STARTUP PROFILE

Worktile

Updated: 08/2018

Worktile

China / Beijing , China

Website

Series B 08/2018

Pitch

This all-in-one collaborative tool makes it easy to delegate tasks, prioritize to-do lists, work together on projects and communicate among team members.

Why

One-stop collaborative office wanted

There is currently no single software or platform that can meet all corporate teamwork needs.

Poor teamwork

Long-distance collaboration, delayed project updates and complex work procedures lead to teamwork inefficiency.

Market

$9.6 billion

The estimated worth of the collaboration software market in 2021.

Product

Worktile offers four types of collaboration software – a basic version, a professional version, an enterprise version and a flagship version – which have varied functions. The software is comprised of four modules: project management, customer relationship management, HR and office automation.

Business Model

The basic version is only for companies with less than ten employees. Worktile charges different amounts for the premium versions: the professional version costs RMB 299 per person per year, the enterprise version costs RMB 499 per person per year and the flagship version costs RMB 699 per person per year.

Worktile actively communicates with clients and potential users through the user community and official blog on its website.

The R&D team iterates the software once every two weeks.

The startup also provides an open platform for companies to create their own applications based on the Worktile software.

Founders

Wang Tao

Founder and CEO

Li Huijun

Co-founder and CTO

Investors

China Broadband Capital

China

Eight Roads Ventures China

China

Cloud Angel Fund

China

Journey

All
Products and Services
Fundings
Expansion
The Launch

LAUNCH 2012

2012

LAUNCH

2012 - Founding of Worktile.

The Launch

November, Worktile founded in Beijing.

GROWTH 2013

2013

GROWTH

2013 - 2015 - Free version launched; seed and Series A funding rounds; launched mobile app.

Products and Services
November 2013, launched first team collaboration software online.
- The software was free to download and use.
January 2014, launched Worktile app, which was free to download and use.
July 2015, launched standalone software Lesschat, a Slack-like instant messaging tool for team communication and collaboration.
- The company realized the majority of Lesschat users were Worktile users, so the service was integrated into Worktile three months later.
Fundings

October 2013, secured millions of RMB in seed funding from Cloud Angel Fund.
November 2014, secured tens of millions of RMB in Series A funding from China Broadband Capital.

GROWTH 2016

2016

GROWTH

2016 - 2018 - Premium enterprise version launched; year-on-year revenue growth of 600%; Series A+ and B funding rounds.

Products and Services
January 2016, launched first premium version of the software.
- In addition to the functions offered by the basic version (task delegation, scheduling, document sharing, etc.), the premium version enabled users to communicate with team members, edit newsletters, manage address lists, etc.
August 2018, released Worktile v7.0.
- The latest version of Worktile is a highly configurable platform that enables users to customize more features, including procedural requirements, interfaces, statistical requirements, etc.
Expansion

March 2016, more than 220,000 companies using the free version of Worktile.
May 2017, Worktile first started earning a profit.
September 2017, the number of paid corporate users reached nearly 3,000, including clients such as China Mobile, Decathlon, Mercedes-Benz and Tianhong Asset Management.
December 2017, yearly revenue increased by 600% over 2016.
Fundings

February 2018, secured undisclosed amount in Series A+ funding from China Broadband Capital.
August 2018, secured RMB 50 million in Series B funding round led by Eight Roads Ventures China and followed by China Broadband Capital.

TODAY

Today

Worktile employs nearly 150 people. It has opened six subsidiaries or offices in Beijing, Shanghai, Shenzhen, Hangzhou, Xi’an and Taipei.

The startup currently has more than 200,000 clients (over 3,000 of which are paid corporate users), and its monthly revenue is around RMB 3 million.

FUTURE

Future

Shift target clients from small companies to medium and large companies.

Become a PaaS provider by offering a platform that allows users to develop, run and manage their own applications.

FEEDBACK / COMMUNITY CONTRIBUTIONS

We pride ourselves on the accuracy of our information and reporting. Please help us by letting us know of any incomplete or inaccurate information on our website.

RELATED INSIGHTS

Bright Ideas

Worktile sells an easier, more efficient approach to teamwork

RECOMMENDED

FEEDBACK / COMMUNITY CONTRIBUTIONS

We pride ourselves on the accuracy of our information and reporting. Please help us by letting us know of any incomplete or inaccurate information on our website.

FEEDBACK NOW

RELATED INSIGHTS

Bright Ideas

Worktile sells an easier, more efficient approach to teamwork

Employees no longer have to switch between different apps to complete projects, thanks to this collaborative SaaS for enterprises

Co-working | Cloud