For those readers interested in a more traditional funding announcement, please find our official press release here.
We are thrilled to announce that we have raised our first outside funding round from a great group of investors. Thanks to everyone who has put their trust in us to improve the speed, quality, and control of organizational restructurings. Jeremie Berrebi and Xavier Niel of Kima Ventures deserve special thanks for leading this investment round. Their steadfast support and advice has been invaluable.
We would also like to welcome the members of our newly created board of directors to the BrightArch team. They all bring a unique set of insights to our business and to the challenges of managing workforce change. With their support and advocacy, we’re looking forward to bringing a simple message to organizations: the process of workforce change doesn’t have to be painful anymore.
There are many opportunities to better serve organizations during a merger, restructuring, spin-out, or downsizing. With our OrganizationWeaver software, we’re ready to capitalize on those opportunities by helping clients design a detailed new organization, gather information from employees and unions, and optimally make and track final staffing decisions.
We asked our investors and new board members to share a quick comment about their perceptions of OrganizationWeaver and the impact it can have. See all of their comments below.
Jeremie Berrebi, Co-Founder of Kima Ventures and lead BrightArch investor, said “We’re very pleased to have BrightArch join our group of portfolio companies. Their software brings an entirely new set of capabilities to large workforce changes. Change management no longer has to happen in a black box. It can happen transparently, socially, and much more effectively.”
Lars Groth, Professor at The University of Oslo and BrightArch board member, said “I have spent decades studying IT solutions to organizational problems. I was intrigued from the start by BrightArch’s elegant approach to the very complex problem of fitting thousands of people into new jobs quickly. “
Magnus Sjöqvist, Former Accenture Sweden CEO and BrightArch board member, said “Over the years, I have seen many organizational restructuring projects spend vast amounts of money and effort merely managing decisions. I believe that OrganizationWeaver can significantly reduce the money and effort needed to achieve a quality organizational restructuring.”
Nigel Carter, Former International Director of HR at Credit Agricole and BrightArch board member, said “The task of adapting an organization to new market realities is unending. I see a particular need for a tool like OrganizationWeaver within the finance and insurance industries, as well as in the UK public sector.”
Fredrik Hillelson, CEO of Novare Human Capital and BrightArch board member, said “OrganizationWeaver provides the tools that HR departments need to take a more strategic approach during workforce changes in order to increase the speed and accuracy. I’m pleased to join BrightArch’s board and help raise awareness of this powerful tool within the HR community.”
Thomas Kirsebom, Country Manager of Navigio in Norway and BrightArch board member, said “Anytime that a company can harness centralized databases, algorithms, and in-depth reporting to solve a complex business problem, great efficiency improvements can be realized. I think OrganizationWeaver fulfills a market need to bring these capabilities to the traditionally turbulent processes of organizational change and merger integration.”
Mats Hanson, former VP at Volvo, former Director of Business Development at IBM, and BrightArch board member, said “Having personally ran several large M&A projects, I know first-hand the challenge of keeping everything on time. It would have been great to have a solution like OrganizationWeaver to speed up and improve the design and staffing of the new organization.”