Tell us about Approveit
Approveit is an AI-powered workflow automation platform designed to simplify approval and task management for Finance, HR, and IT teams. It helps teams automate repetitive processes, manage approvals, and handle tasks efficiently, all within familiar communication channels like Slack Microsoft Teams and email. By keeping collaboration in communication channels, Approveit makes it easy for teams to stay connected and work together without switching between different tools.
Whether it’s handling simple approval requests or managing complex workflows, Approveit keeps everything organised in one place, ensuring that tasks are completed on time and with full transparency. This approach not only saves time but also ensures compliance with industry regulations and internal policies.
It integrates seamlessly with existing tools, pulling and pushing data as needed, and provides real-time updates to keep everyone in the loop. Approveit empowers businesses to streamline their operations, improve collaboration, and boost productivity by making workflows smoother and more efficient right where communication happens.
How did you come up with the idea for the Approveit?
My co-founder, Dmitry Matveev, and I are passionate about technology, and we both saw the need for better workflow automation. In our past projects, we noticed that approval processes often slowed businesses down. To address this, we began testing ideas and gathering feedback from users.
After speaking with many companies, we realised that while businesses have various challenges, one common problem stood out: messy workflow processes often distract employees from important tasks, affecting their motivation and overall efficiency. This insight led us to create Approveit—a tool to streamline approval workflows, saving time and reducing financial losses.
Our first version was a simple app for Slack, which quickly gained traction, making us the #3 product of the day on ProductHunt and earning our first paying customer. Since then, we’ve continued to improve Approveit based on user feedback. It’s now a standalone platform with an easy-to-use workflow builder that integrates with Slack, Microsoft Teams, Email, and many other systems, processing thousands of requests each month.
Our goal with Approveit is to help companies see better performance, faster decision-making, and more engaged teams through improved transparency and compliance.
How has the company evolved over the last year?
Approveit’s journey began well before last year, but in the past year, we’ve made significant progress. We closed our pre-seed round, raising $1 million, and expanded our work with over 50 customers, handling more than 100,000 requests across the United States, Australia, the UK, and New Zealand. We’ve maintained a strong customer retention rate of 96% and achieved net revenue growth of 358%.
Additionally, we were selected to join Techstars Boulder in October 2023, which opened up new opportunities and helped us advance to the next level.
Our mission is clear: to help businesses streamline approval and coordination processes, freeing them from time-consuming tasks. The positive feedback from our angels, partners, and customers confirms that we’re on the right path.
What can we hope to see from Approveit in the future?
Approveit began as a simple Slack App and has grown into a comprehensive workflow management platform over the past three years. In the future, you can expect Approveit to continue evolving, with more advanced features and integrations that make workflow automation even more accessible for businesses of all sizes.
We believe that every business, regardless of its size or industry, should have access to powerful workflow automation tools. Our goal is to expand Approveit’s capabilities, making it easier for companies to stay compliant with regulations while improving efficiency and decision-making. We plan to keep enhancing our platform, adding features that cater to the needs of a wide range of businesses, from small startups to large enterprises.
Our focus will remain on creating a user-friendly experience that helps teams work smarter, not harder, by automating repetitive tasks and streamlining approvals. We’re committed to making workflow automation accessible and compliant for all, ensuring that businesses can focus on what really matters – growing and succeeding.
