Asana, a San Francisco, CA-based work management platform for teams, closed a $50m Series E equity funding.
The round, which valued the company at $1.5 billion, was led by Generation Investment Management, with participation from existing investors 8VC, Benchmark Capital and Founders Fund, and new investors Lead Edge Capital and World Innovation Lab.
The company intends to use the funds to continue its growth, focusing on key areas of enterprise scale, global expansion and product innovation.
In details, Asana plans to:
– expand its global infrastructure capabilities with the opening of an EU data center with a Frankfurt-based data center slated for opening in the first half of 2019.
– expand its global presence in Asia Pacific, starting with a strategic presence in both Sydney, Australia and Tokyo, Japan—two leading centers of technology and future of work innovation.
– accelerate the delivery of the product roadmap with a focus on allowing leaders to plan, manage and monitor their most important initiatives.
Led by Dustin Moskovitz, co-founder and CEO, Asana provides teams with a platform to organize and manage all of their work, from small projects to strategic initiatives. The company has more than 50,000 paying organizations such as AB-InBev, Airbnb, Disney, KLM Air France, NASA, Overstock.com, Uber, Viessmann Group, Vox Media, and Zalando and millions of free organizations across 195 countries.