In a significant development, Dropbox has acquired Reclaim.ai, an AI-powered scheduling tool that counts Calendly and Index Ventures among its backers. The acquisition was revealed in a blog post on Reclaim.ai’s website on Tuesday.
Terms of the Deal Not Disclosed
Dropbox has not disclosed the terms of the deal, but Reclaim.ai has confirmed that it will continue to develop its product under the new ownership. The company also stated that it is committed to ongoing support for all users.
Overview of Reclaim.ai
Reclaim.ai was founded in 2019 by Henry Shapiro and Patrick Lightbody. The startup focused on using AI to help users better manage their time and find slots for meetings, tasks, building personal habits, and taking breaks. Its product integrates with Google Calendar and allows users to create different scheduling features, such as booking links and the ability to automatically book times that are optimal for all participants.
Key Features of Reclaim.ai
- AI-powered scheduling: Reclaim.ai uses AI to help users better manage their time and find slots for meetings.
- Integration with Google Calendar: The product integrates with Google Calendar, allowing users to create different scheduling features.
- Scheduling features: Users can create booking links and automatically book times that are optimal for all participants.
Reclaim.ai’s User Base
Over 43,000 companies and more than 320,000 people use the tool worldwide. The startup had raised over $9.5 million in funding from investors to date, including Calendly, Character.vc, Flying Fish, Gradient Ventures, Index Ventures, Operator Partners, Yummy Ventures, Grafana CEO Raj Dutt, and former GitHub CTO Jason Warner.
Fees and Plans
Reclaim.ai had a basic free tier for individual users, combined with plans for small teams that started at $8 per person per month. The company noted that it is not changing its fees for now.
Team Joins Dropbox
In a video posted on X, the Reclaim.ai founders said their entire team of 22 people is joining Dropbox. "The Dropbox mission is to ‘design a more enlightened way of working’ – a goal we’ve shared since Reclaim began in 2019," the company wrote.
Future Plans for Reclaim.ai
Reclaim.ai has supported only Google Calendar integration until now but plans to introduce support for Outlook soon.
Industry Trends
Productivity companies have increasingly aimed to integrate calendar management and scheduling tools with their solutions. Earlier this year, Tiger Global and a16z-backed productivity platform ClickUp acquired calendar startup Hypercal, with plans to roll out scheduling features. In January, Notion introduced its new calendar product, based on Cron, which it acquired back in 2022.
Dropbox’s Q2 2024 Results
Dropbox released its Q2 2024 results, reporting $634.5 million in revenue, up 1.9% year-on-year, and 18.22 million paying users, up from 18.04 million last year.
This acquisition marks a significant move by Dropbox to expand its product offerings and improve the way people work. With Reclaim.ai’s AI-powered scheduling tool, Dropbox can provide its users with more efficient and effective ways of managing their time and schedules.
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Sources:
- Reclaim.ai blog post on Tuesday
- Dropbox Q2 2024 results
- Industry trends and news articles
