Raycast funding news – London-based Raycast Secures €27 Million in Series B Round Funding

Along with participation from Accel, Coatue, Y Combinator, Atlassian Ventures, World Innovation Lab, and famous angels Guillermo Rauch (CEO of Vercel), Thomas Dohmke (CEO of GitHub), and Tobi Lütke (CEO of Shopify), the round was led by European investor Atomico. Luca Eisenstecken, an Atomico Partner, will join Raycast's board as part of this round.

The development of software tools, which are supposed to boost productivity and simplify lives, is really making work more complicated and fragmented as the Information Age changes how people live and work. Knowledge workers increasingly frequently switch between workflows and tools, which causes mental fatigue and a large loss of productivity.

The "cost" of a context transfer is approximately two seconds, according to a 2022 Harvard Business Review (HBR) research of mid- and back-office employees at Fortune 500 businesses. The average user switches between various apps and websites approximately 1,200 times a day. This "toggle tax" added up to five working weeks or 9% of yearly time over the course of a year. Lost time impairs production and makes it difficult to maintain attention.

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In order to counteract this digital fragmentation and assist people in achieving "Flow," Raycast was founded. The core idea of Raycast is to assist knowledge workers in reaching optimal productivity. As the ultimate shortcut to everything, its platform lets users engage with several apps without completely changing contexts, allowing them to stay in a creative flow state. Users may maximize the functionality of apps like GitHub, Zoom, and Notion without losing sight of their ideas by using one of the more than 1500 open-source extensions available.

Thomas Paul Mann, CEO and co-founder of Raycast, said: “Our mission in founding Raycast was to redefine how people interact with their computers. We believe that achieving a state of ‘flow’ is key to productivity and job satisfaction. Raycast isn’t just about saving time – it’s about never wasting it. By allowing users to perform actions like sending Slack messages, checking notifications, or anything else without even opening the app, we’re helping people stay focused and in control of their digital environment.”

Luca Eisenstecken, Partner at Atomico, added: “Thomas and Petr have built an incredible product that solves a crucial problem not only beautifully, but also effectively with a thriving open-source community of developers at its heart. Raycast provides users with virtually limitless opportunities to build a highly personalised productivity platform tailored to their unique workflows. I personally find it indispensable for my daily work. This is further underscored by the remarkable results of our in-depth user research during due diligence, where a staggering 98% of respondents reported a significant increase in their Raycast usage over the past six months.”

The Raycast platform boasts extensive capability, repeating commands, and an exceptionally user-friendly interface. Its entirely configurable interface adds to its ease of use. It smoothly interacts with popular programs like YouTube, ChatGPT, Google Translate, Linear, Jira, and Spotify, in addition to other third-party extensions. The 22,000 developers that make up Raycast's community are responsible for many of these integrations.

Its AI-enhanced tool, Raycast Pro, further improves the flow state by minimizing the need to context switch even for AI interactions. It functions as a single AI that will communicate with all of a user's tools in natural language and enable them to generate and reuse their own AI prompts.

The money is being used to support Raycast's cross-platform ambition, which will involve hiring several important Europeans for positions in engineering, product, and user experience on these platforms, starting with Windows and iOS product development and redefining productivity with AI.

About Raycast

As the preferred tool for software engineers, product developers, and designers, Raycast has amassed a developer community of 22,000 members that use and contribute to the technology. Raycast has hundreds of thousands of daily active users for its Mac capabilities. Today, the firm announces that, in response to strong demand, they will be releasing soon-to-be iOS and Windows versions. Interested customers can register here.