ThinkTank Raises $20m
Denver, CO, October 6th 2015
ThinkTank, Inc., the leading provider of digital workplace collaboration software, is pleased to announce that it has raised $20m Series A funding from existing investors, including AP6, the Swedish pension fund, and from new investor Amadeus Capital Partners. ThinkTank will invest the new funds in sales and marketing resources that will further enhance its current triple digit growth trajectory, and in R&D personnel, to keep pace with customer-driven innovation.
Built on the premise that prioritized employee engagement, collective intelligence and structured work contributions generate better strategic outcomes, ThinkTank is relied upon by Global 2000 clients to generate the best results from their teams. Its “4th Gen Collaboration” product enables customers to gather input from many participants, in real time and wherever they are based, so that the best ideas can be curated and the impact and feasibility of each one assessed. Once a group has established priorities, ThinkTank can assist in assigning and managing tasks and deadlines.
Most collaboration products focus on enterprise social networking, teamwork facilitation or file sharing. ThinkTank extends the strategic value of these technologies to the upper levels of an organization, removing the political, psychological, cultural and physical limitations that impede traditional employee engagement, the filtering and prioritization of employee ideas, and the decision making that stems from such innovation.
In the past 12 months, ThinkTank has signed global deals with two of the largest consulting organizations in the world, and three of the largest financial institutions. Consulting firms use ThinkTank to accelerate and enhance client engagements and to deliver better results more quickly. Enterprise clients use ThinkTank to engage and align divisions and geographies on large-scale strategic initiatives, while creating a more engaged, inclusive and passionate work environment. Specific applications of the product include strategic planning, budgeting and forecasting, change management, risk mitigation, Big Data implementation planning, Six Sigma planning, HR on-boarding and marketing campaign ideation, among others.
Matt Wenger, ThinkTank’s CEO said: “For years, the largest organizations in the world have been promoting ThinkTank’s ability to fundamentally improve their businesses, cultures and strategic planning processes. I’m pleased that the market for our technology and approach has become mainstream, and that we’re seeing the demand that afforded us the ability to grow at an inordinate trajectory over the past several years. Attracting capital from a high profile institutional investor like Amadeus is a testament to this dynamic and I’m thrilled to have them on board to help us take the company to the next level.”
Mikael Johnsson, Amadeus Venture Partner and newest member of the ThinkTank board, added: “ThinkTank offers a new way for businesses and institutions to capture the collective input and experience of diverse groups of people, in order to drive better outcomes for common business priorities. This is an exciting prospect and a massive market opportunity. We have been really impressed with the ThinkTank team, their innovation in structured collaboration, and the calibre of the customers they have already attracted.”
For further information, please contact
Chantal Ligertwood, PR for Amadeus, Chantal@ligertwood.net
Amadeus Capital Partners is a leading technology investor. Since its inception in 1997 the firm has raised over $1bn for investment and backed more than 100 companies in the software, mobile, internet, cyber security and medical technology sectors. The investment team is global (UK, Sweden, USA, India and South Africa), has deep experience in technology and invests in high-growth companies at all stages of development, from seed and early stage to pre-IPO.
Major businesses built by Amadeus include CSR (LSE:CSR), a connectivity, audio, imaging and location semiconductor company; Solexa, the developer of next generation genetic analysis systems, merged into Illumina (ILMN) to create the world leader in gene-sequencing technology, Octo Telematics, the global leader in insurance telematics services acquired by Renova Group; and Tobii (NASDAQ OMX: TOBII), the global leader in eye tracking.
For more information, please visit http://www.amadeuscapital.com