Secures $7M in Seed Funding to Accelerate Market Adoption
NEW YORK, June 15, 2022 /PRNewswire-PRWeb/ -- Workstream.io, the comprehensive solution for streamlining your analytics workflow, today announced the public beta launch of its platform, which empowers organizations to derive optimal value from their critical data assets. In tandem with this launch, Workstream has secured $7 million in funding from various institutional and individual investors to accelerate market adoption, including a $4 million round led by Lerer Hippeau in Q2'22 with participation from Xfund.
"Workstream.io simplifies the convoluted process of managing data assets and workflows—ultimately making them more valuable to all of the organizational stakeholders that rely upon them for decision making," said Graham Brown, Partner, Lerer Hippeau. "We couldn't be more excited to partner with Workstream.io on their journey to help data-driven organizations reach their full potential."
New tools for digitizing, managing and analyzing data have the potential to fundamentally transform the way most businesses operate. Unfortunately, however, most data teams still find themselves grappling with a constant stream of one-off requests from business stakeholders and other types of last mile issues that consume lots of time without generating additional value. Workstream.io solves two major problems for data teams:
- Data asset management. Teams within larger organizations are increasingly working within heterogeneous technical environments in which there are lots of different tools and systems for analyzing and consuming data. Workstream.io helps to fill the gaps between those tools and systems by providing a centralized place to access and manage everything, allowing teams to consolidate data assets across various consumption tools and functions.
- Workflow facilitation. As the number of people and tools being used to create and consume analysis continues to grow, an element of sprawl tends to set in. When knowledge is scattered across various systems, assets quickly become fragmented. Workstream.io consolidates that knowledge and provides valuable context.
"Workstream.io boosts the productivity of data teams and key business stakeholders by streamlining the process of data asset management and helping to facilitate workflows," said Nicholas Freund, Co-founder and CEO, Workstream.io. "We reduce the time required of data teams to support ad hoc requests and issues and enable them to focus their time and energy on activities that add more long-term value. Simultaneously, we build cross-departmental usage of data by providing more consistency and context for business stakeholders across the organization."
Purpose-Built for Analytics Workflows Workstream.io has added a number of new and enhanced features to its public beta platform, designed to enable a streamlined workflow and higher level of collaboration for data teams:
- Knowledge Repository. Consolidates analytical assets into a single, collaborative workspace. Automatically categorizes assets and curates supported data products across the entire lifecycle, along with written descriptions, video explanations, and FAQs.
- Data Concierge. Provides business stakeholders with access to view curated content directly within the UI of the best-of-breed analytics and collaborations software tools that data teams are already using, as well as the ability to ask questions, leave feedback, and more.
- Asset Management. Provides insights about how data assets are being used and how they are impacting business decisions. Asset Collections populate automatically, based on labels and tags within the integrated products. The Asset History feature captures and presents a comprehensive list of interactions over time.
- New integrations. Workstream.io is natively integrated with dbt Cloud, JIRA, Looker/Google Workspace (Docs, Sheets, Slides, and Data Studio), Mode, Salesforce, Slack, Tableau, and Thoughtspot.
- Tracking Trends. Monitors new assets being created and tacks key metrics.
- SOC 2 compliance. Workstream.io has achieved SOC 2 Type II compliance in accordance with American Institute of Certified Public Accountants (AICPA) standards, indicating that they manage their data with the highest standard of security and compliance.
What beta customers are saying about Workstream.io
"Workstream.io gets our Customer Success Managers up to speed faster on core data assets, meaning we spend less time training and more time supporting our customers. It has really changed how the data and customer success teams work together."
- Joe Iantosca, VP of Customer Success at BetterCloud
"Workstream.io has really helped our team manage our BI tool and deepen our understanding of how stakeholders utilize the dashboards and looks we create. The concierge within our BI tool also allows our team to embed descriptions about the dash, and interact with stakeholders regarding any questions they might have. Our team's goal is to make impactful dashes and reports for our stakeholders, and Workstream.io helps us to do just that. Our team is excited for the upcoming features Workstream plans to integrate."
- Syd Atencio, Data Analyst at Willow Innovations
"Workstream.io has become a part of my regular workflow in working with people across Dropps. The experience is really seamless, making it easy to have conversations around our data and support our business users." – Avi Webberman, Analytics Engineer at Dropps
For more information about Workstream.io, please visit https://www.workstream.io/.
Workstream is a technology startup that helps data teams manage critical data assets. By integrating directly with the analytical tools data teams are already using in their regular workflow, Workstream.io empowers data teams and business stakeholders to use data assets in a more effective way. To learn more, visit https://www.workstream.io/.
Nicholas Freund, Workstream.io, 1 415-260-6094, [email protected]
Rebecca West, Helium Communications, 415-260-6094, [email protected]