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Raycast raises USD15m in Series A led by Accel and Coatue

Raycast, a platform that provides developers with quick access to their tools, has raised USD15 million in a Series A funding round led by Accel and Coatue. 

Also participating in the round were angel investors Johnny Boufarhat, CEO and founder of Hopin; Jeff Weinstein, Product at Stripe; Jason Warner, former CTO of GitHub and Ott Kaukver, CTO of Checkout.com and ex-CTO of Twilio, among others. The investment will be used to double down on building Raycast’s community of developers and tools, accelerate platform growth and, for the first time, bring Raycast to teams.
 
Raycast was founded in 2020 by former Facebook software engineers Thomas Paul Mann (CEO) and Petr Nikolaev (CTO), who wanted to recover the time developers lose every day due to continuous context-switching between different SaaS tools. Raycast makes it easy, fast and delightful for developers to find and update information with its command line inspired interface, enabling automation of day-to-day processes and tasks, and allowing them to focus on the work that matters. 
 
In just 12 months, Raycast has quickly gained traction and grown its daily active user base from 130 in October 2020 to over 11,000 to date, with more than 20 million actions performed on the platform in that time. It also launched its Extensions API and Store in public beta, giving developers the ability to build custom extensions in less than 30 minutes and share them with their team or community to speed up common tasks. In just one month, the community built more than 100 extensions on the beta, connecting to services like Figma, GitHub, Chrome, Notion, YouTube, Twitter and many more. Today, Raycast is publicly launching the Extensions API and Store, opening it up to developers around the world and enabling the creation of a truly global ecosystem of productivity tools.
 
Raycast intends to use today’s funding to double down on building its community of developers and tools, accelerate growth on the platform and, for the first time, bring Raycast to teams. While still heavily focused on individual developers, Raycast sees huge potential in making it easy to share productivity tools and workflows with others and believes this is especially applicable within teams. From today, companies will be able to sign up for an early access programme to new team features. This will grant them the ability to create their own internal store, where they can build and distribute custom extensions, links and snippets specific to the needs of the team. 
 
“We’ve been blown away by the response from our community since launching in public beta,” says Raycast CEO Thomas Paul Mann. “It’s always been our goal to create a platform and developer community based around productivity; and with today’s funding and the public launch of our API and Store, we believe we’re well on our way to achieving that. Our community jumped on the API when it was in public beta, and we can’t wait to see what custom extensions they will build in the months to come. We’re also incredibly excited to, for the first time, grant early access to our new team features, and we hope it can make building and distributing internal tools even easier for businesses as well as individuals.”
 
“Since leading Raycast’s seed investment, we’ve been impressed with the growth and traction Raycast has seen in the developer community,” says Andrei Brasoveanu, Partner at Accel. “This backs up our initial belief that Raycast has the potential to become an indispensable tool for developers, and we’re excited to see the team go even further with the launch of the API and Store and expansion to teams. We’re delighted to continue supporting Thomas and Petr on their ambitious journey.” 
 
“We’re excited to be co-leading Raycast’s Series A,” says David Cahn, Partner at Coatue. “Too many developers are losing time that could be spent on core work because they’re jumping between non-coding tasks or searching for information across different SaaS tools. We feel Raycast offers a powerful platform for developers to speed up common tasks. We’re looking forward to working closely with the team to scale from here.”

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