comps
why Groove: with over 1k users, 40k sessions, 2 million minutes logged, and high user retention, Groove is working hard to define the new 9 to 5
what do you think about this startup?we want to hear from you! |