Folk is a new productivity tool launched by European startups eFounders. And the startup has just raised a $ 3.3 million funding round led by Accel with a large group of business angels.
When you think about managing contacts and relationships in a business environment, you might think that companies have already solved this problem. A whole category of products and companies has emerged around this idea with CRMs. Popular CRM platforms include Salesforce and HubSpot and I’m sure your sales team loves their CRM.
But what exactly does CRM mean? Customer relationship management. If you work for a team that does not have customers, then CRMs are not the most appropriate tool. For example, public relations teams work with journalists, logistics teams work with suppliers, event teams work with several types of partners, etc.
Folk wants to be the relationship management tool for the rest of the business. Chances are, these teams aren’t using CRM. Instead, they often rely on shared spreadsheets or information remains siled.
The company even tries to name this new category of contact tools and calls xRM for Extended Relationship Manager. “In xRM, the ‘x’ stands for anyone: you can use it not only to manage clients but also for journalists, suppliers, partners, for example,” Folk CEO Thibaud Elziere said in a statement.
Visually, Folk looks like a spreadsheet. You can add columns with specific information. You can also track your progress around a project with tags. As with Airtable, Folk allows you to filter your view, rearrange the data, and sort the table in different ways.
When you click on a contact, you open a dedicated contact page. It allows you to edit data more comfortably and view more information. You can add comments, assign contacts to your colleagues, and view interactions with these contacts, for example.
You don’t need to enter meetings in Folk or copy and paste email conversations into the service. Folk automatically retrieves data from your Gmail and Google Calendar accounts. This way the whole team can see if someone is staying in closer contact with a partner. You can choose to share certain contacts with the rest of the team, but keep your personal contacts to yourself.
In addition to Accel, 35 investors who tend to be operators in their businesses are also participating. It’s a large group of investors and you can check out the table of these investors at the end of the article.
It’s also worth noting that Thibaud Elziere, CEO of Folk, is also a co-founder of eFounders, the startup studio where some popular SaaS tools originally started, such as Front, Aircall, and Spendesk. And I’m sure he has a large network of folk contacts that he can tap into to turn folk into commercial success.