Digital Asset DirectPhunware Inc
Contact Details Proactive Admin action@proactiveinvestors.com Company Website https://www.proactiveinvestors.com
April 14, 2022 10:56 AM Eastern Daylight Time
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News ReleaseIMA Financial
IMA Financial Group, Inc., a North American insurance brokerage firm specializing in risk management, insurance and wholesale brokerage, announced its Advanced Industries practice, demonstrating its commitment to serving industry sectors with increasingly complex risk profiles. The practice will offer new risk management services and insurance products to four key industry verticals: technology, life sciences, advanced manufacturing and digital risk. “As the industry evolves, so does IMA,” said Mark Ware, Advanced Industries National Practice Leader. “Our clients are at the forefront of change, thanks to remarkable innovation and courage, so we’ve assembled a robust practice of experts that can navigate today’s complex insurance market and look into the future to manage tomorrow’s increasing risks.” Ware, a 30-plus year insurance veteran and former chair of TechAssure, will oversee a team of insurance professionals highly experienced in sophisticated segments such as biopharma, cleantech, medical disposables and advanced manufacturing, along with unmatched expertise in the emerging segments of decentralized finance (DeFi), cryptocurrency and non-fungible tokens (NFT). “In the first two months of 2022, we added DeFi clients representing more than $250M in insurance premium,” reported Garrett Droege, IMA Financial Group Director of Innovation + Strategy. “We are responding to this success by offering a full suite of services to clientele with similarly complex risk profiles.” Droege, who joined IMA in 2021, has been seated at the intersection of technology and risk management for more than 15 years, including as Executive Director of TechAssure, an association of insurance brokers specializing in technology-related risks. His hire, and today’s announcement, are part of IMA’s long-term strategy to drive the future of insurance. In March, the company entered the metaverse with the digital ecosystem’s first insurance research and development facility and announced a partnership with The Institutes RiskStream Collaborative® to unlock the potential of blockchain in risk management and insurance. In 2021, it formed IMA Invest, a start-up-focused fund investing in insurtech, technology that solves problems for the trillion-dollar insurance industry. “We’ve taken bold steps,” said Ware. “But this is just the beginning of our efforts to protect the world’s most innovative companies and advance the industry.” About IMA Financial Group Based in North America, IMA Financial Group, Inc. is an integrated financial services company focused on protecting the assets of its widely varied client base through insurance and wealth management solutions. Because IMA is employee-owned, its more than 1,800 associates are empowered to provide customized solutions for their clients’ unique needs. Contact Details Alexandra Campbell +1 720-989-3530 Alexandra@centerreachcommunication.com Company Website https://imacorp.com/
April 14, 2022 10:19 AM Eastern Daylight Time
News ReleaseVelocity Global
Burgess joins as Chief Revenue Officer Brauner serves as Chief Marketing Officer Adds 35 years of combined experience growing tech companies Velocity Global, the leading provider of global talent solutions to work with anyone, anywhere, announced today it bolstered its leadership team with the addition of two experienced tech growth executives. Wade Burgess serves as chief revenue officer and brings more than 20 years of experience driving growth at digital and Software as a Service (SaaS) platforms. Greg Brauner joins the company as chief marketing officer to apply his 15 years of tech marketing leadership experience. “Our growth hits new scale coming off a triple-digit jump over the past year, and Wade and Greg bring experience and knowledge to take us to the next level,” said Ben Wright, Velocity Global founder and CEO. “They have experience scaling businesses and their significant contributions led to the successful IPO and ultimate sale of LinkedIn. Wade and Greg bring to the company significant domain expertise in the Future of Work industry. They’ve done it before, know what success looks like, and I’m ecstatic they saw our trajectory and want to go for that ride again.” Burgess joins Velocity Global to lead the worldwide Sales organization. He spent a decade at LinkedIn and was the global leader of LinkedIn Talent Solutions, growing the segment’s revenue from less than $50 million to $3 billion. He most recently served as chief revenue officer at Rev.com, and is an investor and advisor at several future of work and fintech startups including Karat, Gig Wage, and Wedge. "The results this team has delivered, and the pace at which it’s currently adding value caught my attention quickly,” said Burgess. “I’m inspired by the opportunity