Asana

Asana is a project management tool founded in 2008 that focuses on collaborative task management. Asana allows users to break up projects and assign, track and meet task deadlines using email, calendar and communication integrations. It announced a workflow integration solution in partnership with ServiceNow’s enterprise platform (May 2021) and introduced video messaging capabilities in partnership with Vimeo (June 2021). In March 2023, 

Asana has introduced a range of prediction-based AI tools to its platform to automate workflows and improve decision making. In October 2024, Asana introduced AI Studio which  allows users to create and deploy custom AI agents directly on workflows. Previously in October 2023, Asana introduced new AI features aimed at improving work efficiency and clarity for organizations. The features included smart fields, a smart editor, and smart summaries, which help teams better organize projects, generate draft notes, and produce task highlights. In June 2024, Asana introduced a beta version of AI Teammates, an AI-based software designed to streamline organizational workflows. 

Asana listed on the New York Stock Exchange in September 2020 and had a total of USD 453 million in debt and equity financing at the time of the listing.

Key customers and partnerships

The company’s clientele includes large enterprises such as Dell, Amazon, Johnson&Johnson, and Merck. 

In May 2023, Asana partnered with Theta Lake to help joint customers streamline their workflows, manage tasks more effectively and ensure compliance needs are met. And in June 2021, The company partnered with Vimeo to launch video messaging capabilities. 

Funding and financials

Asana’s FY 2023 revenue was up 45% YoY at USD 547 million. The revenue growth was supported by a 19% YoY growth in paying customers to 139,000 as of Q4 FY2023. Notably, the number of customers spending USD 50,000 or more (annualized basis) grew 46% YoY to ~1,300 as of Q4 FY2023, indicating significant traction among larger customers. Full-year FY2023 non-GAAP operating loss deteriorated to USD 207 million from USD 157.1 million a year ago.

The company guided full-year FY2024 revenue to reach USD 638 million–648 million, implying a 17%–18% YoY growth.