Raycast, A Developer Productivity Tool, Raises $15 Million

Published on 01 Dec 2021

Raycast, a developer program situated in London, has acquired $15 million (£11.2 million) in a Series A round, managed by Coatue as well as Accel.

Raycast said that it would utilize the cash to "double down" on building its developer community and tools, as well as expanding the platform's availability to teams of developers.

An Introduction To Raycast

Raycast's technology, established in 2020 by former Facebook software engineers Thomas Paul Mann with Petr Nikolaev, enables software developers to eliminate context switching, which occurs when a computer function is paused and then reaccessed.

Raycast was also backed by angel investors, including Johnny Boufarhat, CEO and creator of Hopin; Jeff Weinstein, Product at Stripe; Jason Warner, formerly CTO of GitHub; and Ott Kaukver, CTO of Checkout.com and ex-CTO of Twilio.

"We're further elated to grant early access to our new team characteristics for the very first time, in the expectation that it would make creating and sharing internal tools indeed simpler for enterprises and people," Raycast CEO Thomas Paul Mann said.

Raycast's daily active user base has increased to almost 11,000 in the previous 12 months, up from 130 in October of last year. Over 20 million activities have been completed on the platform by these people.

"Since commencing Raycast's previous investment, we've been pleased with Raycast's growth and traction in the developer association," stated Andrei Brasoveanu, an associate at Accel. This confirms our original opinion that Raycast has the potential to become a vital development tool, and we're happy to see the team take it even further with the introduction of the API and Store, as well as team growth."

See also: Key Challenges The FinTech Industry Is Facing In 2021

Raycast's Extensions API & Store

Along with the fundraising round, Raycast introduced a public beta of its Extensions API and Store, which enables developers to create custom extensions in under 30 minutes and share them with their team or community to automate routine operations. Within a month of the beta's launch, the community had created over 100 extensions linking to sites such as Figma, GitHub, Chrome, Notion, YouTube, and Twitter.

Raycast is announcing the public release of the Extensions API and Store, which will make it available to developers worldwide and enable the construction of a truly global community of productivity solutions.

"Too many engineers are wasting time that might be spent on core work by bouncing between non-coding jobs or seeking for information across many SaaS applications," said David Cahn, a partner at Coatue. We believe Raycast provides a robust framework for developers to accelerate routine activities."


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