Empowering the Workforce: weavix Raises $23.6M in Series B for AI-Enhanced Worker Connectivity
weavix, a Wichita-based technology firm, has announced a significant milestone in its growth journey by securing $23.6 million in Series B funding. This investment round, led by global software investor Insight Partners, with contributions from Four More Capital, The Friedkin Group, and Perkins Coie, marks a new phase of expansion for weavix. Previously receiving $10 million in Series A funding from Koch Disruptive Technologies, the company is poised to further develop its innovative frontline communication solutions. The weavix platform, enhanced by AI capabilities, offers unique insights into frontline efficiency and safety, aiming to transform enterprise operations. With plans to scale operations across the U.S., weavix is set to fortify its position as a leader in empowering the hands-on workforce through advanced communication tools like the walt® smart radio.
WICHITA, Kan., Jan. 16, 2024 weavix, the Wichita-based technology firm specializing in frontline communication and efficiency solutions, announced today it has successfully raised $23.6 million in its latest Series B funding round. The investment was led by global software investor Insight Partners, with participation from Four More Capital, The Friedkin Group, and Perkins Coie. As strategic partners and leaders in the industrial world, they now join Koch Disruptive Technologies, which previously invested $10 million in Series A funding in January 2022.
With this new funding, weavix intends to expand its product offerings and strengthen its market presence in industries such as manufacturing, construction, food and beverage production, hospitality, and energy. The funds raised will be primarily allocated to rapidly scale operations across the United States to meet demand and secure the position as the leading frontline worker platform benefiting the hands-on workforce through employee communication to drive engagement, enablement, and retainment.
The weavix platform, propelled by cutting-edge AI capabilities, is the first of its kind to unlock frontline communication. Beyond seamless communication, weavix harnesses the power of AI to gather and analyze frontline efficiency and safety data, offering executives an unprecedented level of visibility into their facilities. Each component of the weavix platform is designed to create a single source of truth for enterprises. By implementing the weavix platform and outfitting the workforce with a walt® smart radio, weavix can increase collaboration across facilities, enhance safety protocols, create a culture of retainment, and provide data-driven insights to weave systems, processes, and people together.
“Adding Insight Partners is a significant milestone for our organization,” said Kevin Turpin, Founder and CEO of weavix. “The collaboration and synergy I’ve witnessed during our interactions are indicative of the positive impact we can create together. I’m truly excited to work alongside some of the largest and most accomplished industry leaders who share a commitment to enabling and solving the unique challenges faced by the frontline workforce. the frontline worker faces. Our new partners best prepare weavix to set the stage for the rapid growth trajectory we expect this year.”
Insight Partners anchors the investment with its strong strategic relationships, insights, and expertise to keep pace with customer demand. This partnership provides access to Insight’s impressive portfolio ecosystem, creating collaborative opportunities to speed up new innovative solutions for frontline-driven organizations.
“weavix’s mobile device for the frontline worker is a gamechanger. Their smart radios and corresponding software unlock a new level of connectivity and productivity for the frontline workforce,” said Grace Kotick, Vice President at Insight Partners. “Their blend of hardware, software, and enhanced networking has transformed communications for those who need it most. We look forward to partnering with the weavix team as they continue to grow and scale up.” Grace will join the weavix board.
weavix has experienced rapid growth since hitting the market in 2022. Closing this growth round of $23.6 million gives weavix the additional resources needed to fulfill its mission of becoming the market leader by connecting the disconnected workforce.
About weavix®
weavix, the Internet of Workers® platform, revolutionizes frontline communication and productivity at scale. Since its founding, weavix has shaped the future of work by introducing innovative methods to better connect and enable the frontline workforce. weavix transforms enterprise by providing data-driven insights into facilities and teams to maximize productivity and achieve breakthrough results. weavix is the single source of truth for both workers and executives. Our mission is to connect the disconnected workforce through disruptive technology. Visit https://weavix.com/ or follow us on X @weavixiow for more information.
About Insight Partners
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of June 30, 2023, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 800 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and Palo Alto. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with tailored, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.
SOURCE weavix
