- Elate announced it raised $4.9 million in funding. These are the details.
Elate – a cloud-based strategic planning software – announced its oversubscribed Series A funding round of $4.9 million led by enterprise startup investor WestWave Capital. Co-founded by Chief Executive Officer Brooks Busch and Chief Operating Officer Abby Parker and enjoyed by Strategy and Operations Leaders at companies like Seismic, Buildertrend, and Thornburg, Elate enables companies to connect long-term vision with tactical execution in a simple, intuitive way.
Elate’s strategic planning solution and all-in-one platform help businesses define strategies and track execution across disparate teams. And going beyond the traditional objectives and key results (OKRs) framework, Elate’s platform guides leaders through a strategic planning process, providing recommendations and best practices to execute at the highest level and removing internal siloes to maximize transparency organization-wide. So Elate customers are able to build, deliver and report on their strategy more quickly and efficiently.
WestWave Capital led the Series A funding round with additional new investment from The Pritzker Group Venture Capital, Hyde Park Angels (HPA), and Capital Midwest Fund. And Elevate Ventures also made a significant follow-on investment in the round along with continued participation from Serra Ventures, M25, and the Flywheel Fund. The funding will be used to invest heavily in product development as well as support current and future customers through an expanded go-to-market strategy.
KEY QUOTES:
“Elate is redefining the way companies go about strategic planning by simplifying the experience for employees and surfacing insights for strategy and operations leaders that show results in a measurable way. With this investment and the team we have in place, I am more confident than ever Elate has the ability to become the most dynamic and comprehensive platform to drive the future of strategic planning forward.”
— Brooks Busch, Chief Executive Officer at Elate
“The positive impact of introducing a solution like Elate to help amplify our strategic planning process has been felt throughout the company. Elate has helped Thornburg move towards a proactive approach to how we ensure alignment across teams and justify the time and resources we commit to delivering on strategic initiatives.”
— Jeanene Bettner, Managing Director and Chief Operations Officer – Distribution at Thornburg Investment Management
“In just 18 months since launching their platform, the trajectory, direction and vision of Elate speaks volumes to how they are driving strategic planning and engagement in a new way. From our own experience, many of the platforms in this space have failed to connect vision with execution to enable a proactive, dynamic strategy. Elate is leveraging innovative tech combined with expert guidance and direction to solve this pain point and serve world-class strategy and operations leaders.”
— Warren Weiss of WestWave Capital
“We view Elate’s solution as a long-term investment for much-needed change in the strategic planning space. As a former operations executive, Elate is superior in that it provides an end-to-end solution to create a more dynamic planning process and makes it easier for leaders to capture where they are currently at, along with what they need to grow successfully.”
— Matt Tyner, Partner at Elevate Ventures
