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AI-Powered Productivity Startup Hoop Announces $5M in Seed Funding Led by Index Ventures

AI-Powered Productivity Startup Hoop Announces $5M in Seed Funding Led by Index Ventures

June 5, 2024 Craig Etkin

Founded by Early Trello Team, Hoop’s To-Do List Updates Itself by Auto-Capturing Tasks Across Platforms

June 05, 2024 06:30 AM Pacific Daylight Time

NEW YORK–(BUSINESS WIRE)–Hoop, the to-do list that updates itself, today announced $5 million in seed funding, led by Index Ventures, with participation from Origin Ventures, Divergent Capital, and Chingona Ventures. The team, who met as early employees at Trello, will use the capital to deepen Hoop’s AI capabilities, expand its platform integrations, and develop collaborative features; Hoop is currently available to individuals but will soon launch a version for teams.

“We couldn’t be more excited to partner with Hoop on this journey, and we are already experiencing the benefits from using Hoop’s technology ourselves.”

Hoop was the brainchild of three former Trello executives — Garber, Brian Schmidt, and Justin Gallagher. Trello was one of the most successful project management tools in history, and Hoop’s founding team members were early pioneers in remote work, developing practices that lived on when Atlassian acquired Trello in 2017. They started Hoop in 2022 with a vision for a more sustainable way of working, one that was free from the distractions that plague digital work. By automatically aggregating tasks from platforms like Google Meet, Slack, Zoom, and email into one place, Hoop’s auto-capturing AI creates a to-do list that updates itself. And in contrast to the surge of AI platforms that join meetings to offer seas of transcriptions, Hoop recognizes and helps prioritize tasks, so attendees can stay present and responsive rather than jotting down action items.

“Teams increasingly work across multiple — sometimes dozens — of tools. While these technologies foster remote work, they’ve also contributed to a feeling that work is everywhere and anywhere. Keeping track of all it only creates more work, not to mention that nagging feeling that you missed something,” said Stella Garber, co-founder of Hoop. “We built Hoop to make it easier to get work done, giving people the confidence that they can go about their workday knowing the important stuff is being tracked, without having to play notification whack-a-mole across all their tools.”

“As companies battle to do more with less, workers are clearly more stressed and exhausted than ever,” said Neil Rimer, co-founder of Index Ventures who led the investment. “We couldn’t be more excited to partner with Hoop on this journey, and we are already experiencing the benefits from using Hoop’s technology ourselves.”

The Hoop team prioritized a diverse cap table for its seed round, reflecting their belief that products should mirror the societies they serve. More than half of the company’s investors are women, people of color, or both. Investors include every member of the early Trello leadership team; Wade Foster, CEO of Zapier; Job van der Voort, CEO of Remote; and Andy Dunn, former CEO of Bonobos; Annie Duke, the first woman to win the World Series of Poker; Maria Katris, CEO/Co-founder of BuiltIn; Maggie Adhami-Boynton, CEO/Co-founder of ShopThing; Jay Simons, former President of Atlassian; and Sean Harper, CEO/Co-founder of Kin.

To sign up and learn more, visit hoop.app.

ABOUT HOOP

Hoop is an AI-powered task management platform for busy professionals. Founded by former Trello executives, Hoop is the first to-do list to update itself by auto-capturing tasks from tools workers already use such as Slack, Zoom, Google Meet, and email. Hoop enables users to stay present and focused in fast-paced digital workplaces filled with interruptions. For more information, visit hoop.app.

Contacts

Media
Megan Stinson, megan@cmand.co

(c)2024 Business Wire, Inc., All rights reserved.


Venture Capital
Business Wire, Hoop, New York, New York City, Venture Capital

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Joby Aviation, a company developing electric air taxis for commercial passenger service, announced the successful closing of the first $250 million tranche of a previously announced strategic investment from Toyota Motor Corporation. The funding marks a significant milestone in strengthening the long-term collaboration between the two companies and supports their shared vision for the future of air mobility. The investment is aimed at supporting certification and commercial production of Joby’s electric air taxi. This underscores the mutual commitment to deepening integration and delivering next generation travel to global markets. This investment also puts the two companies a step closer toward a strategic manufacturing alliance.

In a statement JoeBen Bevirt, founder and CEO of Joby said, “We’re already seeing the benefit of working with Toyota in streamlining manufacturing processes and optimizing design.” “This is an important next step in our alliance with Toyota to scale the promise of electric flight. With this capital and Toyota’s legendary production expertise, we’re enhancing our ability to scale cutting-edge design and manufacturing to meet the demands of our partners and customers.”

