As of 3rd May, 2022, Valence, an upcoming teamwork platform, announced that it has secured funds of USD 25 million in its Series A investment round. This funding was led by Insight Partners which is a Venture Capital group. The co-founder and CEO of Valence, Parker Mitchell, has stated that this capital will be used to triple the size of the company’s team, and expand it to 75. Not just that, the funds will be used to increase the sales footprint of Valence, particularly in Europe as well as build the company’s product team.
Valence is a teamwork platform which makes use of tools for talent and development. It also allows its users to access specific terms-based coaching for their particular organizations. The platform enables managers to track their teams performance by using metrics and other analytical tools. Managers can also intervene and have “guided conversations” with their teams whenever they seem necessary. In an email interview with TechCrunch, Mitchell stated that the goal of their company is to facilitate tools that enable teams to collaborate and communicate well together. It also wishes to help teams by coaching them and including best practices that will enable them to reach their goals. Mitchell addressed the issue that most companies face today, while operating in a hybrid setup due to the pandemic. He expressed that people today are unable to get the learning opportunities that they should due to the hybrid mode. Valence intends to solve this issue by coaching managers and employees on essential skills like teamwork, leadership and facilitation. He stated that there are many tools that make it easier to track performance on task, however valence focuses more on the nature of collaboration among team members.
By making use of Valence, teams can come up with a shared plan and revisit it every couple of months to monitor their progress rate, as well as identify any roadblocks that they might face. In addition to making use of tools that assist in teamwork and collaboration, Valence has also included an innovative approach in their operations. They also offer personality assessments for each team member, which enable other members to adapt to the working patterns of others. This serves as an affordable alternative to professional coaching. Valence has an impressive track record thanks to its unique philosophy, and has worked with companies like Coca-Cola, Boston Scientific and Illumina and Applied Materials.
About Valence’s founders
Valence is a New York-based company that was founded by Parker Mitchell and Levi Goertz in 2017. Prior to creating Valence, Mitchell worked as a consultant at McKinsey and had also co-founded Engineers without Borders and Significance Labs. Levi Goertz was also previously associated with McKinsey and had worked with Engineers without Borders. He had co-founded his own company Viamo and was the COO of the same company for four years.
About Insight Partners
Insight Partners is a Venture Capital Firm, which is based in New York. It was founded in 1995 by Jeff Horing and Jerry Murdock. As of today, the firm has raised USD 90 billion, in the form of capital commitments. In 2019 the company changed its name from Insight Venture Partners to Insight Partners and also established an office in Tel Aviv. It has worked with companies like Twitter, Shopify, Wix.com and Trivago.
