Tech startup Archbee today announced that it has raised $ 1 million in capital from Inovo Venture Partners and YCombinator in the first major round of funding for the fast-growing company.
Archbee was founded in 2019 and describes itself as a “documentation specialist”. It offers a range of bespoke tools for software developers that enable everyone in the company to organize critical information and information into a single hub for the benefit of colleagues and customers, both now and in the future.
“We talk about the knowledge that defines your company,” says Dragos Bulugean, Founder and CEO of Archbee. “Archbee is supposed to be the one-stop-shop for the documentation needs of software companies.”
Bulugean started the company after several years of consulting positions with leading software developers, where he and his colleagues were often frustrated because of the lack of easy access to important information. For example, employees would be missing important facts when they bring new team members on board. Sales reps don’t know where to find key feature information when demonstrating products to customers. Customer service teams would have difficulty answering product inquiries.
“Companies are in a rush to develop products, get them to market faster, and be the first to hit the market,” adds Bulugean. “An important part of creating a product is its catalog or index – essentially the manual. It is this often neglected task that Archbee makes easier. It’s not just a product guide, it’s a centralized knowledge base and the true knowledge base that affects the commercial metrics – it helps improve onboarding time for customers, reduce the number of support tickets, and what else it is more important to make the products understandable for the user. We focus on helping any software development company create collaborative spaces that are accessible and easy to use for everyone. “
In practice, companies already have a number of documentation services available, including services like Google Docs. But Bulugean’s premise in introducing Archbee was that given the specialty of the information they created and managed, software developers needed something bespoke – everything from software design schemas to API mapping.
This instinct seems to have resonated with customers. From less than two years ago, Archbee has gained around 140 customers and increased sales by 20% from month to month. The early adopters were more of a young and smaller company – well-known customers are ChartHop and Epsagon – but the company is increasingly targeting larger companies as well.
Bulugean believes it is critical that organizations focus on “asynchronous information” – information that is not communicated in real time during face-to-face interactions. Much of the value of companies like software developers resides in their intellectual property – this is their “secret” – but the information detailing those assets is often poorly maintained and organized.
Maciej Malysz, a partner at Inovo Venture Partners, one of Archbee’s investors, says this idea is at the heart of the company’s value proposition. “Archbee is a long-awaited platform that will move developers from synchronous to asynchronous work so that they can spend more time deep work and solve more sophisticated problems that require full attention.”
The funding will allow Archbee to invest in outward-facing sales and marketing for the first time, with the company operating largely as a one-man band until recently. However, Bulugean believes that the secret of success in this market lies in constant product development and not in prioritizing marketing. “Product lead sales can work when you have the right product,” he points out.
The company’s software-as-a-service model, which offers good transparency and consistent results, is in the company’s favor. Archbee customers pay a monthly fee based on the number of user licenses they need, although Bulugean says the pricing strategy is still in development. “We’re experimenting,” he says.