Joby Aviation is a California-based transportation company developing an all-electric, vertical take-off and landing air taxi which it intends to operate as part of a fast, quiet, and convenient service in cities around the world. Powered by six electric motors, their aircraft takes off and lands vertically, giving it the flexibility to serve almost any community. Flying with Joby might feel more like getting into an SUV than boarding a plane. The company's aerial ridesharing service will combine the ease of conventional ridesharing with the power of flight. A green alternative to driving that's bookable at the touch of an app. With more than 30,000 miles flown on full-scale prototype aircraft, their aircraft is designed to meet the uncompromising safety standards set by the FAA and other global aviation regulators. Joby Aviation is now engaged in a multi-year testing program with the FAA to certify their vehicle for commercial operations, and have completed the first three of five stages.
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Infinite Reality, an innovation company powering the next generation of immersive media, AI, and ecommerce, today announced a landmark real estate partnership with renowned real estate investment, development and management firm Sterling Bay to co-develop a 60-acre site in Fort Lauderdale into a next-generation technology and entertainment campus. This ambitious redevelopment—expected to open in 2026—will serve as Infinite Reality’s new global headquarters and is the cornerstone of iR’s long-term real estate strategy, which begins with this flagship project in South Florida. The public-private project marks one of the largest creative economy investments in the area to date, aiming to generate more than 1,000 new jobs with an average salary of six figures and deliver long-term economic growth to the region. Located at 1400 NW 31st Avenue on the site of a remediated former Superfund property, the development features over 100,000 square feet of Class A office space for media, tech, and enterprise clients. Construction is expected to begin in early 2026, pending completion of permitting and design phases.

In a statement John Acunto, co-founder and CEO of Infinite Reality said, “This isn’t just a headquarters—it’s the heart of Infinite Reality’s future. As a proud South Florida resident, this project is deeply personal to me.” “It’s about transforming a community I love into a global hub for immersive technology and creativity. We’re building opportunity, fueling innovation, and laying the foundation for a lasting legacy. Partnering with a world-class development firm like Sterling Bay ensures that this vision is realized at the highest level—and that Fort Lauderdale becomes a defining force in the future of the digital economy.”

In addition to serving as a corporate campus, the site will include flexible spaces for retail, production, digital broadcasting, and entertainment ventures. The development also includes educational initiatives in partnership with local institutions to train and hire future talent in STEM, immersive tech, and creative production. Infinite Reality is an innovation company powering the next generation of digital media and ecommerce through spatial computing, artificial intelligence, and other immersive technologies. Infinite Reality’s suite of cutting-edge software, production, marketing services, and other capabilities empower brands and creators to craft inventive digital experiences that uplevel audience engagement, data ownership, monetization, and brand health metrics.
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Kimberly-Clark Corporation, one of the world's leading manufacturers of personal care and hygiene products, will establish an $800 million advanced manufacturing facility in Trumbull County, bringing an anticipated 491 new high-quality jobs. For Kimberly-Clark, this new facility would be its first in Ohio and represents not just a strategic expansion, but a decisive step in doubling down on growth in the American market. Spread across more than one million square feet, the Warren facility will provide the manufacturing capacity needed to unleash future growth for Kimberly-Clark’s fastest-growing personal care categories that include Baby & Child Care and Adult & Feminine Care. Warren is in geographic proximity to roughly 117 million consumers and will serve as a strategic hub for the Northeast and Midwest regions. Construction is expected to begin this month and will take up to two years.

In a statement Tamera Fenske, chief supply chain officer at Kimberly-Clark said, “Our investment in Warren is a pivotal step forward in our North America business and strategy.” “By establishing a new, state-of-the-art manufacturing facility in Ohio, we’re enhancing our ability to serve millions of consumers across the Midwest and Northeast with greater speed, agility, and resilience. It’s a once-in-a-career opportunity to build a facility from the ground up that reflects the future of manufacturing, and with the support of local partners like JobsOhio, the Department of Development, Lake to River, Western Reserve Port Authority, and local governments, we have the unique opportunity to create high-quality jobs and long-term economic impact in the region.”

Based in Dallas and employing 46,000 people in 34 countries, the company’s portfolio of brands also includes Huggies, Kleenex, Scott, Kotex, Cottonelle, Poise, Depend, Andrex, Pull-Ups, GoodNites, Intimus, Plenitud, Sweety, Softex, Viva and WypAll. Its products are sold in more than 175 countries and territories.
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