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Vancouver Tech Startup Swae Closes $750K Seed Financing Round, Led by Former Head of Engineering at Netflix
Monday, January 10, 2022
Vancouver, BC, January 10, 2022--(T-Net)--Swae, a Vancouver-based technology startup that provides organizations with an idea management and decision-making platform, announced today the close of a $750K CAD seed funding round.
Swae's end-to-end idea management and decision-making solution uses a proprietary process to turn voices into decision-ready solutions for organizations, delivering real value for all kinds of customers.
Over the past 12 months, Swae reported that the results from implementing its solutions for various clients included:
The funding will help the company expand its tech-stack, increase its feature offerings and integrations, and explore new areas of AI while aggressively ramping up its go-to-market and global presence, with the goal of servicing new clients in the North American and UK markets.
Soushiant Zanganehpour, Founder & CEO, Swae
"We're grateful to our investors - small and large - for helping us create a future where inclusion and bottom-up decision-making will be a source of competitive advantage", says Soushiant Zanganehpour, Swae's Founder & CEO.
"We have a shared vision of helping organizations dramatically improve engagement, source unrevealed solutions, and quickly adapt to changing external circumstances. Our thanks go to William Eisenman (his son Eugene and their Family Office), Global Market Enterprises, Tres Monos Capital, VentureSouq (Conscious Collective Fund), Cordelia Capital alongside many strategic angels and senior executives from Fortune 500 companies."
Swae has already implemented its platform with many forward-thinking organizations, which include LifeLabs, EMC Insurance, Etihad Airways, the United Nations, and Bosch.
"Given the circumstances [of Covid-19] that we couldn't get together as one team physically, Swae gave us the necessary tools to bring all of our teams together in one place to generate ideas, improve ideas collaboratively, and vote on the best ideas, to put forward some tangible and actionable outcomes from the process," said Haleh Bahrami, VP of Lab Operations, LifeLabs.
William Eisenman, the former Head of Engineering at Netflix, along with his son, Eugene, joined Swae's recent investment round as Lead Investors.
They also sit on Swae's Advisory Board, bringing a wealth of experience as executives and investors, specifically with scaling and growth of startups.
"It is imperative for all organizations to reflect on the importance of their workforce and company culture. The rise of employee activism, and recent, very public, examples have shown the demand for more purposeful cultures have grown louder and the adverse outcomes that arise when management fails to acknowledge such, can be detrimental", said William Eisenman, Former Head of Engineering at Netflix & Lead Investor.
The Swae team has built a powerful tech-enabled product to meet this "future of work" that is required while driving innovation at the same time. All by providing employees the opportunity to voice their ideas in a coherent and structured manner, bringing value that has been thus far overlooked to the fore."
About Swae
Swae is an idea management and decision-making platform that reveals solutions to problems directly from employees or stakeholder groups.
Founded in 2018, in Vancouver Canada, Swae's platform disrupts the traditional hierarchy found within large organizations and provides a transparent and inclusive hub for ideation and collaboration. The combination of collective intelligence, AI and anonymity provide the foundation for users to provide critical feedback, improve ideas and vote on which ones move forward.
Organizations around the world use Swae to brings all voices to the table so they can uncover and benefit from the untapped collective intelligence from within.
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