Total amount raised
$46.2 Millions
Latest funding date
Location
Element has successfully raised significant funding over multiple rounds, establishing itself as a key player in secure collaboration and messaging. The platform offers a sovereign and secure communications solution, built by the creators of Matrix, with features like data control and trusted real-time communication.
Keep reading to explore the intricacies of Element's fundraising journey and the investors backing this innovative platform.
What Is Element?
Element, founded in 2016, operates in the secure collaboration and messaging industry. The platform is designed to offer secure, compliant, and flexible communication solutions, emphasizing data sovereignty and trusted real-time communication.
Built by the creators of Matrix, Element provides products like the Element App and Element Server Suite. The company supports both self-hosted and fully managed deployments, catering to a wide range of sectors and use cases.
How Much Funding Has Element Raised?
- Seed Round
- Amount Raised: $3.1M
- Date: July 2018
- Lead Investors: Status.im
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of Element's secure communication platform.
- Series A
- Amount Raised: $8.5M
- Date: September 2019
- Lead Investors: Dawn Capital, Firstminute Capital, Notion Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and increase market reach.
- Corporate Round
- Amount Raised: $4.6M
- Date: April 2020
- Lead Investors: Automattic
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform's infrastructure and support growth.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: December 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand its user base.
- Series B
- Amount Raised: $30M
- Date: July 2021
- Lead Investors: Protocol Labs, Metaplanet, Automattic, Notion
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand technology for large organizations, invest in peer-to-peer architecture, and build decentralized voice and videoconferencing services.
Total Amount Raised: $46.2M
Current Valuation: Not publicly disclosed
Key Investors
- Protocol Labs
- Details: Protocol Labs is an open-source research, development, and deployment lab known for creating libp2p, IPFS, and Filecoin. They are leaders in the decentralization movement and have been involved with Matrix since its early days.
- Investment Focus Areas: Decentralized storage, communication technologies, foundational layers for the decentralized web.
- Notable Investments: IPFS, Filecoin, libp2p.
- Metaplanet
- Details: Metaplanet is an investment fund established by Jaan Tallinn, co-founder of Skype. The fund focuses on novel and evidence-based innovation with a long-term impact.
- Investment Focus Areas: Disruptive long-term innovations, technologies that democratize communication, enhance privacy.
- Notable Investments: Skype, DeepMind, various disruptive technology startups.
- Automattic
- Details: Automattic is the parent company of WordPress.com, known for its contributions to open-source projects. They are a returning investor in Element.
- Investment Focus Areas: Web development, content management systems, tools that enhance online communication and collaboration.
- Notable Investments: WordPress.com, WooCommerce, Tumblr.
- Notion
- Details: Notion is a venture capital firm that invests in early-stage technology companies. They are also a returning investor in Element.
- Investment Focus Areas: Early-stage technology companies, productivity tools, software development.
- Notable Investments: Miro, Figma, various high-growth startups.
What's Next for Element?
Element stands at the cusp of significant growth, driven by its expanding role in secure, decentralized communication. With contracts from major governments and organizations, the platform is poised to enhance its technology, particularly in peer-to-peer architecture and decentralized voice and videoconferencing services. The increasing adoption of the Matrix protocol, with over 35 million addressable users, underscores the vast opportunity ahead.
Future fundraising appears promising as Element continues to attract interest from venture capitalists and strategic investors. The platform's focus on privacy and security aligns with industry trends, making it a compelling choice for further investment. However, challenges such as competition from established players like Slack and Microsoft Teams, and the need to balance rapid growth with maintaining high standards of security, remain.
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