Butterfly, the corporate training provider startup, has raised $2.4 million seed funds from Daphni, Tectonic Ventures, Precursor Ventures and a number of angel investors to further augment its goal of providing effective leadership/corporate trainings. David Mendlewicz, founder of Butterfly, added that “The gold standard for training is a compressed quarterly or yearly training. This tends not to work because it’s not targeted in terms of content or timing. Instead, Butterfly monitors team feedback and uses machine learning to push brief, digestible tips to managers via a chatbot named Alex to help improve outcomes. We’re focusing on content that managers can take advantage of — short and conversational”.
The startup has already managed to onboard 20 large companies, including Citibank, Ticketmaster and Coca-Cola, with paid contracts reaching 50 percent or more of the addressable workforce at most customers. As of now, ~33% of Butterfly’s content comes from third-parties and the rest of the content is indexed and reframed by the startup. However, in the future, the platform could make for an interesting content marketplace where managers could opt into the tools they think they could most benefit from. With data of which resources work for which teams, Butterfly can inform decisions around which training content companies should be spending their money on.