to accelerate that pace and scope to meet the demands of a truly global economy to work with anyone, anywhere." Brauner leads Velocity Global’s Marketing team and joins from the digital marketing company, Emotive. His career includes revenue leadership roles at successful SaaS and digital platforms including LinkedIn and Twilio, both of which he helped to take public. “Velocity Global is at the forefront of changing how the world works. The team is focused on building world-class solutions for employers and talent,” said Brauner.” I am extremely impressed by the team we have at Velocity Global and I’m excited to continue the mission of enabling employers and talent to connect and work from anywhere.” The company’s Global Work Platform TM seamlessly connects employers and talent worldwide through proprietary cloud-based talent management technology, personalized expertise, and unmatched global scale. Clients use its global Employer of Record (EoR) and Contractor Management solutions to onboard, manage, and pay talent with in-country and in-state compliance, payroll, and benefits. Both Burgess and Brauner are based in Austin, Texas as part of Velocity Global’s work from anywhere culture with employees in almost 50 countries across six continents. View Velocity Global’s leadership team here. About Velocity Global Velocity Global accelerates the future of work for anyone, anywhere, anyhow. Its Global Work PlatformTM simplifies the employer and talent experience through its proprietary cloud-based talent management technology, backed by personalized expertise and unmatched global scale. With talent solutions in more than 185 countries and all 50 United States, the platform combines global Employer of Record and Contractor Management to onboard, manage, and pay talent worldwide. Thousands of brands rely on Velocity Global to build global teams without the cost or complexity of setting up foreign legal entities or state registrations. Velocity Global was named a “Leader” in Global Employer of Record services by prominent analyst firm NelsonHall. Founded in 2014, the company has hundreds of employees across six continents. For more information visit velocityglobal.com. Contact Details Velocity Global John Hall +1 720-650-4348 news@velocityglobal.com Company Website https://velocityglobal.com/
April 14, 2022 07:01 AM Mountain Daylight Time
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News ReleaseIndustrial Defender
Industrial Defender, the leader in operational technology (OT) security, today announced the launch of Immunity by ID™, a new cloud-based offering that helps industrial security teams turn their OT asset inventory information into a risk-based vulnerability management program. The product is offered as a standalone solution or as an add-on within the Industrial Defender platform. Using current OT hardware and software inventory information from an asset visibility tool, CMDB or spreadsheet, this vendor-agnostic solution generates a prioritized list of vulnerabilities based on asset criticality and risk level, along with applicable patching data, to help keep critical infrastructure secure in the face of global cybersecurity threats. Immunity by ID is up and running in a matter of days, allowing users to begin their vulnerability management program immediately, and simple, transparent pricing lets them easily scale a subscription as they mature. “With the looming threat of a global cyber war, critical infrastructure organizations of all sizes are looking for straightforward solutions that rapidly deliver actionable intelligence to help them protect their essential systems,” said Peter Lund, CTO at Industrial Defender. “We created this tool to help companies better utilize the asset information they already have that may be nothing more than a data dump right now. Unlike other OT vulnerability management offerings on the market, ours is powered by an anonymized cloud, so as soon as a vulnerability is published, you'll know whether a device is at risk without waiting for the next software update.” Industrial Defender will be offering a free 14-day trial of Immunity by ID to qualified users at North American and European critical infrastructure companies through the end of May to support their efforts to shore up cybersecurity defenses. For more information, visit https://www.industrialdefender.com/immunity-by-industrial-defender/. About Industrial Defender Since 2006, Industrial Defender has been solving the challenge of safely collecting, monitoring, and managing OT asset data at scale, while providing cross-functional teams with a unified view of security. Their specialized solution is tailored to complex industrial control system environments by engineers with decades of hands-on OT experience. Easy integrations into the broader security and enterprise ecosystem empower IT teams with the same visibility, access, and situational awareness that they’re accustomed to on corporate networks. Learn more at www.industrialdefender.com. Contact Details Erin Anderson +1 617-675-4206 eanderson@industrialdefender.com Company Website https://www.industrialdefender.com
