FiftyThree snags $30 mln Series B from NEA


FiftyThree, which develops mobile tools for creation, has raised $30 million in Series B funding. The investor was New Enterprise Associates. According to the company, the capital infusion will be used for expansion.

PRESS RELEASE

FiftyThree announces $30M in Series B funding from New Enterprise Associates (NEA). The round, led by Dayna Grayson of NEA and supported by existing investors, will be used to boost FiftyThree’s expansion into enterprise and education. With portfolio companies such as Box, Tableau, and Workday, NEA is a leading investor in the enterprise space.

FiftyThree ­ founded in 2011 by Georg Petschnigg, Andrew Allen, Jon Harris, and Julian Walker ­ are the makers of mobile tools for creation. The company’s product suite includes the iPad app Paper, the Bluetooth stylus Pencil and its accompanying SDK, and Mix, an online service that lets people create together.

When Paper launched in 2012 it was chosen as Apple’s App of the Year, and following Pencil’s 2013 release, FiftyThree established international distribution and retail channels, including Amazon and Apple. Today, Paper has amassed 13M+ downloads, Mix has over 1M users, and over 150M ideas have been captured in Paper. FiftyThree has new offices in NYC and Seattle, and a team of 53 employees.

“Our most common tools for innovative thinking – sticky notes, legal pads, and whiteboards – are stuck in the past. With this investment we’ve accepted the challenge of bringing a new crop of tools for creative thinking to a place where they matter most: education and the enterprise. It’s about making creativity accessible to all.” —Georg Petschnigg, FiftyThree Co­Founder and CEO

FiftyThree is soon to unveil a new kit of tools in Paper called Think Kit, launching this April. FiftyThree has developed an Intention Engine™ — a breakthrough for pen and touch input that dramatically speeds up the creation of diagrams, charts, and presentation sketches. It’s like auto­correct for drawing, and augments the ability of the human hand so you can write and draw at the speed of thought.

“Tackling the space of idea creation requires a deep understanding of how people collaborate, and how technology can serve the need to innovate and stay creative. With one of the best product and design teams we’ve seen, FiftyThree is strongly positioned to redefine productivity and we’re excited to help bring their new products and services to the enterprise.” —Dayna Grayson, NEA Partner

ABOUT FIFTYTHREE
FiftyThree ​is building a new generation of mobile tools for creativity, used by millions of creative thinkers around the world. They are the creators of the breakthrough iPad app Paper, Apple’s App of the Year, Pencil, a digital stylus and winner of two IDSA awards, and Mix, a service for sharing ideas and finding inspiration. FiftyThree is the space to create.
​www.fiftythree.com

ABOUT NEA
NEA ​is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With more than $13 billion in committed capital, the firm invests in information technology and healthcare companies at all stages in a company’s lifecycle, from seed stage through IPO. NEA’s long track record of successful investing includes more than 200 portfolio company IPOs and more than 320 acquisitions. For additional information, visit www.nea.com.