March 03, 2011 09:15 ET
yaM Receives Funding to Build Out Innovative, Cloud-Based Tools Designed to Improve Meeting Efficiencies
ALEXANDRIA, VA--(Marketwire - March 3, 2011) - yaM, developer of cloud-based tools designed to make meetings more efficient and productive, today announced funding from Foresight Ventures.
Meetings remain one of the last great inefficiencies in organizations today. Every day, millions of meetings take place translating to billions of dollars worth of time. Yet despite the massive amount of energy spent preparing for, conducting and following up with meetings, people still complain about the number of unnecessary and poorly run meetings.
Simply put, people want new ways to make meetings more efficient. This is why yaM is being developed.
The idea of yaM is very simple: to improve meetings by replacing hard copy tools of the past with virtual and cloud based tools. yaM, which stands for Yet Another Meeting, is a collaborative, real-time application designed to improve the efficiency of meetings by providing tools to improve brainstorming, analyze priorities, create pro/con lists, offer real-time voting on ideas, and employ visual aids via an intuitive online whiteboard.
The round of funding will be used to accelerate product integrations with the iPad and other tablets, Google App marketplace, Yammer, and Jive Networks. The funding will also be used to market the solution in North America.
yaM builds on the momentum of early industry leaders who created IT consumerization through cloud-based, real time communications such as Google, Zoho, Salesforce.com, Yammer and Jive Networks.
"We're excited to announce this funding round and continue to improve a solution that we think is long overdue for anyone who has ever been frustrated by a meeting," said Anatoly Gaverdoskiy, founder and CEO of yaM. "There are millions of meetings worldwide every day, costing billions of dollars. There are probably just as many meeting complaints. We intend to make meetings more productive, more engaging, and more deserving of your time."
"yaM's drive, commitment, and focus on innovation show considerable promise and ensure our investment has great potential," said Andrey Kazakov, the Managing Partner at Foresight Ventures. "We are delighted to join an extremely talented, experienced and professional team and are excited about the enormous market opportunity of putting ineffective, monotonous meetings put to rest."
Focused on delivering innovative solutions that boost meeting productivity and efficiency, yaM Labs offers intuitive, easy-to-use software that solves many of the issues plaguing the modern business meeting. yaM enables users to capture all relevant information throughout the planning, running, and execution of a meeting -- whether that meeting is face-to-face, online, on the phone, or a combination. yaM offers a cloud-based suite of tools -- each of which serves a specific purpose to make meetings more enriching and valuable. The real-time collaboration design lets participants engage in trackable brainstorming sessions, SWOT and pro/con analyses, action item prioritization, and other strategic but often underutilized meeting techniques and methods.
About Foresight Ventures
Foresight Ventures is a venture fund focused on hi-tech, software and Internet companies. The core values of investing for us are revolutionary ideas that can change the industry and leaders of the companies, which are completely devoted to their ideas and are willing to take the most active role to develop the company.
Entrepreneurs who bring the projects to our fund, having a vision of the business and desire to develop their companies are the basis of our business. We support them in selecting the right business model, give a social capital to build the sales process, to make the right partnerships or to acquire necessary talent for the company. Foresight Ventures is founded by Andrey Kazakov and Vladislav Sviblov and advised by John Zdanowski. The other companies in Foresight Ventures portfolio include: Cloudmach - 3D in a browser that runs with no plug-ins or installations, INNtelligenz - SaaS solution for hospitality revenue management.