Fibery Raises $5.2M to Develop Next-Gen Work & Knowledge Management Tool for Startups
Fibery, the work and knowledge hub for startups, has announced that it has raised $5.2 million in a Series A funding round led by Tal Ventures, with additional funding from Altair Capital. This round brings total investment in the company to $8.3 million, following a $3.1 million seed round led by Altair Capital. With these funds, Fibery plans to grow its marketing and sales operations, speeding up the company’s growth with a focus on expansion and new channels.
The work management industry has hit a ceiling with time-saving productivity solutions: the current status quo is a set of highly specialized tools that are rigid and aim to solve specific needs and pain points. As a result, these tools handle work management and knowledge management separately, causing silos between departments and creating unnecessary barriers to communication and productivity.
Fibery replaces these many tools with a single, connected platform, making information discovery and sharing that much easier while increasing the probability and quality of insights that teams can glean from it. Fibery’s solution is designed to grow with the companies that use it, providing teams with the building blocks necessary to create a personalized workspace tailored to their unique, changing needs – particularly as they scale. Serving as the center of a company’s workflow, Fibery is transforming how startups understand problems, collaborate, and come up with solutions while cutting technology costs and breaking down knowledge and information silos.
“My team and I have been working diligently to reimagine the future of work and knowledge management; I am confident when I say that our solution is the next big step towards providing startups of all sizes a connected workspace best suited for their needs,” said Michael Dubakov, CEO and Co-Founder of Fibery. “We don’t claim to be building a solution that is the best at everything; rather, we are providing the essential building blocks companies need to better understand problems, collaborate, and invent solutions. We are excited to utilize this funding to build out our team and further transform, for the better, how companies can most productively work together.”
“We are thrilled to work with Fibery as we heavily support their innovative solution to numerous work and knowledge management pain points,” said Miriam Shtilman-Lavsovski, Partner at Tal Ventures. “Fibery has found a unique product-market fit, building a smart, well executed solution to help startups and enterprises work better, faster, and smarter together. The team’s transparent way of communicating their offering and internal processes has been a breath of fresh air in today’s business climate and we are excited to help them spread their mission across Europe, and eventually, globally.”
Fibery was founded in 2017 and has over 500 companies of all stages and sizes actively using its solution, including Lemonade, Pinterest, NZX, Grundfos, Optiv, and Plex. In 2022 the company saw growth of 2x MRR.