MENLO PARK — Workfit has raised a $5.5 million seed investment to roll out products that will transform meetings from time-sinks into productive, accountable, collaborative time. Investors joining the seed round feature a host of venture capital firms and strategic funds including Battery Ventures, Greycroft Partners and Salesforce Ventures. Workfit will use the investment to grow the team and roll out its inaugural products this spring.
Founder Omar Tawakol, a big-data visionary who founded BlueKai, which was acquired by Oracle in 2014, witnessed the increasing amount of time being spent in meetings, yet people from companies large and small were universally dissatisfied by how unproductive that meeting time was. In the U.S. alone, there are an estimated nine billion meetings a year, where more than 28 percent of that time is considered “wasted” by attendees.
“We believe that meetings should be the most powerful collaborative solution. But for many companies, the amount of time wasted in meetings is akin to taking truckloads of cash and setting them on fire,” said Tawakol, Workfit’s CEO. “In too many meetings, a lot is said, little is remembered and follow-up is inconsistent. The dynamics of meetings are broken, and in companies across the globe, meeting fatigue has become an epidemic.”
Workfit will deliver the industry’s first interactive Enterprise Voice Assistant, Eva. Eva is an intelligent meeting facilitator that helps people by making meetings searchable, taking note of decisions, and encouraging follow-up on action items. Eva for Enterprise will go even further, engaging beyond meetings to help employees feed data into, and query data out of, a variety of CRM, task management and customer service platforms. Eva does not require software installations, mobile apps, or specialized hardware and helps customers have more productive meetings with almost no additional effort.
Unlike consumer-oriented voice assistants, Eva is designed for enterprise interactions that require handling multiple speakers at once, higher accuracy rates, and tighter data-ownership controls. Workfit will transform how business users interact with company systems, and bridge the gap between complex workflows and simple voice interactions.