April 14, 2022 09:00 AM Eastern Daylight Time
News ReleaseAirly
Air pollution levels recorded across major European cities in March 2022 made for grim reading. Scientists at cleantech Airly reported on NO2 (nitrogen dioxide) and PM10 (particulate matter) elements of air pollution across European cities (full tables further below). The highest concentration of NO2 was recorded in Newcastle upon Tyne, a city in the north of England. And the highest concentrations of PM10 occurred in Spain (Malaga and Seville). The rise in air pollution was significantly influenced by a Sahara desert dust storm that traveled across Europe. The dust and other factors such as high pressure and lack of wind, meant that air pollution in southern and western Europe was slightly higher than in central Europe. Notably, the air in Portugal or Belgium was worse than the air in Poland or Romania. The new WHO standards are often exceeded In September 2021, the World Health Organisation (WHO) announced stricter standards on NO2 and PM10 levels. The new 24-hour PM10 norms were changed from 50µg / m3 to 45µg / m3 and NO2 levels were confirmed as 25µg / m3, previously as advisory level. There were several cities falling short of the new levels but two Spanish cities at the top of the list (Malaga and Seville) were above the daily safe levels of PM10 (45 µg / m3). Meanwhile, every city exceeded the safe daily average of NO2 levels (25 µg / m3). Effect on health Long term exposure to PM10 may lead to reduced lung function, the development of cardiovascular and respiratory diseases and increased rate of disease progression. Long-term exposure to Nitrogen dioxide may contribute to the development of asthma and increase susceptibility to respiratory diseases. Marcin Gnat, spokesperson at Airly commented: “This study confirms others which suggest that almost the entire global population (99%) breathes air that exceeds WHO air quality limits, and threatens their health. Although the number of countries and cities where air quality is monitored continuously is increasing, there is still a lack of such information in a great number of vulnerable sites. By knowing the exact pollution situation in their surroundings, local governments and communities are able to take appropriate steps to improve air quality, and then monitor the effectiveness of the actions taken”. NO2 Ranking: Newcastle upon Tyne - 44,6 µg/m3 (179% of WHO safe norm, 25 µg / m3) Naples - 42,4 (170%) Paris - 41,2 (165%) Antwerp - 35,9 (144%) Dortmund - 35,6 (142%) Zurich - 34,9 (140%) Stuttgart - 34,1 (137%) Munich - 33,5 (134%) Frankfurt am Main - 32,6 (130%) Hamburg - 32,0 (128%) Rotterdam [The Hague] - 31,8 (127%) Brussels - 31,2 (125%) Oslo - 30,5 (122%) Athens - 30,5 (122%) Sofia - 30,0 (120%) London - 29,4 (118%) Lyon - 29,2 (117%) Katowice - 29,1 (116%) Manchester - 28,9 (116%) Prague 29,7 (115%) PM10 Ranking: Malaga 56,1 µg/m3 (125% of WHO safe norm, 45 µg / m3) Seville 46,5 (103%) Belgrade 40,9 (91%) Katowice 40,5 (90%) Antwerp 38,3 (85%) Stockholm 37,2 (83%) Kraków 36,8 (82%) Stuttgart 35,4 (79%) Oslo 35,1 (78%) Wrocław 34,7 (77%) Leeds 34,3 (76%) Lisbon 34,0 (76%) Paris 33,9 (75%) Łódź 33,8 (75%) Poznań 33,7 (75%) Sofia 32,8 (73%) Zagreb 32,8 (73%) Thessaloniki 32,4 (72%) Rotterdam [The Hague] 31,8 (71%) Madrid 30,8 (68%) About Airly Using sensors, Airly provides accurate, ultra-local, predictive data for governments, media and businesses to tackle the issue of air pollution head-on. Airly’s platform acts as a warning system for pollution at street level and in real time with greater accuracy and at lower cost for cities & enterprises. Local councils and municipalities can start by monitoring air quality in real-time on an ongoing basis, locating sources of pollution and bringing forward policy that targets local pollution by reducing road traffic in the busiest, polluted places. Similarly, people need to make lifestyle choices that will benefit their air quality and environment. By choosing carsharing, cycling or electric scooters instead of cars will make a significant impact. Airly provides actionable insights about air quality with its AI-driven algorithms that predict air pollution for the next 24 hours with a verifiability of up to 95%. Airly gives customers across the globe an environmental intelligence platform by installing networks of sensors that track all the key pollution markers - particulate matter (PM1, PM2.5, PM10) and gases (NO2, O3, SO2 and CO). Contact Details Airly Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://airly.org/en/
April 14, 2022 07:13 AM Eastern Daylight Time
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News ReleaseZaraye
