A16z, Collisons, and other investors have invested $13 million in the Northern Irish-founded LinkedIn rival. Polywork is an online business network that raised $13M in a Series A sponsored by Andreessen Horowitz for its private beta edition. Polywork places an emphasis on the value of the work itself rather than job titles. Polywork Series Andreessen Horowitzkennedy Siliconrepublic.
During its private beta phase, Andreessen Horowitz invested $13 million in the business-focused social network Polywork as part of a Series A round of funding. Polywork 13m Series Andreessen Siliconrepublic.
Peter Johnston, a Carrickfergus native and the creator of the business-focused social network Polywork, closed a $13 million Series A financing sponsored by Andreessen Horowitz (A16z).
Nat Friedman, CEO of GitHub, Mike Krieger, co-founder of Instagram, Alexis Ohanian, creator of Reddit, Ryan Hoover, creator of Product Hunt, and John and Patrick Collison, creators of Stripe were a few of the notable investors who joined A16z. In addition to returning investors, Bungalow Capital, 20VC, Goldcrest Capital, and Caffeinated Capital were present. A Series A round of fundraising for Peter Johnston’s company Polywork has ended, and some of the greatest names in Silicon Valley indicated interest. Polywork 13m Andreessen Horowitzkennedy Siliconrepublic.
The founding staff of the new company Polywork, which was established in 2020, is one of its intriguing aspects. Johnston co-founded Polywork and released Kalo (formerly known as Lystable) in 2015. He is a former Google employee. The start-up not only completed Techstars in the UK, but it also obtained money from Valar Ventures and a variety of customers, including Google, Airbnb, The Economist, and many more. Johnston made the decision to shut down Kalo because it was struggling as a result of the outbreak and wanted to stop future losses.
Polywork held a $3.5 million seed round in May of this year as it was only entering beta. Johnston has made it clear that he intends to compete with the top professional networking site LinkedIn, which is owned by Microsoft and has been compared to a mashup of LinkedIn and Twitter by both observers and early adopters. Polywork 13m Series Andreessen Horowitzkennedy.
According to the founder of Sifted, LinkedIn’s goals were allegedly reframed during his investment pitch. According to the study, people frequently mistakenly believe that your job title and where you attended school are the best representations of who you are and what is most important to you, but these are actually pretty poor substitutes for what you genuinely care about and who you are. Polywork Andreessen Horowitzkennedy Siliconrepublic.
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Johnston frequently expresses in interviews and blog posts that he believes people are “more than what society has put on them, such as their job title,” and that he hopes Polywork can help bring these two facets of their lives together in a way that other social networks can’t. Users are provided with a feed that is similar to Twitter where they may publish updates on their most recent projects. They are also given the option to add tags or badges to their profiles so that others can see what they are good at and what interests them. Additionally, posts can be labelled, allowing you to filter a person’s newsfeed by a particular field of expertise or interest. After receiving funding from A16z, Polywork’s Sriram Krishnan will join the board of directors.
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