- Zeitworks announced it has exited from stealth mode and raised $4.5 million in a seed round of funding led by Madrona Venture Group
Zeitworks announced it has exited from stealth mode and raised $4.5 million in a seed round of funding led by Madrona Venture Group. The investors in this round include JAZZ Venture Partners and Spencer Rascoff, co-founder of Zillow and dot.LA.
This round of funding will enable the building of engineering and product teams as Zeitworks is refining its product and bringing it to market. And the product is currently only available to select pilot customers. And Zeitworks is developing a SaaS platform that utilizes machine learning to discover, analyze, and improve customers’ business processes without interrupting users or requiring system integrations.
The founding leadership team of repeat entrepreneurs Ryan Windham, Ben Elowitz, and Mathew Holloway have all experienced the pain of traditional process improvement projects in their careers. And by launching Zeitworks, the group was on a mission to democratize process improvement and make work more rewarding for employees.
Utilizing proprietary technology being developed by the company, Zeitworks discovers and measures business process execution step-by-step through the paths workers take in the course of ordinary work. And with cloud-based data processing and machine learning, the solution learns from human behavior to find insights and improvements without disrupting users or IT staff, and saving countless hours of analyst observations and workshop sessions. This is particularly valuable in the current economic environment when companies do not have the time or money to hire consultants or take teams away from their work.
Key Quotes:
“Now more than ever, businesses are under enormous pressure to be more efficient, but the work that teams do has been a black box; impossible to measure, let alone improve. With our innovative software solution, we can shine a light on all the work that gets done by teams within the enterprise — to not only show the bottlenecks but also drive improvements in real-time.”
– Zeitworks CEO Ryan Windham
“The current method of business process improvement is ripe for disruption. It interrupts workflow, is expensive in terms of dollars and time and doesn’t empower employees to be part of the process. Zeitworks changes the game to use real-world data to find improvements for leaders and teams.”
– Executive board member Ben Elowitz
“We’ve seen in category after category that bringing insights and actionable improvements to the enterprise drives bottom-line value. We are excited to back Ryan and the team as they combine the power of machine learning with a low-code approach that enables automation of business-critical tasks across hundreds of billions of dollars of enterprise workforce expenditures.”
– Len Jordan, managing director of Madrona Venture Group — who is joining Zeitworks’ board
