On August 22, 2024, Dropbox, the prominent file management and collaboration firm, announced the acquisition of Reclaim.ai, a startup specializing in AI-driven scheduling solutions.
The acquisition merges Dropbox’s established file management capabilities with Reclaim’s advanced scheduling technology. Founded in 2019 by Henry Shapiro and Patrick Lightbody, Reclaim.ai has quickly gained traction in the productivity sector.
Reclaim.ai supports over 320,000 users across 43,000 global companies, including high-profile clients such as PagerDuty, Zapier, and GitHub. Its technology leverages artificial intelligence to assist users in optimizing their schedules, finding ideal meeting times, and balancing work tasks with personal breaks.
The Portland, Oregon-based startup had previously secured $9.5 million in funding from investors like Calendly, Index Ventures, and Gradient Ventures. Although the financial specifics of the acquisition were not disclosed, Dropbox’s move underscores its commitment to broadening its productivity tools.
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As part of the acquisition, Reclaim’s entire team of 22, including its founders, will join Dropbox. This integration aims to enhance Dropbox’s offerings in productivity and time management.
Reclaim’s founders highlighted their alignment with Dropbox’s vision of creating a more enlightened work environment. They underscored their shared mission of helping users prioritize what matters most and advancing AI-driven improvements in work processes.
Existing Reclaim users will experience no immediate changes to pricing or customer support. The Reclaim team will continue to develop their product under Dropbox’s ownership, with forthcoming updates including Microsoft Outlook calendar integration.
This acquisition aligns with a broader trend among productivity companies to incorporate calendar management and scheduling tools. Earlier this year, ClickUp acquired calendar startup Hypercal, while Notion launched its own calendar product following its acquisition of Cron in 2022.
Dropbox’s recent financial results for Q2 2024, released earlier this month, revealed revenue of $634.5 million, marking a 1.9% increase year-over-year. The company also reported 18.22 million paying users, up from 18.04 million the previous year.
The Reclaim acquisition is a strategic move by Dropbox to strengthen its productivity solutions. The company has previously acquired several productivity-focused firms, including DocSend and Command E in 2021, and FormSwift for $95 million in 2022.