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Butterfly nabs $2.4M seed round to improve managers with targeted tips

Butterfly nabs $2.4M seed round to improve managers with targeted tips
From TechCrunch - October 6, 2017

Nobody likes corporate trainings. Nobody.

In fact, one of lifes puzzles that eludes me most is how a person could enjoy corporate trainings enough to spend their time designing and running them. Perhaps only with disdain for the status quo can a startup create something that people not only dont hate, but find helpful.

The idea for Butterfly, founded by David Mendlewicz,Simon Rakosi andMarcus Perezi-Tormos, originated from poor experiences the young managers had when receiving leadership training. The startup is announcing a $2.4 million seed round today from Daphni, Tectonic Ventures, Precursor Ventures and a number of angels with the hopes of making things better.

Mendlewicz told me that the gold standard for training is a compressed quarterly or yearly training. This tends not to work because its not targeted in terms of content or timing. Instead, Butterfly monitors team feedback and uses machine learning to push brief, digestible tips to managers via a chatbot named Alex to help improve outcomes.

Were focusing on content that managers can take advantage ofshort and conversational, Mendlewicz added.

The startup is moving its focus to Fortune 500 companies. The team has already managed to onboard 20 large companies, including Citibank, Ticketmaster and Coca-Cola,with paid contracts reaching 50 percent or more of the addressable workforce at most customers.

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