Comcast Ventures, the corporate venturing arm of mass media group Comcast, led a $10.6m series A for US-based workforce productivity management platform Hive on Tuesday.
The deal was rounded off by venture capital firms Tribeca Venture Partners, Vocap Investment Partners and Rembrandt Venture Partners.
Founded in 2015, Hive has developed an analytics-equipped workforce management software with features such as project dashboards, meeting notes and instant chat designed to help employers optimise their businesses.
Hive’s client base includes the US government in addition to corporates such as ridehailing service Uber and coffee chain Starbucks.
The capital will drive Hive’s new marketing strategy, building on earlier word-of-mouth promotions, as Hive looks to bring in features such as automated email management and real-time minutes of meetings.
The business collected $4m in a 2017 seed round led by Vocap Investment Partners and backed by both Rembrandt and Tribeca, after raising $1m of a targeted $1.6m round from unnamed investors in 2016, according to a regulatory filing.
Andrew Cleland, managing director at Comcast Ventures, said: “More companies from small businesses to large enterprises are poised to embrace process management tools and automation at scale.
“Hive has produced one of the best-rated products on the market, and we are thrilled to partner with the management team to accelerate the company’s growth.”