Karachi based business-to-business raw materials marketplace Zaraye raises $2.1mn in their pre-seed round from Tiger Global and Zayn Capital. Other investors include +92 Ventures, Alan Rutledge, Jack Rizvi, and current and former Careem employees holding key positions in their tenures. This is Tiger Global’s first pre-seed investment in Pakistan. Founded in late 2021, Zaraye helps manufacturing businesses procure raw materials and finance the working capital. It is currently serving clients across textile and construction industries, with over 300 partners and suppliers spread out in 20+ cities. Pakistan’s industrial manufacturing sector contributes to 20% of the country’s economy with a $35bn raw material market annually with raw materials contributing 60-65% of the total costs for the manufacturers. In conditions where net margins are thin, finding efficiency in costs becomes critical for these businesses to win orders and sustain against competition locally and globally. Additionally, SMEs have always found acquiring financing a huge battle for their businesses from financial institutions, and are forced to turn to informal markets with ~2.5x premiums. Ahsan Ali Khan, co-founder and CEO of Zaraye commented: “We aim to strengthen the backbone of the country’s economy by helping the entrepreneurs in finding avenues to optimize and scale. Zaraye will help our partners to compete locally and globally as they find more savings in time and money to create the best products. With the confidence of amazing investors in Zaraye, we are geared to supercharge our mission to reach millions of users”. Traditionally a manufacturer would connect with a handful of intermediaries or directly with the suppliers with a tedious process of going through multiple phone calls, and wait for them to furnish rates. This process is longer, tedious and brings very limited options for the buyers to make a decision. With Zaraye, buyers of raw materials can simply post their requirements for the required product and the relevant suppliers can furnish quotes in real time making the information for buying decisions vast and quick. At the same time, the suppliers can access consolidated demand volumes with the vast network of buyers on Zaraye’s platform. Faisal Aftab, Managing Partner & Co-Founder of Zayn Capital BitRate Fund commented: “Procurement in the manufacturing industry is a massive problem with similar models showing immense success in comparable markets. We believe in the Zaraye team and their capabilities in solving this problem in Pakistan. We’re super excited to be a part of their journey.” Zaraye is available across platforms with their iOS, android and web app. The platform helps buyers of raw materials connect with multitude of suppliers who furnish their quotes in real-time making the process faster and hassle free. Zaraye was founded by IBA class fellows Taha Iqbal Teli, Hashair Junaid Ahmedani and Ahsan Ali Khan who worked together at multiple instances throughout their academic and professional careers. Taha and Ahsan have been part of the tech ecosystem for the past 5 years with experience at giants like Careem and Swvl. Ahsan led Swvl’s Travel category for Pakistan in his last stint, while Taha led the TaaS product for Karachi before launching the Daewoo Adda, a logistics product for transportation’s leading player Daewoo. Meanwhile, Hashair after completing his post-graduate degree at the University of Bath, where studied with Taha he returned to Pakistan to join his family business in Karachi. Hashair soon found his passion in the hospitality industry introducing Czech and Levantian cuisine to Pakistan with two successful ventures while building an FMCG brand for imported coffee from Latin Amercia. Hashair Junaid Ahmedani, co-founder of Zaraye added: “Small and medium business owners have been trapped in a cycle of high competition and lack of financing options- Zaraye aims to help these businesses scale as they find the efficiencies in procurement and financing options to make better decisions for their businesses.” Taha Iqbal Teli, co-founder of Zaraye said “Our goal is to help these entrepreneurs focus on manufacturing and selling their products. Zaraye will handle the entire procurement process, all the way from getting quotes, assuring quality, delivering to their doorsteps with any after-sales assistance our partners might require. Our partners remain at the heart of all our endeavors and we believe this massive problem cannot be solved without a world class team. As we build great solutions for our customers, we are always on the lookout for great talent and I would encourage everyone who feels passionately about building solutions at scale that make lives easy and loved by customers to apply away.” Having worked together on multiple projects, the three came together to solve one of the biggest problems faced by the manufacturing industry in emerging markets. Hashair’s experience while working with his family business was critical in understanding the problems faced by the businessmen and how they operate. The team amalgamates context from legacy businesses and building modern solutions at scale. Zaraye has built a strong team with experience from Swvl, PWC UK chapter, Daraz and Louis Dreyfus and their tech team is led by Asif Ali, ex-CTO