SAN FRANCISCO, CA--(Marketwired - October 25, 2016) - Adding to the growing evidence of the positive impact behavioral science has on enterprise performance, Cloverpop today announced it raised $6.2M in a Series A funding round led by TDF Ventures and True Ventures, with additional investments from Next Coast Ventures and private investors. This brings the total investment to date in the company to $8M. Cloverpop revolutionizes how modern work is done by fundamentally changing how companies make decisions. The new funds will be used to continue developing the Cloverpop product and scale sales and customer success capacity to support massive inbound enterprise customer interest in the breakthrough solution.
"The Cloverpop team has created a true game-changer: a smart enterprise solution that uses behavioral science to transform the decision-making process for modern business teams," said Steve Mankoff, General Partner, TDF Ventures. "We are proud to back their innovative vision and excited for a future with fewer meetings, faster decisions, and better results."
"Cloverpop's product captures the imagination of executives and managers, creating a future where decision making is meaningful and easy," said Jon Callaghan, Founder, True Ventures. "The team has shown enterprises how to use decision making to drive growth, innovation and engagement. We are excited to help build a great company with broad and lasting impact."
The Cloverpop software platform streamlines the decision-making process based on insights from behavioral science, forever improving the lives of managers and executives who spend their days trapped in endless meetings struggling with delayed decisions. The easy-to-use Cloverpop cloud app helps businesses make better decisions 2x faster with half the meetings and 100 percent visibility across the enterprise. Modern enterprises use software to run their most important processes -- with Cloverpop, the enterprise decision-making process finally gets the innovative software platform it always needed.
"As the chief executive of a public company, I lived the pain of meeting madness, delayed decisions and misaligned goals," said Mike Smerklo, Co-Founder and Managing Director, Next Coast Ventures. "We're investing because Cloverpop cuts to the heart of the matter -- how a company makes decisions determines success or failure. Today's CEOs need Cloverpop."
Early Market Validation
A study by Bain & Company found that decision effectiveness is 95% correlated with companies' financial performance. In recognition of this, Cloverpop modernizes and streamlines decision making. It takes the best from behavioral science, no PhD required, and puts it to work for teams executing across the enterprise. Cloverpop's decision-making platform scales from the C-suite all the way down to front-line managers, driving 20 percent better results, faster, with fewer meetings and greater buy in.
"Decision making is one of the central activities of business -- hundreds of billions of decisions are made everyday," said Stowe Boyd, well-known futurist, researcher, and editor-in-chief of workfutures.io. "Decision making sits at the heart of innovation, growth, and profitability, and is foundational to competitiveness. Despite this degree of importance, decision making is poorly understood, and badly supported by tools. Solutions like Cloverpop offer a way to move beyond the folklore and bronze age thinking that underlies decision making today, and to usher in a new approach that leverages cognitive science and modern collaboration practices, breaking with the past."
Cloverpop has already been adopted by medium to large companies across numerous industries including technology, professional services and even professional sports.
"Cloverpop is vastly improving our decision making process by streamlining how decision makers gather advice from the right people across our company, regardless of location or function," said Tim Masson, CEO of The Ian Martin Group, a leading technical staffing company. "Cloverpop clarifies decisions, improves our meetings and saves us time while directly embedding our core values of freedom and responsibility in the decision making process. It is amazing how powerful writing and recording business decisions can be."
"With investors like True, TDF and Next Coast backing our business, we have the financial resources we need to solve the most important business challenge of today -- improving how decisions are made," said Erik Larson, founder and CEO, Cloverpop. "We proved that Cloverpop dramatically improves the process for our early customers, and now we will scale sales, customer success and product development to bring our solution to the enterprise market."
San Francisco-based Cloverpop is unshackling enterprise managers and executives from endless meetings and delayed decisions by modernizing and streamlining the decision making process. Cloverpop takes the best from behavioral science, no PhD required, and puts it to work for teams executing across the enterprise via its cloud-based platform, a powerful but easy to use app that helps businesses make better decisions 2x faster with half the meetings and 100 percent visibility across the enterprise. Modern enterprises use software to run their most important processes -- with Cloverpop, the decision-making process finally gets the software platform it needs. For more information, visit www.cloverpop.com.