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The product allows non-paying teams to have up to 150 conversations. Companies can pay for a premium version of the software allowing unlimited conversations at $ 10 per month per user.
The company raised just under $ 11.5 million, including a $ 10.5 million Series A round announced Wednesday and led by Sequoia Capital.
Mike Vernal, partner at Sequoia Capital and former vice president of products and engineering at Facebook, said the firm had invested in Threads, thanks largely to Kazi's work on Facebook. Vernal said that he was a big fan of Kazi, who had exceptional talent and was "one of the fastest growing people with whom I've worked with Facebook".
At one of Facebook's hackathons, a team has come up with a tool to stabilize the video of the user. Everyone at the hackathon was impressed by the tool, but nobody knew what to do with it, Vernal said. Kazi adopted the software and directed its development on Hyperlapse, an Instagram application that allows users to create stable time-lapse videos.
"The hyperlapse would not exist if Rousseau had not adopted it and had not helped it develop it," Vernal said. "He always seemed generous to me, and when he sees something good that could please the people of the world, he is happy to participate and make it happen."
Now, Vernal and Sequoia are betting that Kazi will be able to turn Threads into a chat room service for business environments.
"On the Internet, there are forums and places like Reddit that are discussion forums," Vernal said. "This is a largely under-explored area of workplace communication.I think it's a field conducive to innovation."
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