Cheetay. About Zaraye Founded in late 2021, Zaraye helps manufacturing businesses procure raw materials and finance the working capital. It is currently serving clients across textile and construction industries, with over 300 partners and suppliers spread out in 20+ cities. Zaraye is available across platforms with their iOS, android and web app. The platform helps buyers of raw materials connect with multitude of suppliers who furnish their quotes in real-time making the process faster and hassle free. About Tiger Global Management Tiger Global Management is an investment firm focused on public and private companies in the global internet, software, consumer,and financial technology industries. Tiger Global has been an investor in companies such as Facebook, Stripe, Uber, Coinbase, Byju’s, Instacart, LinkedIn, Nextdoor, Postmates, Quora, Spotify and others. About Zayn Capital Zayn Capital is an investment firm providing debt and equity financing to start-ups in Pakistan with occasional opportunistic bets in the region. It was founded by Faisal Aftab and Faisal Chowdhry who both serve as managing partners of the Venture Capital firm. Zayn Capital has made 20 investments with lead investments in Nayapay, Bagallery, Krave Mart and Bookme.pk among others. Their team is made up of seasoned executives, investors, founders, and operators who partner and support startups in Pakistan. For more information, please visit https://www.zayn.capital/ Contact Details Zaraye Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website http://www.zaraye.co/
April 14, 2022 07:00 AM Eastern Daylight Time
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News ReleaseYoodli
Yoodli launched its free platform to help people improve their speaking skills without the pressure of an audience. The technology, developed at the Allen Institute for Artificial Intelligence, provides real time analytics on your use of filler words, pacing, volume variation, and more. A demo video is available here. “Building your speaking skills is like training a muscle,” says Varun Puri, a co-founder at Yoodli. “The same way we warm up before athletic events, or calm our minds through meditation, we can train our bodies before we speak. At Yoodli, we think that speech preparation can be fun and stress-free. That’s why we’ve built daily AI powered drills to help people improve their impromptu speaking and interview skills.” The National Institute of Mental Health reports that public speaking anxiety affects 73% of people; overcoming this fear helps build self-confidence and empowers you to stand out amongst your peers. Think of Yoodli as a smart mirror. It provides judgment free, real-time analytics so that you can track measurable progress over time. And once you feel more confident, you can share your speeches with colleagues to get peer feedback directly through the platform. The process of preparing for a speech doesn’t need to be lonely! Yoodli has been used by a number of world-renowned experts such as Craig Valentine, winner of the World Championship of Public Speaking award. He says: “Yoodli saved me hundreds of hours by allowing me to easily collaborate with students. I use Yoodli with all my students and can’t imagine coaching without it.” Ed Tate is another World Champion of Public Speaking, and a regular attendee at Toastmasters International speaking events. He says: “Prepared speaking is my jam. However, I had not won our club’s impromptu speaking contest (called ‘table topics’) in years. Ever since I started using Yoodli, I’ve won ‘table topics’ at my Toastmasters club three times in a row.” Yoodli has an advisory team that includes TEDx trainers, speech professors at leading universities, and other World Champions of Public Speaking. Investors include Madrona Venture Group, one of the early investors in Amazon, and Microsoft co-founder Paul Allen’s Institute for Artificial Intelligence. Yoodli is now available for free on laptop and desktop devices at www.yoodli.ai. About Yoodli: Yoodli is a platform that provides AI powered feedback to help people improve their speaking skills without the pressure of an audience. Developed by former engineers and product managers from Google, Facebook, and Apple, Yoodli’s platform is built upon the belief that preparing for a speech can be fun and judgment free. Yoodli’s investors include Microsoft co-founder Paul Allen’s Institute for Artificial Intelligence and Madrona Venture Group. Contact Details Forrest Carman +1 206-859-3118 forrestc@owenmedia.com Company Website https://www.yoodli.ai/
April 13, 2022 09:00 AM Pacific Daylight Time
News ReleaseCSG
