Whimsical, a Latvian visual workspace for teams, raises $30M Series A

Whimsical, a startup creating tools for workspace collaboration, has closed its first $30 million funding round. It was a Series A investment led by Accel, TechCrunch reports.

  • The startup was founded in 2017 by Kaspars Dancis, an American developer who is originally from Latvia. His company’s goal is to make distributed work better than when it was offline by focusing on content and collaboration.
  • Whimsical aims to make work collaborative, distributed, and quick, enabling teams to create and share flowcharts, wireframes, mind maps, sticky notes, and documents without having to open another tab or website.
  • Its Series A round was led by Accel, a venture capital fund that has a 35-year history of backing companies such as Dropbox, Etsy, Facebook, and Spotify. Basis Set Ventures, several angel investors, and CEOs of Dropbox, Stripe, GitHub, and Google joined the round.
  • The funding follows four years of growth, Dancis says to TechCrunch. In the past 12 months, Whimsical’s revenue saw three times growth. And it has already acquired a couple of million total users at companies like Intercom, Netflix, and Twilio.
  • Whimsical plans to spend the funds on further developing the product and applying go-to-market strategy more easily.