Today, we’re excited to announce the successful closing of our seed round investment of $2.5 million, which will be put to immediate use evolving our product and building out our team to support increased client and product demand.
Participating in the oversubscribed round are: Daphni (lead), Tectonic Ventures and Precursor Ventures. Angel investors include Laurent Schwartz, co-founder of ALTEN, a multinational technology and engineering consulting company and Brandon Evans, the founder of Crowdtap (representing FoundersGuild, a global founder investor group).
With the seed round, Marie Ekeland, co-founder of Daphni, will join Butterfly’s Board of Directors. Shareholders from previous rounds include Keith Teare, Founder of Accelerated Digital Ventures and co-founder of TechCrunch , and Jeremy Le Van, co-founder of Sunrise Calendar (acquired by Microsoft).
When we launched Butterfly, we set out to address a universal challenge facing organizations around the world: New managers lack training and support when it comes to soft skills and people development, leading to a palpable leadership gap that has contributed to unhealthy cultures at companies big and small.
The Harvard Business Review reports that most companies wait more than a decade to provide executive coaching in any form, and as we all know, that’s simply too late in a landscape where millennials are rising through the ranks faster than ever and people are increasingly leaving their jobs as a direct result of poor management.
We passionately believe that the secret to healthy work cultures is strong leadership, which includes managers at every level—not just those in the corner office. We also believe that emerging technologies, like artificial intelligence, can be a tremendous resource when it comes to helping HR teams shift their focus from talent support to talent development.
We’d like to take this opportunity to thank our team for all their hard work, especially during the past several months of growth, as well as our early partners and investors. We look forward to evolving our product and our team to shape the next generation of corporate leadership in the months ahead.