Fb cofounder Dustin Moskovitz explains how his $1.5 billion startup Asana hit a $100 million milestone
- Asana introduced Wednesday that it crossed $100 million in annual recurring income, rising over 90% in income final yr.
- Asana CEO and cofounder Dustin Moskovitz, additionally a Fb cofounder, says that this development is in enormous half as a consequence of Asana increasing its worldwide presence.
- Asana is planning a collection of launches this yr focusing extra deeply on particular sectors, beginning with advertising and inventive groups.
The collaboration and productiveness software program startup Asana is now raking in $100 million in annual recurring income, the corporate introduced Wednesday.
Asana, which was co-founded by Fb cofounder Dustin Moskovitz, grew by greater than 90% in income final yr, notching its eight consecutive quarter of topline development. Now, it has over 60,000 paying organizations and about 450 staff worldwide, the corporate says. Buyers are paying consideration too, valuing the startup at $1.5 billion in a December funding spherical during which Asana raised $50 million.
A giant a part of Asana’s development has come from its worldwide focus, Moskovitz tells Enterprise Insider. He sees extra alternative abroad within the coming yr.
Proper now, Asana has about 50 staff in Dublin, supporting the European market, and it lately established an workplace in Sydney to help Australia and Asia. And final yr, Asana labored on translating its product to Spanish, German, Portuguese, French and Japanese.
“Quite a lot of it has actually been pushed by the expansion internationally, however we’re rising even quicker in Europe,” says Moskovitz, who serves as Asana CEO. “We translated the product, and that made it accessible to an enormous chunk of the world. We have additionally been establishing our presence globally.”
Asana CMO Dave King says that over half of Asana’s enterprise now comes from outdoors the US.
Asana’s development technique
After launching two main merchandise in 2018, Asana says the plan this yr is to drill deeper into sure sectors. On Wednesday, the corporate introduced a product particularly for advertising and inventive groups.
Learn extra: This Fb cofounder’s $900 million startup has a brand new plan to go after large enterprise clients
As company advertising groups are tasked with producing extra forms of content material and advert campaigns, Asana is positioning its on-line collaboration instruments as a solution to streamline that work.
“There is a large shift, now with the cell and digital period that groups are anticipated to place out much more content material quicker,” King informed Enterprise Insider. “Unusually sufficient, behind a few of the world’s most iconic manufacturers are actually nasty spreadsheets and by no means ending electronic mail chains. There’s by no means been a system for them to handle their course of.’
Moskovitz says Asana nonetheless has a lot to do by way of rising and reaching extra clients internationally. Later this yr, Asana plans to open up a knowledge middle in Frankfurt and broaden its workforce from 450 to 700 staff worldwide. This consists of doubling the scale of the Dublin workplace, since Asana has seen particularly excessive development in Europe, Moskovitz says.
“Now we have actually nice perception into what our clients want subsequent,” he mentioned. “We see a powerful response from our present clients and are reaching the subsequent set of shoppers who want extra performance earlier than they’ll get on board.”
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