INSUBCONTINENT EXCLUSIVE:
A marketplace dominated by Slack and Microsoft Teams, along with a host of other smaller workplace communication apps, might seem to leave
little room for a new entrant, but Swit wants to prove that wrong
million seed round led by Korea Investment Partners, with participation from Hyundai Venture Investment Corporation and Mirae Asset Venture
The startup was launched last year by CEO Josh Lee and Max Lim, who previously co-founded auction.co.kr, a Korean e-commerce site acquired
saturated with great unicorns, but many companies need multiple collaboration apps and there is nothing that seamlessly combines them, so
Many employees rely on Slack or Microsoft Teams to chat with one another, on top of several project management apps, like Asana, Jira,
Monday and Confluence, and email to communicate with people at other companies (Lee points to a M.io report that found most businesses use
at least two messaging apps and four to seven collaboration tools).Lee says he used Slack for more than five years and during that time, his
cover all those needs in one app
It comes with integrated Kanban task management, calendars and Gantt charts, and at the end of this year about 20 to 30 bots and apps will
be available in its marketplace
The premium version will have full integration with Office365 and GSuite, allowing users to drag-and-drop emails into panels or convert them
into trackable tasks.While being a late-mover gives Swit certain advantages, it also means it must convince users to switch from their
current apps, which is always a challenge when it comes to attracting enterprise clients
After seeing a demo, he says 91% of potential users registered on Swit, with more than 75% continuing to use it every day
Many of them used Asana or Monday before, but switched to Swit because they wanted to more easily communicate with teammates while planning
Some are also gradually transitioning over from Slack to Swit for all their messaging (Swit recently released a Slack migration tool that
enables teams to move over channels, workspaces and attachments
advantages include being developed from the start for small businesses as well as large enterprises that still frequently rely on email to
communicate across different departments or locations
So if they are looking for data, they have to search app by app, channel by channel, product by product, so data and information is