To envision, invent and shape a more future-ready world, CSG ® (NASDAQ: CSGS), a global leader in customer engagement, revenue management and payments solutions, has joined the United Nations Global Compact initiative — a voluntary leadership platform for the development, implementation and disclosure of responsible business practices. At the heart of the Global Compact is a conviction that business practices help the global marketplace be more socially and economically inclusive, and thus advance collective goals of international cooperation, peace and development. Guided by the Ten Principles of the UN Global Compact, CSG is focused on three core areas of change: community impact, environmental stewardship and digital inclusion. “As CSG dreams bigger, we not only have an opportunity but the responsibility to create even greater impact in the world,” said Brian Shepherd, CEO, CSG. “With guidance from the UN Global Compact, we are taking a principle-based approach to evolve our long-term business processes as we follow a path of purpose. By channeling the power of all, CSG is committed to help improve human rights and sustainability around the world. We can make a difference in the lives of our customers and our people by formally committing to the United Nations’ principles and rising to the challenge of doing the greatest good.” Corporate sustainability starts with a company’s value system and a principles-based approach to doing business. This means operating in ways that meet fundamental responsibilities in the areas of human rights, labor, environment and anti-corruption. Responsible businesses enact the same values and principles wherever they have a presence and know that good practices in one area do not offset harm in another. By incorporating the Ten Principles of the UN Global Compact into strategies, policies and procedures, and establishing a culture of integrity, companies, like CSG, are not only upholding their basic responsibilities to people and the planet, but also setting the stage for long-term success. “By aligning to the United Nations’ Sustainable Development Goals (SDGs), we have the ability to drive even greater economic impact towards a more sustainable and inclusive world,” said Cindy Parsons, executive director of social impact, CSG. “More than just doing business responsibly, CSG has the opportunity to design and innovate our products to help solve societal challenges and bring more balance to the world. We’re proud to come together with community-based organizations across the globe to create greater access and social progress for all.” Launched in 2000, the UN Global Compact is the largest corporate sustainability initiative in the world, with more than 15,000 companies and 4,000 non-business signatories based in over 160 countries. Visit CSG’s profile on the UN Global Compact website to learn more about our latest sustainability work. # # # About the United Nations Global Compact As a special initiative of the UN Secretary-General, the United Nations Global Compact is a call to companies everywhere to align their operations and strategies with Ten Principles in the areas of human rights, labour, environment and anti-corruption. Our ambition is to accelerate and scale the global collective impact of business by upholding the Ten Principles and delivering the Sustainable Development Goals through accountable companies and ecosystems that enable change. With more than 14,000 companies and 3,000 non-business signatories based in over 160 countries, and 69 Local Networks, the UN Global Compact is the world’s largest corporate sustainability initiative — one Global Compact uniting business for a better world. For more information, follow @globalcompact on social media and visit our website at unglobalcompact.org. About CSG CSG is a leader in innovative customer engagement, revenue management and payments solutions that make ordinary customer experiences extraordinary. Our cloud-first architecture and customer-obsessed mindset help companies around the world launch new digital services, expand into new markets, and create dynamic experiences that capture new customers and build brand loyalty. For 40 years, CSG’s technologies and people have helped some of the world’s most recognizable brands solve their toughest business challenges and evolve to meet the demands of today’s digital economy with future-ready solutions that drive exceptional customer experiences. With 5,000 employees in over 20 countries, CSG is the trusted technology provider for leading global brands in telecommunications, retail, financial services, and healthcare. Our solutions deliver real world outcomes to more than 900 customers in over 120 countries. To learn more, visit us at csgi.com and connect with us on LinkedIn and Twitter. Copyright © 2022 CSG Systems International, Inc. and/or its affiliates (“CSG”). All rights reserved. CSG® is a registered trademark of CSG Systems International, Inc. All third-party trademarks, service marks, and/or product names which are referenced in this document are the property of their respective owners, and all rights therein are reserved. Contacts: Tammy Hovey Global Public Relations +1 (917) 520-2751 tammy.hovey@csgi.com John Rea Investor Relations +1 (210) 687-4409 john.rea@csgi.com Contact Details Tammy Hovey +1 917-520-2751 tammy.hovey@csgi.com Company Website https://www.csgi.com
April 13, 2022 06:30 AM Mountain Daylight Time
