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- Founded: 2011
- Ceased Operations: 2015
What did LayerVault do?
LayerVault was a cloud-based file storage and collaboration platform for creative professionals. It allowed users to store, share, and collaborate on design files, photos, videos, and other creative assets. LayerVault also offered a variety of features for version control, feedback, and project management. LayerVault was a popular tool among creative professionals. It was used by designers, photographers, videographers, and other creatives to store, share, and collaborate on their work. LayerVault was also used by businesses to collaborate on marketing materials, product designs, and other creative projects.
LayerVault raised $535K in funding from three investors: Betaworks, High Line Venture Partners, and SV Angel. LayerVault was acquired by Dropbox in 2015. The acquisition was part of Dropbox’s efforts to expand its offerings for creative professionals.
Who started LayerVault?
Founders Kelly Sutton and Allan Grinshtein
Why did LayerVault go out of business?
LayerVault faced increasing competition from other cloud-based collaboration platforms, such as Dropbox, Box, and Google Drive. These platforms offered similar features to LayerVault, and they were often free or offered a freemium pricing model. This made it difficult for LayerVault to compete on price, and the company’s growth began to slow. LayerVault’s pricing was seen as too high by some customers. The company’s plans started at $15 per month per user, which was more expensive than some of its competitors.
LayerVault’s customer support was not as responsive as it could have been. As a result, many designers were frustrated with the company and switched to other tools. LayerVault was a privately held company and had been struggling to raise additional funding. LayerVault laid off 20% of its employees in an effort to conserve cash. However, these measures were not enough to save the company and it ultimately filed for bankruptcy.