California-based enterprise SaaS startup Notion Labs has raised $10 million angel investment from a clutch of investors including Y Combinator’s former partner Daniel Gross, Elad Gil, Felicis Ventures’ Aydin Senkut, Sherpalo Ventures’ Ram Shriram, First Round Capital’s Josh Kopelman, and former Stripe employee Lashy Groom.
Notion Labs founding team includes Chris Prucha, Ivan Zhao, and Jessica Lam, who started up in 2016.
Former Linkedin India head Akshay Kothari joined the company in 2018 as the chief operating officer (COO). Akshay had previously started aggregator app Pulse News, which was acquired by Linkedin for $90 million in 2013.
Notion Labs is an all-in-one workspace for notes, tasks, wikis and database. The company claims to replace the need for multiple business management applications such as Slack, Asana and Evernote. According to a media report, the company is currently valued at $800 million.
It’s worth noting that between January 2014 and June 2018, Indian SaaS startups have raised $2.79 billion across 520 deals. Indian SaaS or enterprise software market currently accounts for 9% of all software sales. It is expected to cross $50 billion in the next 10 years, according to a report by Google and Accel Partners.
Earlier this week, Seattle and Pune-based SaaS startup Icertis has entered the unicorn club with a $115 Mn funding round led by US-based venture capital firm Greycroft and PremjiInvest, whereas Pune-based cloud data protection firm Druva has recently announced the acquisition of a hybrid cloud data protection and migration company CloudLanes, which enables seamless and secure movement of data from on-premises to cloud.