Slack Sentiment analysis startup raises $12M as WFH drives demand

HRTech Cube

4 years ago

Aware, the leader in collaboration-first governance, risk and people insights, announced a $12 million Series B investment today.

Aware, the only comprehensive AI solution for governance, risk, compliance (GRC) and insights for leading digital collaboration technologies, is thrilled to share it recently closed a $12 million Series B equity investment. The round was led by New York-based Spring Mountain Capital with participation from Blue Heron Capital and Allos Ventures.

With the massive influx of remote work due to the coronavirus pandemic, platforms like Slack, Microsoft Teams and Workplace from Facebook are suddenly top-of-mind for organization leaders across the globe. Purpose-built for collaboration, Aware offers a unified view across many of these tools. Aware’s platform provides AI-enhanced controls and governance capabilities for the nuanced conversation data set that lives within these communication tools. Additionally, Aware continuously enriches the conversation data that flow through the tools with proprietary natural language processing (NLP) and AI models, providing organizational value and insights such as ongoing employee sentiment and commonly discussed themes.

We’re excited to partner with investors who truly understand our space and the opportunity,” said Jeff Schumann, CEO and Co-Founder of Aware. “The use of enterprise collaboration and communication tools is only increasing with the influx of remote work. We see an opportunity to provide necessary controls and to derive incredible business insights using our proprietary AI.”

The Aware platform works behind-the-scenes to address stakeholder requirements for governance and insights related to these tools, without disrupting the user experience. Aware’s solutions—including archiving, monitoring, DLP, eDiscovery, bi-directional retention and legal holds— address common challenges that legal, compliance, information security and IT departments face. As a result, the comprehensive platform reduces the total cost of collaboration ownership.

Aware is uniquely positioned to tackle today’s remote-work-first world with the team’s extensive background in understanding digital conversations,” said Jamie Weston, Managing Director of Spring Mountain Capital said. “Aware solves an immediate risk and compliance need, but also has an incredible vision for the future. We’re thrilled to partner with Jeff and team on this next stage of the company.
Aware was founded in 2017 and quickly penetrated the enterprise market by securing high-profile customers across the globe including Wipro, AstraZeneca, Sun Life Financial, Farmers Insurance, Memorial Health System and British Telecom. The investment will accelerate the company’s go-to-market efforts, increase partnerships, grow Aware’s integration ecosystem and support ongoing product research and development.

Financing also includes participation from by existing investors Draper Triangle Ventures, Ohio Innovation Fund, JumpStart, Rev1 Ventures and JobsOhio.

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