Groopit Raises $2M Pre-Seed Round to Help Business Leaders Manage Distributed Workforces
Led by Ascend.VC, backers include Voyager Capital and Vulcan Capital; Former Microsoft executive's Seattle startup helps leaders get, share and use real-time data from frontline employees
SEATTLE, Oct. 27, 2021 /PRNewswire-PRWeb/ -- Groopit, an enterprise SaaS solution that makes it easier for business leaders to collect and share real-time data from frontline employees, today announced it has raised $2 million in pre-seed funding led by Ascend.VC and a syndicate of investors including Voyager Capital and Vulcan Capital. The company, whose software is already being used by sales teams in the financial, manufacturing, and retail industries, will use the funds to scale Groopit's marketing and sales operations and further the development of its product roadmap.
"With the proliferation of enterprise SaaS tools, leaders have more data than ever. But transforming that data into actionable insights is still highly manual," said Kirby Winfield, founding general partner of Ascend.VC. "Groopit is the first company we have seen to meaningfully address the $30B market where data sharing meets collaboration. Tools like Excel, Smartsheets, Airtable collect data, while tools like Slack and Teams are for collaboration. Groopit bridges this gap, providing the ability to share real-time data across teams and organizations."
Business leaders are constantly gathering data from frontline employees and using multiple tools to do so. Traditional data sharing methods are time-consuming and inefficient - sharing in meetings, huddles, emails, texts, phone calls, channels, shared spreadsheets, surveys, and more -- leaving data everywhere and nowhere at the same time. Groopit streamlines data sharing into a single workflow, making it easy for frontline employees to share data in three taps to yield high-quality and quantitative data instantly. With the ability to integrate Groopit into existing enterprise systems, like CRMs and executive dashboards, Groopit helps leaders gain real-time insights into what is happening across their extended teams.
Groopit was co-founded in 2018 by Tammy Savage and John Vert. As a former Microsoft executive for over two decades, Savage became obsessed with understanding what leaders need to accelerate business results, especially when leading distributed and cross-functional teams. Out of that obsession, Groopit was born.
"Groopit helps leaders get frontline employees to share data. As a result, leaders are cutting meeting time in half and shifting conversations to tackle more strategic issues," said Tammy Savage, co-founder and CEO of Groopit. "The shift is possible because frontline employees share data in real-time. Groopit works a bit like Waze (yes, the traffic navigation app), but for business. In Waze, drivers share traffic accidents. In Groopit, frontline employees share key business events with just a few quick taps. Groopit offers multiple use cases to get frontline employees sharing data about sales, products, customers, competitors, and strategic corporate initiatives."
The company has raised a total of $3.1 million to date from investors. In addition to Ascend VC, Voyager and Vulcan, other investors in this round include Tapas Capital, Community Access Fund, Cascade Seed Fund, Dataframe Ventures, Bluesky Equities, Journey Venture Partners, SWAN Venture Group, and multiple angel investors.
"Data at the edge of a business is often the hardest for companies to capture and act-on because it is messy and complex," said Rob Eldridge, managing partner at Tapas Capital and former CFO of Asia and Emerging Markets at Amazon.com. "Groopit transforms structured and unstructured inputs into actionable insights providing leaders the power to take advantage of edge intelligence."
Groopit is available as an iOS app, Android app, Slack app, or on any web browser.
About Groopit
Groopit is an enterprise Saas solution for leaders. It's the ultimate way to get, share and use real-time data from frontline employees. The company is creating and leading a new product category called crowdsolving, which combines real-time data collection and real-time data sharing to deliver game-changing business results. The company was founded in 2018 by Tammy Savage and John Vert. To learn more about Groopit, visit https://groopit.co/.
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SOURCE Groopit
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