Business

Rocket.Chat, an Brazilian open-source communication platform, raises $ 19 million

This round shows how privacy-first communication is a major trend in 2021, since the adoption of digital workspaces surged last year because of COVID-19 pandemic

Image: Rocket.Chat/Website
  • The startup intends to use this new round to focus on the company’s long-term vision of replacing email with a real-time communication platform;
  • The round brings Rocket.Chat to a $27 million in total funding to date.

Brazilian Rocket.Chat, an enterprise communication and collaboration platform, announced it raised $ 19 million in Series A funding led by Valor Capital Group and followed by Greycroft, Monashees, and NEA. The round brings Rocket.Chat to a $27 million in total funding to date.

This new round shows how privacy-first communication is a major trend in 2021, since the adoption of digital workspaces surged last year because of COVID-19 pandemic and raised the software users’ concerns about data privacy and security.

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“Companies want to know where their data is being stored and who has access to it. As a product-led company, our goal is to keep on building a flexible and transparent Enterprise open-source hub that gives back privacy and control to people and companies,” said Gabriel Engel, Rocket.Chat’s founder and CEO.

The startup intends to use this new round to focus on the company’s long-term vision of replacing email with a real-time communication platform.

Also, others priorities are vertical market expansion, investment in talent, education programs for the growing developer community, and building an ecosystem of global partners.

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Among the features previewed in 2021, users might find a new Security Bundle, Blockchain Federation, Marketplace Enterprise Apps, Smart Bots, Automation Workflows and Omnichannel Integrations for Social Media. 

According to Engel, since its seed round in 2016, Rocket.Chat grows its user base by 500% and its open-source community by 260%. “Our rapidly-growing base of enterprises is embracing Rocket.Chat, not only for enterprise messaging but as a building block to connect people and companies”, he said.

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