Photo was created by Webthat using MidJourney
Groopit Raises $3.5M to Support Go-to-Market Strategy
Groopit, a Seattle-based employee data crowdsourcing startup, has raised $3.5 million in funding to fuel its go-to-market efforts and further develop its platform for collecting and sharing business insights.
Groopit’s Data Crowdsourcing Model: Harvesting Real-Time Insights
Similar to Waze, Groopit enables business leaders to gather real-time information and insights from employees in the field, adopting a “crowd solving” approach that aims to harness collective intelligence for better decision-making.
Groopit’s Plans for Generative AI Tools
With the new funding, Groopit intends to introduce generative AI tools that combine automated intelligence with real-time human intelligence, offering unique capabilities yet to be explored in the market, according to CEO Tammy.
Leadership and Differentiation: Founders with Microsoft Background
Groopit was founded in 2018 by CEO Tammy, who brings over 20 years of experience from Microsoft, and CTO John Vert, another former Microsoft leader. The startup differentiates itself by pioneering the “crowd solving” model and providing a dynamic platform that integrates with various collaboration tools.
Groopit’s Enterprise Customers and Revenue Growth
Groopit counts Home Depot, Guidant Financial, Mosaic, and Stuckey’s Corporation among its customers. The company aims to achieve $1 million in annual recurring revenue by the following year, as enterprises recognize the value of data-driven insights for revenue growth, cost reduction, and competitive advantages.
Funding and Investors Backing Groopit’s Vision
Following a previous funding round of $1.75 million in 2021, Groopit has raised an additional $3.5 million in funding. The recent round was led by WestRiver Group, with participation from existing investors such as Cercano Management, Tapas Capital, Cascade Seed Fund, and others, while previous backers include Ascend.vc and Voyager Capital.
CLICK HERE TO READ MORE ON WEBTHAT NEWS
