11 Feb, 2022, 09:00 ET
INDIANAPOLIS, Feb. 11, 2022 /PRNewswire/ -- Today MetaCX unveiled the Business Value Network, a platform that enables businesses to establish persistent digital connections with other businesses in their ecosystem—customers, vendors, and stakeholders—to manage the expected value from these relationships. Unlike traditional enterprise software that a company buys to automate internally-focused, transactional processes, the Business Value Network is a platform companies join, as equals, to connect their externally-focused value chain.
The Business Value Network is built around a new computing paradigm broadly labeled as the metaverse. For the business world, the metaverse promises a future where collaboration is possible with any collection of companies through persistent digital spaces that are enabled by a single digital identity that is interoperable across all of a company's relationships and technology investments.
"The evolution of B2B SaaS is reaching the end of its innovation cycle, and exciting new ideas are emerging that promise to connect businesses in powerful new ways." says MetaCX Co-founder and CEO, Scott McCorkle. "Where the last twenty years have seen steady progress on internally-focused, transactional automation across every business function, the next twenty years will bring externally-focused automation of the value chain—how one business creates value for another business, and then how value flows across entire ecosystems."
Within the Business Value Network, companies are able to establish the expectation of value in their relationships, and measure the realization of value through signals, metrics, and milestones. The network creates a private, secure space for each member to instrument any application, system, or digital endpoint. MetaCX transforms this data into a real-time, comprehensive view of how companies are tracking toward the achievement of expected outcomes, a view that can be easily shared with stakeholders across a business ecosystem.
Companies can join the Business Value Network to manage both commercial and social value, such as improving collaboration with key customers, coordinating vendor efforts to achieve a key initiative, and aligning an ecosystem on important sustainability and diversity goals. Over 20 companies across healthcare, technology, manufacturing, and government have joined the Business Value Network's inaugural cohort to ensure the success of their most important commercial and social initiatives.
"As one of the largest health systems in the Southeast, Wellstar is proud of the impact it makes on the lives of those we serve," explains Dr. Hank Capps, Chief Information and Digital Officer of Wellstar Health System. "We believe strongly that collaboration and partnership are key drivers for exponential impact as we press toward the future of healthcare. Catalyst by Wellstar, our global digital health and innovation center, has partnered with MetaCX to better understand the value of collaborations in important and complex areas such as sustainability and team member wellness."
MetaCX was founded by former Salesforce Marketing Cloud CEO Scott McCorkle, and has to date secured $31.5 million in early funding from Upfront Ventures, High Alpha, StepStone Group, Panoramic, Engage, and Silicon Valley Bank. The most recent funding came from Engage, an innovation platform composed of category-leading corporations in the Southeast like UPS, Home Depot, Delta Airlines, and others that have joined forces to support startups building the future of the enterprise.
"The Fortune 500 are constantly looking to create new value and work more collaboratively with their best partners," explains Daley Ervin, Managing Director of Engage. "As a result, everyone is trying to get new initiatives to market faster, and MetaCX handles this impossible task by effectively aligning multiple stakeholders in a transparent space to create, build, and launch together in a shared ecosystem."
To learn more about the Business Value Network, visit https://metacx.com.
MetaCX has built the Business Value Network, a first-of-a-kind network that companies join to manage the expected value from their business relationships with customers, vendors, and other stakeholders. The Business Value Network is built around a new computing paradigm broadly labeled as the metaverse. For the business world, the metaverse promises a future where collaboration is possible with any collection of companies through persistent digital spaces that are enabled by a single digital identity that is interoperable across all of a company's relationships and technology investments. Founded in 2018, MetaCX has raised $31.5M to date from High Alpha, Upfront Ventures, Greenspring Associates, Panoramic, and Engage. To learn more, visit www.metacx.com.
About Catalyst by Wellstar
Catalyst by Wellstar is the first-of-its-kind global digital health and innovation center. Catalyst is partnering with consumers, along with the best and brightest across industries, to re-think, re-imagine, re-whatever-needs-re-ing to create big, bold leaps in delivering better healthcare. Visit Catalyst.wellstar.org to learn more.
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