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Fibery secures $5.2M to transform the way businesses operate

Headquartered in Cyprus, Fibery, the work and knowledge hub for startups has raised $5.2 million in Series A funding. The investment round was led by an Israeli venture capital firm Tal Ventures with additional funding from Altair Capital (which backed female-led Trash Warrior and, the brainchild of a ‘Forbes 30 Under 30’ member). Last year, the company raised a seed round of $3.1 million. With this, the total investment secured by the company is now $8.3 million.

With this investment, Fibery plans to expand and develop new channels, speeding up the company’s growth.

Michael Dubakov, CEO and Co-Founder of Fibery said, “We don’t claim to be building a solution that is the best at everything; rather, we are providing the essential building blocks companies need to better understand problems, collaborate, and invent solutions. We are excited to utilize this funding to build out our team and further transform, for the better, how companies can most productively work together.”

Miriam Shtilman-Lavsovski, Partner at Tal Ventures added, “Fibery has found a unique product-market fit, building a smart, well executed solution to help startups and enterprises work better, faster, and smarter together. The team’s transparent way of communicating their offering and internal processes has been a breath of fresh air in today’s business climate and we are excited to help them spread their mission across Europe, and eventually, globally.”

One-stop-solution for work management

Founded in 2017 by Michael Dubakov, Fibery is a no-code work management platform that adapts to companies and grows with them. With a team of over 20, the solution is used by nearly 500 companies across stages and sizes, including Lemonade, Pinterest, NZX, Grundfos, Optiv, and Plex. It has a team of nearly 30 across the EU in Denmark, Poland, and Belarus.

Its connected workspace combines work management and knowledge management into a single, flexible tool, giving product companies a unified platform with fully customisable work processes. Companies do nearly everything in Fibery, including managing the full product development cycle, collecting customer feedback, storing research and other wiki information, managing clients, projects, invoices, and receiving payments.

Fibery’s solution is designed to grow with the companies that use it, providing teams with the building blocks necessary to create a personalised workspace tailored to their unique and changing needs. The company is transforming how startups understand problems, collaborate, and come up with solutions while cutting technology costs and breaking down knowledge and information silos.

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