Smart calendar startup Reclaim.ai was acquired by file sharing company Dropbox (Nasdaq: DBX).
Terms of the deal were not disclosed, but in a blog post Reclaim’s founders said the entire team, including the co-founders, is joining Dropbox. The startup had 23 employees earlier this year.
Reclaim’s co-founders Patrick Lightbody and Henry Shapiro both worked at software maker New Relic before starting Reclaim in 2020.
The startup launched as a smart calendar app and found early traction as workers and employers navigated remote work realities that emerged during the Covid-19 pandemic.
But, as Lightbody told the Business Journal previously, Reclaim sees itself as more than an AI-powered calendar tool. It launched a smart meetings tool earlier this year.
“We are not just a scheduler or calendar assistant. We want to be the brain of the enterprise and connect the dots on how executives think about the future for the next five to 10 years of the business,” he said in May. “That all needs to percolate down. Every job of leadership is taking those goals to martial actions so people can all move in that direction.”
That vision can happen under the Dropbox banner, said Lightbody and Shapiro in a blog post announcing the deal. Reclaim will continue to work toward its existing product roadmap. Customers will continue to have access to the product at the current pricing. They noted that the Dropbox and Reclaim products and pricing are separate at this time.
“We're tremendously proud of our team for the relentless work and care they’ve put in to build Reclaim into the product that it is,” Lightbody and Shapiro wrote. “In the beginning, Reclaim was just the seed of an idea with a few dozen beta testers. Today, Reclaim is deployed across over 43,000 companies and used by more than 320,000 people across the globe.”
To date, Reclaim has raised $13.3 million from investors. Backers include Flying Fish, Index Ventures, Gradient Ventures, Operator, Calendly, and various angels. The company had been planning to raise a Series A this year after pausing fundraising last year amid a tightening investing landscape.
Earlier this month Dropbox reported second quarter revenue of $634.5 million and profit of $110.5 million, or 34 cents per share.
