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Asana Said To Secure New Debt Funding

Asana CEO Dustin Moskovitz.

Photo credit: Seb Daly/Web Summit via Sportsfile, under Creative Commons license

Software company Asana, which confidentially filed to go public earlier this year, has raised about $200 million in convertible debt ahead of its planned listing, according to a Bloomberg report. Bloomberg reports Asana co-founder and CEO Dustin Moskovitz, who made a fortune co-founding Facebook, was the main lender in the convertible debt offering. For now, it's unclear which other investors participated in the debt offering.

Asana was founded in 2008 and has remained a private company since then. In its entirety, the company is known to have raised about $213 million in funding, last valued at $1.5 billion by investors. Investors in Asana include the likes of Founders Fund, 8VC, Benchmark Capital, and Generation Investment Management. In February of last year, Asana announced it had crossed $100 million in annual recurring revenue (ARR).

Asana is said to be aiming for a direct listing on the public markets rather than a traditional one when companies raise more money from investors in order to go public. As of now, only two other companies, Spotify and Slack, have held successful direct listings. If Asana's goes through, it'll mark the third ever, all three notably being technology companies.


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