Groopit Raises $2M Pre-Seed to Democratize Company Data

Groopit Secures $2 Million Pre-Seed Funding to Enhance Data Collection

Groopit, a nascent startup founded by a former 20-year Microsoft employee, is focused on facilitating the crowdsourcing of data from field-based personnel within organizations. The company recently announced the successful completion of a $2 million pre-seed funding round.

Ascend.vc spearheaded the investment, with additional participation from investors including Voyager Capital and Vulcan Capital. To date, Groopit has raised a total of $3.1 million since its establishment.

Addressing the Data Dissemination Challenge

Tammy Savage, co-founder and CEO of Groopit, explains that her time at Microsoft revealed a significant issue: the difficulty of efficiently delivering crucial data to those who require it within a large organization.

“Groopit integrates data collection and real-time data dissemination into a streamlined process,” Savage stated. “This empowers all stakeholders to comprehend and effectively address challenges.”

A Crowdsourced Insight Model

Savage draws a parallel to Waze, the popular crowdsourced traffic application. Just as drivers contribute real-time information about road conditions, Groopit enables field teams to provide immediate insights.

She emphasizes the competitive advantage that this type of field-generated intelligence can offer to businesses.

Real-World Application: Stuckey’s

As an example, Savage cites Stuckey’s, a retailer specializing in nut products. Sales representatives, while visiting stores, can utilize a mobile application to document display conditions.

This includes capturing photographs of product displays, noting their location within the store, and assessing the presentation of merchandise. Furthermore, they can record data on competitor products, specifically identifying SKUs with strong sales performance.

This data is then readily accessible to executives, allowing for integration with tools like CRMs and collaboration platforms. The system also reduces the need for lengthy status update meetings.

Product Flexibility and Accessibility

The Groopit product is designed to be highly adaptable, allowing businesses to tailor data collection to their specific requirements. It functions seamlessly across both mobile and web platforms.

Company Growth and Diversity

Groopit was launched in 2018, following Savage’s departure from Microsoft. The initial product version was released at the close of 2020.

Currently, the company employs 18 individuals and has no immediate plans for further hiring. However, Savage highlights her commitment to fostering diversity within the organization as a female founder.

“Currently, we have a team comprised of more women than men,” she noted. “We actively seek talent from diverse sources, which naturally leads to a more inclusive team composition.”

Leveraging Microsoft Experience

Savage attributes her success in creating Groopit to her extensive experience at Microsoft. “My understanding of the challenges faced by leaders stems from my years in leadership roles at Microsoft, combined with thorough research.

This experience was pivotal in the development of Groopit – a synthesis of my leadership background and software design expertise,” she concluded.