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HomeStart UpAccel-backed SaaS startup OSlash to cease operations by month end

Accel-backed SaaS startup OSlash to cease operations by month end

OSlash, an enterprise software-as-a-service (SaaS) firm, recently secured $5 million in funding from notable investors like Kunal Shah and Akshay Kothari. However, the company has announced its decision to cease operations by the end of this month.

Shutting down OSlash will allow the company to return capital to investors “with dignity and humility. More importantly, we will channel lessons learned into our next adventure,” it said in a blog post, without sharing specific details. 

This Bengaluru and San Francisco-based startup provides user-friendly AI-based copilots designed to enhance workplace productivity for software, teams, and individuals.

Established in 2020, OSlash received investments of approximately $2.5 million in September 2021 from backers, including Accel Partners.

The blog post said that the company had started with OSlash shortcuts, which failed to find any commercial success. However, “on popular demand, we augmented the product with a text expander—OSlash snippets—that helped users automate repetitive typing,” it added.

“While the problem we tackled remains pressing, we failed to reach product-market fit even after a couple of pivots and build a sustainable business model. Though disheartening, we accept this outcome with grace,” the company said in the blog post. 

The three-year-old startup is no longer accepting new registrations for OSlash. Existing users will have access to an open-source extension allowing them to download and export their current shortcuts.

“We urge you to do this latest by 29th November, 2023… All user data will be permanently deleted from our servers by November 30th as we shut down completely,” the blog post said. 

After its last funding round in March 2022, OSlash had plans to expand its team in the United States and Europe and develop a search tool that aggregates data from various applications. At that time, OSlash served over 3,000 teams, including Cred, Khan Academy, and Twitch.

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BRL Editorhttps://businessreviewlive.com
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