- Krypton plans to create a mobile Microsoft Office competitior
- Shishir Mehrotra, formerly of YouTube, founded the company
Shishir Mehrotra, a former top executive at Google’s YouTube, has raised two rounds of funding for Krypton, a secret mobile competitor to Microsoft Corp.’s Office software, according to people familiar with the matter.
Khosla Ventures led Krypton’s second funding round, valuing the company at $400 million, according to the people, who asked not to be identified because the information isn’t public. The company has raised at least $25 million, though the amount may be much higher. Greylock Partners and General Catalyst Partners invested in Krypton’s first round of financing and also participated in the later round.
Reid Hoffman, the executive chairman of LinkedIn Corp. and a partner at Greylock, and Hemant Taneja, managing partner at General Catalyst, are members of the Krypton board. The startup’s name may change before a public launch, the people said.
Mehrotra, formerly YouTube’s head of product, left the company in 2014. His LinkedIn page lists him as the founder of an unnamed startup since June 2014. He declined to comment through a spokeswoman.
Krypton hasn’t released its product publicly and it isn’t clear how far it has been developed. People familiar with the company said it is building a mobile-centric suite of business productivity tools that would compete with Microsoft’s Office and Google Docs.
Google announced Monday that it will offer its Web-based document, spreadsheet and other office tools free to businesses that are under a long-term contract with Microsoft or other software vendors.
Krypton isn’t the only startup trying to dislodge Microsoft’s grip on productivity software. Quip, co-founded by former Facebook Inc. chief technology officer Bret Taylor, raised $30 million in a second round of funding led by Greylock Partners. The company has built a cloud-based word-processing tool.