/Dustin Moskovitz explains how Asana hit $100 million revenue milestone

Dustin Moskovitz explains how Asana hit $100 million revenue milestone

The collaboration and productiveness software program startup Asana is now raking in $100 million in annual recurring revenue, the corporate introduced Wednesday.

Asana, which was co-founded by Facebook cofounder Dustin Moskovitz, grew by greater than 90% in revenue final yr, notching its eight consecutive quarter of topline development. Now, it has over 60,000 paying organizations and about 450 staff worldwide, the corporate says. Investors are paying consideration too, valuing the startup at $1.5 billion in a December funding spherical during which Asana raised $50 million.

A giant a part of Asana’s development has come from its worldwide focus, Moskovitz tells Business Insider. He sees extra alternative abroad within the coming yr.

Right now, Asana has about 50 staff in Dublin, supporting the European market, and it lately established an workplace in Sydney to assist Australia and Asia. And final yr, Asana labored on translating its product to Spanish, German, Portuguese, French and Japanese.

“A lot of it has really been driven by the growth internationally, but we’re growing even faster in Europe,” says Moskovitz, who serves as Asana CEO. “We translated the product, and that made it accessible to a huge chunk of the world. We’ve also been establishing our presence globally.”

Asana CMO Dave King says that over half of Asana’s enterprise now comes from exterior the US.

Asana’s development technique

After launching two main merchandise in 2018, Asana says the plan this yr is to drill deeper into sure sectors. On Wednesday, the corporate introduced a product particularly for advertising and marketing and inventive groups.

Read extra:This Facebook cofounder’s $900 million startup has a brand new plan to go after huge enterprise prospects

As company advertising and marketing groups are tasked with producing extra forms of content material and advert campaigns, Asana is positioning its on-line collaboration instruments as a approach to streamline that work.

“There’s a big shift, now with the mobile and digital era that teams are expected to put out a lot more content faster,” King instructed Business Insider. “Strangely sufficient, behind a few of the world’s most iconic manufacturers are actually nasty spreadsheets and by no means ending e-mail chains. There’s by no means been a system for them to handle their course of.’

Moskovitz says Asana nonetheless has a lot to do by way of rising and reaching extra prospects internationally. Later this yr, Asana plans to open up an information middle in Frankfurt and develop its workforce from 450 to 700 staff worldwide. This consists of doubling the scale of the Dublin workplace, since Asana has seen particularly excessive development in Europe, Moskovitz says.

“We have actually nice perception into what our prospects want subsequent,” he said. “We see a robust response from our present prospects and are reaching the subsequent set of consumers who want extra performance earlier than they will get on board.”

Source link Businessinsider.com

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