DENVER, Aug. 25, 2015 /PRNewswire/ -- Pinsight™ (www.pinsight.biz), a performance-management software-as-a-service startup, launched the first technology capable of accurately "test driving" and predicting a leader's ability to execute an organization's specific strategies.
"Pinsight™ is the first fully automated, cloud-based, simulation assessment solution," explains Martin Lanik, CEO of Pinsight™. "It utilizes challenging, yet highly realistic, online workplace simulations, incorporating live web-cam role plays with certified Pinsight™ assessors, and automatically generates accurate, insightful and practical leadership assessment reports that are tied to clients' own strategies – a huge advance over the traditional, very expensive 'technology enhanced' assessment center model."
Pinsight™, which has developed up to this point using internal cash flows, has raised $700,000 in its first private placement, primarily to invest in new sales and marketing initiatives. An initial $500,000 offering was oversubscribed and a second offering of $200,000 was fully allocated within just two-weeks.
"I was immediately attracted to the opportunity to invest in Pinsight™," says Christine Van Velthoven, Managing Director of CPM NV in Belgium. "Pinsight's™ technology is so disruptive that talent-management consultants will need to rethink their business models. I am now refocusing a portion of my consulting business around Pinsight™ and expect to benefit as both a sales partner and investor."
Pinsight™ combines big data, proprietary algorithms and assessor ratings to accurately identify the potential of managers, directors and executives to execute clients' chosen strategies. The technology helps organizations identify whether their leadership teams and individual leaders are ready now, or will be ready in six months or twelve months with recommended development assistance. Online assessments can be scheduled globally by clients in any one or more of 10 languages and are accessed through leaders' own PCs.
According to Lanik, "By combining state-of-the-art technology and data analytics with the best validated assessment models, we have cut the cost of simulation assessments by 80%, making more accurate and useful assessments accessible to a much larger marketplace. Our new technology and fresh approach helps organizations achieve strategic advantage by identifying, developing and retaining superior talent."
The company was advised by Miles Baldwin, President of Corporate Development LLC, who helped Pinsight™ devise and implement its new development strategy and fund raising program.
Global Assessor Pool LLC (dba Pinsight™) is an early-stage software-as-a-service provider, based in Denver, Colorado. Pinsight™ is managed on a virtual basis, has more than 50 employees and independent contractors, and is represented in more than 10 countries. The company's founder and CEO, Martin Lanik, is an industrial/organizational psychologist, with a PhD from Colorado State University.
About Corporate Development LLC:
Corporate Development LLC is a Denver-based strategic development consultancy that helps entrepreneurs and shareholders take their established or early-stage businesses to the next step. Its President, Miles Baldwin, has helped create substantial shareholder value and several significant, successful business franchises.
Martin Lanik, CEO, Pinsight™
Miles Baldwin, President, Corporate Development LLC