Harmony raises $34 million to transform IT management with AI

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Key Takeaways

1The founders of Harmony, after a sale to Cisco, raise $34 million to automate IT requests.

2Harmony integrates AI into Slack and Teams to simplify software access and password management.

3Lightspeed and other investors support this initiative aimed at reducing wait times for employees.

💡Why it matters — This funding allows Harmony to expand rapidly, promising to revolutionize the efficiency of IT services in the workplace.

An Ambitious Fundraising for Harmony

The co-founders of the startup Harmony, Ran Ribenzaft and Nitzan Shapira, recently succeeded in raising $34 million in a seed funding round. This round was led by the venture capital firm Lightspeed. This is not the first time these entrepreneurs have made headlines: they previously sold their former company to Cisco for the impressive sum of $500 million.

Automating IT Tasks with AI

Harmony stands out for its ability to automate routine tasks in the workplace using artificial intelligence. The company was founded last year by Shapira and Ribenzaft, who serve as CEO and CTO, respectively. Their platform integrates directly into popular communication tools like Slack and Microsoft Teams, allowing for the management of tasks such as onboarding new employees, accessing software, and resetting passwords.

A Personalized and Quick Response

Harmony's main goal is to reduce the time employees spend searching for information in internal systems or waiting for help from technical support or human resources. The platform is compatible with over 100 applications, and it personalizes its responses based on each employee's role and permissions. Companies also have the option to request human approval before the AI executes certain actions.

Prestigious Clients and Strong Financial Support

Among Harmony's clients are notable companies such as n8n, specializing in workflow automation, the investment app eToro, the security startup Cyera, and the fashion retailer Kith. The $34 million funding round was led by Lightspeed, which had previously supported the founders' first company, Epsagon, acquired by Cisco in 2021. This time, Shapira expresses his ambition to build a larger and sustainable company, rather than aiming for a quick acquisition.

Exceptional Funding for Rapid Growth

In addition to Lightspeed, other investors such as Hitachi Ventures, Fin Capital, Mercer Ventures, and Operator Partners participated in this funding round. This amount exceeds the average for seed rounds, which is not unusual for experienced founders like Shapira and Ribenzaft. With these funds, Harmony plans to strengthen its engineering, product, and sales teams.

International Expansion

Currently, Harmony employs 60 people, with about two-thirds of the workforce based in Israel and the rest in New York. This geographical distribution allows the company to benefit from an international perspective from the outset.

An Overview of the Pitch Deck

To convince investors, Harmony used a detailed pitch deck, which has been partially redacted for public sharing. This document played a key role in the success of their fundraising, clearly illustrating their vision and strategy to transform IT request management in enterprises.