Market Overview

Swit, a BTS in Team Collaboration, Raises $5M from BTS investor

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SAN FRANCISCO, Oct. 27, 2020 /PRNewswire/ -- Swit Technologies Inc, a San Francisco-based remote work tech solution company, announced today it has raised $5 million in additional funding from SV Investment, the first investor of BigHit Entertainment, the maker of BTS. This adds to the $7 million the company acquired for its seed round.

Swit, a BTS in Team Collaboration, Raises $5M from BTS investor

Swit (swit.io) is the world's first collaboration tool that combines team chat and task management in one to streamline different, yet critical workflows each team uniquely holds while maintaining the context. It facilitates a seamless collaboration of interdepartmental teams, claiming to be the "collaboration essential" offering not only teams but also an entire company the simplest way to work together. Swit thrives to help companies achieve their Digital Transformation.

Founder and CEO of Swit, Josh Lee, commented, "It is said, technology is most powerful when everyone can use it. But agile tech methodology for software engineers is not agile for other functional roles like sales reps or digital marketers. That's why Swit provides a one-for-all to coordinate cross-functional collaboration with its intuitive, easy-to-use design and all-in-one functionality for chat and tasks, the two must-have functions for an entire company. As the coronavirus pandemic has dramatically changed the way we work, organizations may be able to separate teams but not tools. People are looking for a unified hub for Chat & Tasks to unite their distributed teams and bring them a sense of remote belonging. It's more than a matter of productivity. Within one and a half years since its launch in March 2019, Swit already has over 20,000 companies using the service successfully helping them get 2.3 million things done in 161 countries."

Before Swit, Lee used to be a heavy user of Slack integrating multiple apps in it like Trello and Asana. Frustrated with how these integrations just receive text-based notifications in selected channels, doubling the number of notifications and distractions without getting anything done, Lee decided to create something that many working professionals today would resonate with--one convenient place to turn your conversations into trackable tasks and share your tasks to chat channels simply by drag and drops. In this way, you can move across different workflows while maintaining the context and data.

Another area Slack fell short of was that it was designed and built for small-sized, single teams. It simply lacked the infrastructure to provide larger organizations with team-to-team communication, multiple team collaboration, or super admin management beyond a single workspace. (Slack Connect, a feature released in June 2020 to help overcome its inherent limitations in team-to-team communication, is yet to offer an architectural foundation--currently illustrated through a rather elementary technique of message mirroring.) That said, Swit is the one and only collaboration tool today that provides cross-workspace communication for larger organizations from its architectural basis alongside its task management functions like those of Trello. (FMI https://medium.com/taste-of-teamwork/teamscollaboration-afc9cf3cb11d )

In February 2020, Swit was selected as the winner of the "Growth Startup of the Year" at Startup Grind Global Conference 2020, the world's biggest independent startup community with over 600 chapters all across the globe. And in September 2020, Swit was selected as one of the most promising remote tech solutions by CIO Review along with collaboration unicorns like Slack and Asana.

Mr. Mingoo Kang, the investor of SV Investment notes, "Swit is highly expected to be the BTS in collaboration SaaS, for the service has delicate, all-in-one design from the user-forward perspective and the right tech stacks required to extend to an enterprise platform, such as an open APIs-based developer platform, a 3rd party apps integration marketplace, or no code component-builder for integrated apps."

To find more about Swit, visit https://swit.io.

About Swit

Based in the San Francisco Bay Area, Swit is the complete team collaboration app. Venture backed, Swit is being used by businesses of all sizes across the United States and Internationally. For more information, please visit https://swit.io.

Related Links
https://swit.io

Contact:
Jina Kim
(857) 383-8008
jina@swit.io

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SOURCE Swit Technologies Inc.

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