Crowdbase Raises Seed Funding to Reinvent How Businesses Capture, Organize, and Improve Team Knowledge
QUEBEC CITY, Sept. 21, 2012 /PRNewswire/ - Crowdbase (www.crowdbase.com), a Canadian start-up that is reinventing how teams capture and organize knowledge, has secured $650k in seed financing from Real Ventures, iNovia Capital, and Martin-Luc Archambault (Bolidea) to accelerate product development and expand its team.
Capturing Team Knowledge
Crowdbase addresses the problem of dealing with the increasing amount of data flowing into a company that becomes lost in the unstructured clutter of user inboxes, notes and web history, or more importantly, lost when an employee leaves.
Crowdbase allows teams to easily share questions, answers, notes, and Web links in a private social network, and then intelligently structures that data into relevant topics and pages. Unlike solutions such as corporate social networks in which content quickly becomes overshadowed by newer information, Crowdbase's solution enables critical knowledge to be better organized, searched, and shared, making businesses work far more productively.
"Building a limitless pool of collective knowledge that can be highly organized and retrieved at any time in the future makes organizations significantly more efficient. As the amount of data grows, so will the need for Crowdbase," said Chris Arsenault, Managing Partner at iNovia Capital.
Albert Dang-Vu, Crowdbase's CEO, added, "Businesses today are still sharing information using e-mails and status updates. Because of the quantity and speed at which information arrives, it is extremely difficult for people to know what in fact is even relevant. With this increasing amount of unstructured information, critical knowledge is eventually lost. Businesses are struggling to keep up with this new reality and are seeking an effective means to more efficiently share meaningful knowledge within an organization. This is the exact challenge Crowdbase is addressing with its new social knowledge platform."
Organizing and Improving Team Knowledge
Crowdbase features a proprietary technology that analyzes social interactions and information collected by each user or team. Crowdbase then builds a knowledge-graph and interest-graph for each individual's private group. By better understanding each member's expertise and interests, Crowdbase can create a highly personalized discovery and learning experience for each user.
Dang-Vu also noted, "In a world where employees are more transient than ever, it is increasingly critical for businesses' long-term survival to attempt to retain people's knowledge and ensure it is readily accessible in one central "team brain". Knowledge transfer and learning among new and existing employees is a key element in the Crowdbase platform."
To request access to Crowdbase's limited beta release, please visit www.crowdbase.com.
Crowdbase (www.crowdbase.com) was founded in 2011 by a team of search, machine learning, and user experience engineers. Its product focuses on social knowledge sharing, collective curation, and discovery. The Crowdbase technology analyzes the knowledge shared within a group and personalizes the learning experience for each of its members based on his or her interests.
About iNovia Capital
iNovia partners with exceptional entrepreneurs to build successful companies in high-growth sectors. The team is comprised of entrepreneurs and sector experts focused on Mobile, Internet and Digital Media. iNovia has $275M under management across three seed and early-stage funds. For more information, visit www.inovia.vc or follow iNovia on Twitter at www.twitter.com/iNovia.
About Real Ventures
Real Ventures (www.realventures.com) is a seed venture fund based in Montreal that invests alongside great entrepreneurs from idea to exit. We like to be the first money behind great teams and companies in the Web, mobile, SaaS, e-commerce, gaming, and digital media sectors. The team behind Real Ventures has over 67 years of combined experience in starting, funding, and growing companies.
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