Insider Brief
- Rhythms, an AI-powered enterprise productivity startup, has announced a $26 million seed funding round co-led by Greenoaks and Madrona, with participation from Accel, Cercano, and Founders’ Co-op.
- The company is developing an AI-powered Operating System to enhance organizational productivity and performance, integrating with existing tools and workflows.
- The funding will be used to expand Rhythms’ teams in the U.S. and India, accelerate product development, and bring its operating system to market, with a product preview planned for early 2024.
PRESS RELEASE — SAN FRANCISCO/ December 7, 2023 — (BUSINESS WIRE) — Rhythms, an AI-powered enterprise productivity startup founded by industry veteran and serial entrepreneur Vetri Vellore, today announced $26 million in seed funding, co-led by Greenoaks and Madrona with participation from Accel, Cercano (formerly Vulcan), and Founders’ Co-op, all of which were also investors in his previous venture, Ally.io, which was acquired by Microsoft in 2021.
Rhythms is developing a first-of-its-kind AI-powered Operating System to transform the future of work, enabling every organization to achieve best-in-class performance and productivity. The company’s artificial intelligence model identifies working patterns of high performing teams, and its intelligent agent will enable every part of the workforce to personalize and adopt “rhythms” of top performing teams within their organization or from top-tier organizations around the world. The system seamlessly integrates with existing tools and workflows, making it easy for teams to adopt and achieve higher productivity in every part of their work.
“We are thrilled to launch Rhythms and pioneer a first-of-its-kind AI software solution that will revolutionize how organizations work day-to-day,” said Mr. Vellore, a third-time entrepreneur and most recently, a Corporate Vice President at Microsoft. “The rise of AI and the continued popularity of hybrid workplaces are two of the defining trends of our time. These, along with the continued push to achieve more with less, have created an urgent need for all organizations to re-examine how they operate and enhance their organizational productivity. Our solution will help enterprises understand, streamline, improve and orchestrate their rhythms that are at the core of their organizational productivity, and enable every team to achieve best in class performance and higher work satisfaction.”
He continued: “We are excited to be backed by world-class investors that know us well and with whom we have partnered before. When we considered starting a new business, we knew that we would turn first to Greenoaks and Madrona, deeply aligned partners whose conviction and expertise will amplify what we can accomplish.”
“The invention of software fundamentally transformed the way people work. We believe that the advent of AI will change it again,” said Neil Shah, Partner at Greenoaks. “Few people in the world have mastery of what drives organizational performance and the ability to develop remarkable software that enhances it. Even fewer have the energy to build several successful businesses on top of these insights. Vetri is the rare combination of both. We are privileged to once again partner with Vetri and his team as they build a category-defining product. We look forward to working with them for years to come.”
“Vetri is a rare talent. He has dedicated his career to developing products that enhance purpose, happiness, and productivity in the workplace and has two successful companies to prove it,” said S. Somasegar, Managing Director, Madrona. “AI opens up entirely new pathways for tools to increase efficiency, information sharing and workflows, and we are excited to help Vetri and his team as they build Rhythms.”
With the rise of hybrid work and the imperative to accomplish more with less, Rhythms is poised to play a pivotal role in shaping the future of productivity. Its AI-powered operating system will transform the way teams work, dramatically simplify everyday workflows and allow organizations of all types to advance to new frontiers of performance.
This funding will enable Rhythms to expand its teams in the U.S. and India, accelerate product development, and bring its innovative operating system to market. The company will launch a product preview to select customers in early 2024 and make its solution broadly available later in 2024.
About Greenoaks
Greenoaks makes concentrated, long-term investments in generational teams building enduring companies. The firm invests behind exceptional leaders early in their journeys, building partnerships that endure for decades. Greenoaks has made investments in category-defining companies such as Airtable, Canva, Databricks, Discord, Stripe, and Wiz.
About Madrona
Madrona is a venture capital firm based in Seattle, Washington with an office in Palo Alto. With more than 25 years of investing in early-stage technology companies, the firm has worked with founders from Day One to help build their company for the long run. Madrona initially invests in seed and Series A rounds across the information technology spectrum and in acceleration stage (Series B and C) companies building intelligent applications. Madrona manages over $3 billion and was an early investor in companies such as Amazon, Smartsheet, Snowflake, Rover, Apptio, Redfin, and UI Path.
Contacts
Media
For Rhythms:
Kevin Siegel/Sophia Templin
[email protected]
Featured image: Credit: Madrona
