Almanac, which offers a collaborative doc editor, raises $34M Series A led by Tiger Global, following its $9M seed round earlier this year
Context & Ripple Effects
Almanac's raise fits a distinctive 2021 Tiger Global pattern: the firm led large Series A rounds for workflow-collaboration tools at a rapid clip, backing Scribe's $22M Series A a month later and Easol's $25M Series A that December. Almanac's jump from a $9M seed earlier in 2021 straight to a $34M Series A compresses the fundraising cadence that peers took years to climb.
The comparable in the coverage is Ally, the goal-planning collaboration tool, which scaled through a Tiger Global-led Series B to a $50M Series C and $76M total raised — the trajectory a fast-funded doc editor would be expected to follow. The arc's cautionary tail: sources report Tiger later cut Superhuman's valuation 45% and DuckDuckGo's 72%, marking down the same collaboration-software cohort it rushed to fund.
First-order effects
- Almanac gains roughly 4x its seed capital in a single year, letting it scale the collaborative doc editor's team and product while competitors in the same category are still raising at seed-stage sizes.
Second-order effects
- Rival collaboration and workflow-tool startups now face a Tiger Global-funded peer, and the firm's 2021 Series A cadence (Scribe, Easol, Almanac) effectively raises the round-size bar for the whole workflow-software segment.
Third-order effects
- If the pattern holds, collaboration-tool valuations set during this compressed funding window get repriced when the cycle turns — as Tiger's later markdowns of Superhuman and DuckDuckGo suggest it did for its own portfolio.
The trend: Tiger Global's COVID-era strategy of leading outsized Series A rounds for collaboration software compressed startup funding timelines, a pace its later portfolio markdowns show was not durable.