Dropbox Acquires Productivity and Scheduling App Reclaim.ai
August 27, 2024
Dropbox has purchased Reclaim.ai, a scheduling tool that uses artificial intelligence to boost productivity, popular with Google Calendar users. The privately held Reclaim announced the deal in a blog post that claims a global user base of over 43,000 companies and more than 320,000 people. Launched in 2019, Reclaim investors include Index Ventures and Calendly contributing to cash raise of more than $9.5 million to date. File-sharing app Drobox has been publicly traded since 2018 and has a current market cap of $7.92 billion. Financial terms of the deal have yet to be disclosed.
“We envisioned a world where the calendar was aware of our needs and priorities, where it was deeply integrated into the systems of record that describe what’s important, and where it could take action on our behalf to adapt to ever-changing conditions on the ground,” Reclaim.ai founders Henry Shapiro and Patrick Lightbody said in a blog post about the acquisition.
Reclaim “integrates with Google Calendar, also lets users create different scheduling features, like booking links and the ability to automatically book times on schedule that would be optimal for all participants,” TechCrunch writes, noting that its competitors have included scheduling tools such as Calendly, Doodle and Clockwise.
Now that Microsoft Outlook has added Copilot integration and Google Calendar has incorporated Gemini, Reclaim and Dropbox will also be competing with them.
Reclaim said it “plans to introduce support for Outlook soon,” according to TechCrunch, which notes the company’s “entire team of 22 people” will be staying on at Dropbox.
“Reclaim.ai had a basic free tier for individual users, combined with plans for small teams that started at $8 per person per month” and “the company noted it is not changing its fees for now,” per TechCrunch, which indicates that in addition to a presumed Dropbox integration it will continue to be marketed as a discrete product.
Popular adoption of generative AI makes intricate and focused calendaring possible, writes SiliconANGLE, explaining that “by joining forces with Dropbox, users will get a calendar that not only understands what other people are doing but also what they’re involved with” because “generative AI makes it possible for you to just say what you need and can handle all the underlying work of scheduling for you.”
Recent acquisitions by Dropbox “include paying $95 million for form management platform FormSwift in 2022,” the 2021 purchases of document-sharing firm DocSend and search outfit Command E in 2021, reports GeekWire.
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