Firstbase Inc., a startup that helps companies issue laptops and other equipment to remote workers, has closed a $50 million funding round led by Kleiner Perkins.
The company announced the investment this morning. Andreessen Horowitz, Alpaca VC and Forum Ventures also contributed to the round.
Founded in 2019, Firstbase provides a cloud service that helps organizations streamline the process of issuing equipment to remote workers. Using Firebase’s service, a company can create an online catalog of the hardware products that it makes available to workers. New hires who join the company can browse the hardware catalog and order the devices they need for their work on a self-service basis.
Firstbase manages the logistics of shipping hardware to workers. The startup also helps users set up their equipment after it has arrived. Companies can use Firstbase’s catalog to provide remote workers with access to a variety of hardware products including laptops, displays, keyboards and furniture.
The startup’s focus also extends beyond the initial device deployment phase. Firebase manages hardware repairs, while providing a feature that enables companies to upgrade devices such as laptops if a new version is launched by the manufacturer. When a worker leaves, Firstbase retrieves company-issued hardware.
Firstbase says its service not only saves time for organizations, but also reduces the costs associated with issuing hardware to employees by thousands of dollars per new hire. The startup’s value proposition is winning over a growing number of companies. It disclosed today that its customer base has increased by a factor of seven since its previous funding round last April.
Customer momentum has helped it achieve significant revenue growth. The startup says it’s generating 16 times more revenue today than last April, though it didn’t share absolute numbers. It grew its headcount fivefold to more than 50 workers during the same time frame.
“The ability to work remotely is no longer a perk, it’s a requirement, differentiating companies in recruiting and helping them retain and attract great employees,” said Firstbase co-founder and Chief Executive Officer Chris Herd (pictured, right, with co-founder Trey Bastian). “Going remote is broken. It’s expensive and time-consuming and can lead to bad employee experiences. Businesses need to adjust everything from HR to IT to facilities to efficiently offer a seamless, enjoyable employee experience.”
Other companies are also addressing the enterprise demand for tools that can ease the task of managing employee devices. Startup Rippling Inc., which recently raised $250 million in funding, provides an employee management platform that includes features for issuing and maintaining company-issued hardware. Jamf Holding Corp., which helps companies maintain Apple Inc. devices they issue to workers, listed its shares in a 2020 initial public offering that raised $468 million.