Documentation specialist Archbee secures $1m funding led by Inovo Venture Partners
Documentation specialist Archbee today announced it has secured $1m in funding led by Inovo Venture Partners, the venture capital fund investing in technology start-ups across central & eastern Europe. Archbee has also joined YCombinator S21 cohort.
Founded in 2019 by Dragoș Bulugean, Archbee is connecting technical (i.e. developers) and non-technical (i.e. product teams) teams in companies through its knowledge spaces where teams can house vast amounts of intel about their products. This knowledge details everything from how products were created, how they work, use cases and much more. The work, commonly known as documentation in the tech industry, is often left scattered and displaced as the need to ship products faster and improve release velocity often takes precedence. However, documentation done properly has proven to help solve problems faster and support commercial goals.
Archbee, created by a developer for developers, enables them to quickly, easily and safely capture intel in the production phase and beyond to help improve business efficiencies and outcomes. Archbee offers a variety of building blocks and formatting options making it quick and easy to create and manage documentation.
Dragoș Bulugean, founder and CEO of Archbee commented: “Businesses are in a rush to create products, launch them faster and be the first to market. An important part of creating products is its catalogue or index – in essence the “how to” guide. It’s this, often neglected task, that Archbee is making easier to create. It’s not just a product manual but a central knowledge base and the true front of knowledge which is making an impact on commercial metrics – helping improve onboarding time for customers, reducing the number of support tickets and, importantly, making the products understood by users. We’re focussed on helping any company that builds software create collaborative spaces which are accessible to all and easy to use.”
Archbee is deepening their collaboration with developer tools companies and enterprise software solutions. Their end customer is a developer who assesses tools and services through documentation and less by sales and marketing collateral to evaluate how they can engage and fully understand the solution.
“Developers are increasingly being trusted with business decisions and have massive buying power. But the traditional marketing & sales tactics do not work well with developers. They dive straight into product documentation to probe for potential value of the products they’re investigating. This is why having great product documentation is becoming an effective sales tool. We’re also tackling internal documentation, which becomes a real pain when teams and products mature. Archbee is meant to be the one-stop-shop for the documentation needs of software companies,” added Dragoș Bulugean.
The US$1m fundraise will advance Archbee’s commitment to continuously improve and deliver an exceptional product to customers. In less than 24 months since launch, Archbee has 100+ customers including companies backed by top VC funds like Andreessen Horowitz (ChartHop) and Lightspeed Venture Partners (Epsagon), as revenues have increased by 20% month on month.
Maciej Malysz, Partner at Inovo Venture Partners commented: “Being the lead investor in Archbee’s recent round is a reflection of our confidence in the exceptional developer and founder, Dragoș, and his product. Archbee is a long-awaited platform that moves developers from working synchronously to asynchronously, allowing them to spend more time in deep-work mode and solve more challenging issues that demand full attention. It is already highly appreciated by developers, but also marketing and sales teams due to the ability to easily share the documentation with customers. We strongly believe in Dragoș, his team and their ultimate vision to build the best asynchronous communication tool that can be used by engineering teams globally and we’ll do whatever we can to help make that vision happen”.
“Our mission for Archbee is to become the primary tool used by devtools companies globally. In an ever remote world, we are helping teams create synergies, improve productivity and build happier teams. It’s been an incredible 12 months and we are well set to achieve much more in the next year,” concluded Dragoș Bulugean.