Venture Capital

Clockwise Clocks In With $45 Million Series C

SAN FRANCISCO — Clockwise, developer of a Time Orchestration platform that helps teams free up their workdays, has raised a $45 million Series C funding round led by Coatue, with participation from Atlassian Ventures and existing investors Accel, Greylock Partners, and Bain Capital Ventures. This round brings the company’s total funding raised to $76 million to date.

Since launching in 2018, Clockwise has rescheduled 4,000,000 flexible meetings and created more than 2,000,000 hours of uninterrupted Focus Time for teams. Today, more than 10,000 organizations run on Clockwise, including Netflix, Twitter, Atlassian and Asana.

The shift to remote and hybrid work has upended the way people spend their time. Clockwise data shows that time in 1:1 meetings has increased 24% since the pandemic, and 78% of people feel that their meeting schedule is out of control. Workers are spending their limited free time preparing for the next meeting and using meetings to do the work they don’t have time for. They’re disconnected from their teams, behind on their work, and increasingly burned out.

Clockwise is the solution to the modern workday. The company’s mission is to help people make time for what matters. Clockwise optimizes your team’s schedules to create more time in everyone’s day — so we can feel present when we’re working together and focused when we’re working on our own. More than 70% of Clockwise users say that it helps with their productivity in a remote or hybrid work environment, and 84% of people managers say that it helps them use their time more efficiently.

“Time has become a shared resource. Our calendars connect us to everyone we meet with—and everyone they meet with. That means one person’s attempts to optimize their day can completely destroy their teammate’s productivity,” said Matt Martin, Co-Founder and CEO of Clockwise. “The magic of Clockwise is that we orchestrate companies’ workdays, running up to 1 million calendar permutations for per team to create the best possible schedule for everyone.”

“The shift to remote work has created significant challenges for businesses and employees alike.” said Lucas Swisher, a General Partner at Coatue. “We’re incredibly excited to partner with Clockwise to help people adopt this new way of working and build on the company’s momentum.”

Clockwise plans to use the investment to advance its AI technology and bring this new way of working to more people worldwide. The company is also growing its team to support this mission, with more than 25 open positions and another 100 openings planned in 2022. Placing a strong emphasis on its mission and values, Clockwise has created a culture where 98% of employees say it’s a great place to work.

“We need to rework the workday around people and their needs,” said Gary Lerhaupt, Co-Founder and CTO of Clockwise. “Together, we’re enabling a new way of working that genuinely respects people’s time and creates a healthy, sustainable future of work.”