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News ReleaseMesh
Employee performance management startup Mesh, today announced a $11m series A funding round led by RTP Global. The HR tech company co-founded by Gaurav Chaubey, Saurabh Nangia and Rahul Singh in 2020 is in full scale mode with revenues increasing 16-fold in just 2 years. Mesh, a performance management platform that makes it easy for employees to manage goals, share feedback, and run one-on-ones. Companies globally are forced to administer traditional performance reviews that rely heavily on top-down feedback. Mesh replaces this unhelpful archaic process by enabling transparency around goals, continuous feedback, and coaching conversations. “Traditional performance management tools were built for an era where companies were slow moving pyramids. Today, if you continue to drive only top-down performance reviews, your top talent will leave and as a business you’re likely to get disrupted very soon! Mesh helps modern companies scale a culture of real time performance and growth conversations across peers, managers and teams. Our vision is to enable 30 million people to achieve their full potential at work by 2030” remarked Gaurav Chaubey, Co-founder and CRO, Mesh. Recent studies* have shown that performance management is by far the most despised people process in companies (with an net promoter score of -60). A 2021 study revealed transforming and reinventing performance management as one of the 10 most impactful practices. However, a staggering 83% of companies admit they don’t use advanced people analytics from processes such as continuous performance management and employee experience effectively. Interestingly, those companies that leverage advanced people analytics are: more than 4 times likely to engage and retain employees than those who don’t, almost 8 times more likely to innovate effectively and more than 2 times likely to exceed financial targets. “When it’s done well, a continuous performance management approach motivates employees to not only accomplish their goals, but also to develop better relationships with their managers, grow and develop within the company, and excel at work that is most meaningful to them” commented Saurabh Nangia, Co-founder and CEO, Mesh. “In short, it can support a more human experience and we are here to enable this”. This funding round comes less than a year after its $5.1m seed round, taking the total funds raised to $16.1m. The new capital raised will primarily enable Mesh to focus on building a global team for further expansion in the US and APAC markets. Mesh is already working with a range of unicorn startups including Pipefy, Drip Capital, Groww, CRED and others. Madhur Makkar, RTP Global said, “Last year, we backed Mesh based on the strength and the vision of the team. Since then, the team has executed really well to not only onboard stellar customers but also delight users. Leading this round was a no-brainer for us and we are thrilled for this continued partnership as Mesh builds a distinctive brand around the future of work.” Mesh is a remote-first company that is committed to being that model organization, which its product helps its customers build. The US headquartered HRTech startup has grown to a team of almost 50 employees spread across four countries. In addition to benefits and offerings like equity ownership, unlimited and no questions asked time offs, learning allowances etc., all decisions and actions at Mesh are driven by their core values, L.O.V.E. - act with Love, nurture Openness, drive Velocity and think Exponential. Equipped with a multi-layered tech stack, the company has gained prominence across industries in Southeast Asia and the US, with upcoming plans to further expand in APAC and the US. Saurabh Nangia added: “We are delighted with the consistent support and appreciation we have received from our investors and early customers. Last year we solved for the key unmet needs of our customers. This year we’re excited to double down on enhancing user love and expanding further in global markets. We're building a truly multi-generational company that will continue to reimagine how people perform and grow in the ever-changing future of work.” Ends * Deloitte High-Impact Performance Management research study, 2018 * Josh Bersin Company About Mesh Mesh is an all-encompassing platform for performance management and employee engagement needs, making it easy for employees to actively collaborate with their employer in managing goals, receiving timely feedback, and advancing their careers. It was founded in May 2020 by Gaurav Chaubey, Rahul Singh, and Saurabh Nangia, with an extensive experience in human capital advisory and entrepreneurship. Currently, Mesh is used by 1,000+ teams across five continents, with clients including ShareChat, CRED, Groww, and Pipefy. Contact Details Mesh Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://www.mesh.ai/
April 13, 2022 08:00 AM Eastern Daylight Time
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