For many companies, the motto is work smarter, not harder. One way to do this is through automation. Enter Nylas, an API platform for scheduling, email and work automation used by developers and enterprises. The company announced Thursday it raised a $120 million Series C round, bringing its total funding to $175 million.
Over the last year, Nylas more than tripled its revenue and increased its employee headcount by 74 percent, according to a news release. During this time the company also expanded into healthcare, financial services, human resources and recruiting, automotive technology, and marketing and sales technology.
“Recently, businesses have increasingly recognized the power of leveraging APIs as a way to not only build better applications and experiences but do so in a shorter period of time,” Gleb Polyakov, CEO and co-founder of Nylas, told Built In via email. “As a result, we’ve seen tremendous adoption over the past year. We felt as though now was the right time to raise additional capital as a way to not only support the rapid growth we’ve seen but to put us in a position to continue scaling and to bring even more businesses and developers onto the Nylas platform.”
The Series C round was led by Tiger Global Management with participation from 8VC, Citi Ventures, Slack Fund, Round13 Capital and Owl Rock Capital. Stripe co-founders Patrick and John Collison, Klarna CEO Sebastian Siemiatkowski and Tony Fadell, the founder of Nest, also participated in the round.
The fresh funding will be used to invest in and scale Nylas’ developer experience. This includes rolling out new features and capabilities for the company’s Neutral API, which uses AI and machine learning algorithms to automate workflows. Polyakov said this automation can save the average person eight hours of work each week. The company is also looking into integrations with other tools such as Dropbox, Slack and Google Drive, Polyakov said.
Funds will also be used to grow Nylas’ go-to-market, engineering, customer support and product advancement teams. With 154 employees worldwide, Nylas is a remote-first organization, Polyakov said.
“We will be looking to make strategic hires across the board, including our product, engineering, sales, marketing and customer success organizations,” Polyakov said. “While we will be looking to hire within the regions where we have offices like San Francisco, Denver, Toronto, New York, London and Amsterdam, we will also be looking to hire quality remote talent.”
The company currently has 35 employees in San Francisco, and is actively hiring 19 people.
