Total amount raised
$51 Million
Latest funding date
5/1/2022
Location
Assembled has successfully raised funding through three rounds, with notable investors including Basis Set Ventures and Emergence Capital. The company offers a unified platform designed to help modern organizations scale their customer support teams by integrating AI and human expertise.
Keep reading to explore the intricacies of Assembled's fundraising journey and the investors backing this innovative platform.
What Is Assembled?
Assembled is a workforce management platform based in San Francisco, California, designed to help modern organizations scale their customer support teams. The company operates in the Customer Service, Information Technology, Scheduling, and Software industries.
With an employee count ranging from 101 to 250, Assembled leverages AI-driven solutions to optimize support operations. Their platform includes features like scheduling, forecasting, and real-time analytics, blending human expertise with AI efficiency.
How Much Funding Has Assembled Raised?
- Seed Round
- Amount Raised: USD 3,100,000
- Date: March 2020
- Lead Investors: Stripe
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of the platform and validate the market need for workforce management solutions.
- Series A
- Amount Raised: USD 16,600,000
- Date: March 2021
- Lead Investors: Emergence Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team, enhance product features, and scale operations to meet growing customer demand.
- Series B
- Amount Raised: USD 51,000,000
- Date: May 2022
- Lead Investors: New Enterprise Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development, hiring, and scaling the platform for enterprise customers.
Total Amount Raised: USD 70,700,000. Current Valuation: Not publicly disclosed.
Key Investors
- New Enterprise Associates (NEA)
- Details: NEA is a global venture capital firm with nearly $24 billion in cumulative committed capital since its founding in 1977. The firm has a track record of over 260 portfolio company IPOs and more than 430 mergers and acquisitions.
- Investment Focus Areas: Technology, healthcare, various stages of a company's lifecycle.
- Notable Investments: Not specified in the provided sources.
- Emergence Capital
- Details: Emergence Capital is an existing investor in Assembled, participating in multiple funding rounds. The firm focuses on early and growth-stage enterprise software companies.
- Investment Focus Areas: Enterprise software, SaaS, cloud computing.
- Notable Investments: Not specified in the provided sources.
- Basis Set Ventures
- Details: Basis Set Ventures is a venture capital firm that invests in early-stage technology companies. They participated in Assembled's Series B funding round.
- Investment Focus Areas: Artificial intelligence, machine learning, automation.
- Notable Investments: Not specified in the provided sources.
- Stripe
- Details: Stripe is a technology company that builds economic infrastructure for the internet. They led Assembled's seed funding round.
- Investment Focus Areas: Fintech, payment processing, e-commerce.
- Notable Investments: Not specified in the provided sources.
What's Next for Assembled?
Assembled is poised to capitalize on the growing demand for efficient workforce management solutions, driven by trends like distributed work and the gig economy. The company plans to expand its product development and scale its platform for enterprise customers, leveraging strategic partnerships with leading CX companies. With a 5x increase in revenue and a tripling of its customer base, the potential for growth is substantial.
Future fundraising opportunities appear promising, given the significant market demand and the involvement of prominent investors like NEA. Assembled's rapid growth and strategic milestones make it an attractive candidate for further investment. However, the company will need to navigate challenges such as managing rapid growth, staying ahead of competitors, and addressing the complexities of support management in a distributed work environment.
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