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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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Fabric, a leader in care delivery and consumer experience, has announced the acquisition of UCM Digital Health (UCM), a leading digital health and telehealth provider. The acquisition expands Fabric's services to about 400 new employer and payer customers, adding one million covered lives. Fabric now serves over 75 health systems, 30,000 employers, and over 100 million lives across all 50 states. This marks Fabric’s fifth acquisition in less than three years, underscoring its strategic build-and-buy approach to unify the fragmented digital health landscape. By expanding its footprint in the payer and employer markets, Fabric is extending its comprehensive care access and experience platform paired with its nationwide provider network to streamline virtual-first care, expand access, improve efficiency and outcomes, and reduce both medical and overhead costs.

In a statement Aniq Rahman, CEO and Founder of Fabric said, "For Fabric, it’s about making healthcare more accessible.” “We’ve already made meaningful progress in the payer and employer markets, and this acquisition allows us to deepen that impact. By bringing more payers and employers onto our platform, we’re creating a connected experience that streamlines workflows, reduces friction and costs, and ultimately drives better outcomes for members and our partners." Moving forward, the 400 payers and employers served by UCM will transition to Fabric’s expanded technology and clinical network, gaining access to enhanced omnichannel patient experiences that improve efficiency before, during, and after virtual care. Through Fabric’s nationwide provider network, patients can receive a treatment plan for most common medical conditions in just five minutes or connect with a behavioral health provider within three days.

Fabric is a health tech company on a mission to solve healthcare’s access problem. Fabric’s integrated care platform offers personalized guidance, streamlines workflows, and unifies experiences across virtual and in-person care. Its solutions support care delivery from a patient’s first search to post-treatment follow-up using its proprietary Hybrid AI that combines conversational AI and physician-built clinical logic. Together with a nationwide network of medical and behavioral health providers, Fabric is realizing its vision of providing care for everyone, everywhere. The company advances connected delivery that improves access, outcomes, and equity across every stage of the patient journey. Today, Fabric serves 30,000 employers, payers, and enterprise organizations, including OSF HealthCare, MUSC Health, Highmark, and Intermountain Health. Fabric is backed by General Catalyst, Thrive Capital, GV (Google Ventures), Salesforce Ventures, Vast Ventures, BoxGroup, and Atento Capital.
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Flex has closed a $60 million Series B equity round led by Portage, bringing total equity raised to $105 million. In the last year, the company has quadrupled revenue and tripled its payments volume to $3 billion as it scales its all-in-one business and personal finance platform for high-net-worth middle-market business owners. Running a profitable middle-market business has become one of the most complex financial jobs in America, with owners often juggling more than ten disconnected systems to manage their money. Flex was created to give these high net worth owners a single place to run both their business and personal finances. This latest $60 Million equity round, followed by its $200 Million debt and $25 Million equity raise announced earlier this year, builds on a period of rapid hypergrowth. In just 12 months, Flex has grown revenue fourfold and increased annualized total payments volume from $1 billion to $3 billion across a suite of products, positioning Flex as one of the fastest-growing fintech companies at scale with best-in-class capital efficiency.

Flex is building the category-defining company solving this gap for high net worth business owners with a five-pillar strategy built around private credit, a business finance stack, a personal finance stack, payment solutions, and an ERP built for middle market businesses. These customers now use an average of four or more Flex products. Flex’s Business Credit Card, which provides 60-day float on every transaction, has been a major driver of adoption, acting as the wedge into deeper financial operations. Once owners experience the benefits of the Flex Credit Card, they often go on to adopt Flex’s banking, payments, working capital, and expense management tools to replace fragmented legacy systems. This integrated model has allowed Flex to scale with high efficiency and has created a strong foundation for its expansion into personal finance.

Launched in 2023, Flex a Flexbase Technologies brand is the AI Native “Private Bank” for high net worth business owners in the middle market. Flex is building the category-defining company solving this gap for high net worth business owners with a five-pillar strategy built around private credit, a business finance stack, a personal finance stack, payment solutions, and an ERP built for middle market businesses. Flex is the first platform that supports every step of their financial lives, from the moment they earn revenue to the moment they spend it personally.
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Across the United States, a new industrial age is taking shape. Trillions of dollars in infrastructure, from energy projects and advanced manufacturing to data centers and critical mineral facilities, must be built in the next decade. But large construction projects are slower and more expensive today than they were half a century ago. Unlimited Industries, a California-based company using AI to rethink how infrastructure gets built, has raised $12 million in seed funding to change that. The round was co-led by Andreessen Horowitz and CIV, with participation from leading industry investors. The capital will accelerate Unlimited’s expansion and further develop its proprietary AI platform – one designed to make large-scale engineering and construction faster, cheaper, and more ambitious.

Unlike traditional construction firms or standard software companies, Unlimited is an AI-native construction company that both designs and builds. Its proprietary platform can generate and evaluate hundreds of thousands of design configurations in parallel, automatically identifying optimal layouts for cost, safety, and performance before construction begins. By integrating AI-driven design with its own vertically integrated engineering and construction teams, Unlimited eliminates the costly handoffs and misaligned incentives that have defined the industry for decades.

In a statement Alex Modon, Co-Founder and CEO of Unlimited Industries said, “Advances in AI mean we can finally build the physical world the way we build software.” “The traditional construction model is slow, brittle, and fundamentally misaligned. Our approach replaces static design choices with a dynamic, data-driven process that learns from every project. The result is faster, cheaper, and more successful projects.”

Unlimited is an AI-native construction company headquartered in San Francisco. Today, the company designs and builds across energy infrastructure, data centers, critical minerals, and advanced manufacturing, helping developers build with greater speed, ambition, and efficiency. Their mission is to build a future of radical physical abundance by automating construction end-to-end. The company was founded in 2025 by serial founders Alex Modon, Jordan Stern, and Tara Viswanathan.
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