Wegrow, a software platform that enables companies to share and scale business best practices, announced today that it has raised €7 million in a Series A funding round. Nauta led the round, with participation from Wille Finance and existing investors Shapr Ventures, Scalefund, VU Venture Partners and she1K.
Wegrow’s AI-powered platform solves a costly and widespread issue at large organisations – repeatedly trying to “reinvent the wheel”. Harvard Business Review estimated that Fortune 500 companies lose approximately $31 billion annually due to this inefficiency. Wegrow delivers synergies by breaking down the existing silos between different geographies, business areas and functions within a large group, enabling them to save time and boost profits by streamlining the collection, sharing, and reuse of business best practices. This value-add from Wegrow comes into sharper focus, notably given the recent announcement of Meta retiring Workplace.
“Whenever a team reinvents the wheel instead of re-using a proven best practice, they and their company waste time and money,” said Arnaud Sliwa, CEO and Founder of Wegrow. “Having spent 15 years in multinational corporations like Danone, Suntory, and General Mills, I was shocked to see how much time and money was wasted due to this. Our mission at Wegrow is to eradicate this problem, which affects any company operating from several locations.”
Wegrow’s proprietary rating system intelligently matches best practices to the right users at the right time in a secure environment, helping businesses save time and money while driving significant ROI (up to 30 times).
As businesses increasingly turn to AI to boost productivity, Wegrow’s approach stands out by placing people at the centre of the process and emphasises the importance of human expertise and collaboration in solving business challenges. Wegrow’s AI-powered solution offers answers to pressing business questions, such as “How can I solve this issue?” or “What best practices can help me achieve my goals this month?”
Through actionable and relevant recommendations, Wegrow drives real results for global enterprises. The Wegrow platform supports a rapidly expanding and diverse client base, featuring industry leaders from sectors such as food and beverage, technology, and pharmaceuticals, including Mondelez, Bayer, Campari, HP, Kraft Heinz, Nestlé, Henkel, and Suntory.
The new funds will allow Wegrow to expand its platform’s capabilities beyond marketing and sales, introducing customised AI-driven solutions for finance, supply chain, R&D, and human resources teams. Arnaud said, “Ultimately, three things matter: saving time, saving money, and making the process engaging. Each department has its own workflow, and our ability to adapt to these unique processes and deliver the appropriate best practice at the right time will set us apart in the future.”
Borja Breña, Partner at Nauta Capital, added: “Every company in the world is trying to increase productivity and profits and reduce inefficiencies and waste of resources. Wegrow enables large companies to achieve all of the above by connecting and curating their teams’ knowledge base. Their AI-assisted solution ensures maximum engagement and adoption across the organisation. We were impressed by how much value clients recognised they had obtained from using Wegrow and understood why many blue-chip companies are now Wegrow customers.”
Read the orginal article: https://www.eu-startups.com/2024/09/paris-based-wegrow-secures-e7-million-to-start-a-new-era-in-best-practice-sharing/
