Amsterdam-based not8, a B2B startup that aims to standardise the product development review process, announced on Thursday that it has raised an undisclosed investment from Antler.
The Dutch startup says it intends to deploy the funds on product development and accelerate business development and growth efforts. Not8 also announced that it plans to raise pre-seed funding during the summer of 2023.
The Dutch company is addressing one of the main issues plaguing tech companies that primarily focus on PLG (Product-led growth) – Product feedback.
To achieve product-led growth, the product team needs to review a product often, and this process needs to be fixed, claims not8.
Product managers, web designers, front-end developers, and QA’s waste tens of hours per week making unnecessary calls, marking screenshots, and sending long-written explanations on needed fixes.
Here’s where not8 jumps in to offer a solution that easily lets anyone give feedback on a product.
“We’re thrilled to have the support of Antler as we continue to grow and improve our platform,” says CEO Yaroslav Medvedev. “Our goal is to make not8 a go-to tool for product teams worldwide and revolutionise the way they work. This funding will bring us one step closer to that vision.”
not8: What you need to know
Founded by Yaroslav Medvedev (ex-McKinsey) and Vladislav Dekhanov (ex-Yandex) in 2022, not8 is on a mission to change how product review is done.
not8’s feedback tool enables the product team to comment on any web-based product, streamlining the development process.
“It is like leaving ‘sticky notes’ on your screen, making the process 10x faster and allowing IT companies to save 550+ hours per year,” says the company.
The tool also helps the product team to keep all the necessary information in one place, reduces the risk of information loss, and minimises the number of review cycles required.
CTO Vladislav Dekhanov says, “We plan to further enhance the functionality of our software by adding integrations with other tools such as Jira, ClickUp, and Loom, developing a back office, and adding other product features that will make it even easier for product teams to streamline their review process and save time.”
Solving real problems
Antler is an early-stage venture capital firm that wants to create thousands of companies globally that solve ‘real’ problems.
Antler partners with people across six continents and in 25 cities to launch and scale high-potential startups that address meaningful opportunities and challenges.
Antler has invested in and helped build over 600 companies across a wide range of industries and technologies, with the goal of backing more than 6,000 by 2030.
“We are thrilled to have not8 in our portfolio and be one of the happy users of the product. The not8 team brings together a great combination of operational and technical skills and experience, and with their focus on simplicity in the user experience, we believe they have the potential to make a significant impact in how we do product feedback,” says Youri Doeleman, Partner at Antler.