Brooklyn, New York-based online platform Butterfly has raised $2.4m in seed funding. The company provides real-time leadership coaching. The company is co-founded by David Mendlewicz, Simon Rakosi, and Marcus Perezi-Tormos. They provide a personal leadership coach that turns employee feedback into customized leadership training for managers at every level. The real-time feedback program allows users to share feedback with a library of surveys, with dedicated control room addresses and monitored trends across entire organizations.
Seed funding came from Daphni, Tectonic Ventures, Precursor Ventures, and some other angel investors, with intent to expand effective leadership/corporate trainings. David Mendlewicz mentioned that “The gold standard for training is a compressed quarterly or yearly training. This tends not to work because it’s 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. We’re focusing on content that managers can take advantage of short and conversational”.
The company has several top businesses onboard like Citibank, Ticketmaster, and Coca-Cola, usually with contracts reaching 50 percent or more of the addressable workforce. Most of their content comes from third parties, and the rest of the content is indexed and reframed. The company can work more towards generating interesting content and managers can develop beneficial tools.
Mendlewicz added that the gold standard for training is a compressed quarterly or yearly training. Butterfly does not target in terms of content or timing. Instead, they monitor team feedback and use machine learning to show brief, easy tips to managers via a chatbot named Alex to help improve outcomes.
“We’re focusing on content that managers can take advantage of short and conversational,” Mendlewicz said.
“Younger workforces thrive on more feedback,” said Charles Hudson, an investor in Butterfly from Precursor Ventures. “You need a mechanism for delivering feedback to them in a way that works.”