The funding round was co-led by Jason Calacanis’ LAUNCH and Wavemaker Partners with the participation of Imagination Capital, Streamlined Ventures, XFactor Ventures, Matt Mullenweg and others. The company has also announced its rebrand from Balloonr
Balloon’s Software-as-a-Service (SaaS) solution enables companies, including Capital One, Thumbtack, Google, US Cellular, and LA Angels, to share, collaborate and vote input anonymously. In doing so, the streamlined workflows of the platform eliminate costly biases (e) g The g , group thinking, anchoring, over-communication, increases the diversity of thought and amplifies the strongest insights.
“Our mission is to transform how teams interact by addressing cognitive biases, group dynamics, and fears,” said Amanda Greenberg, Co-founder & CEO. “The need for true data drives company leaders to adopt a variety of surveying and communication tools, but none of them address key systemic organizational issues. Balloon is the first platform to allow insights to move freely through organizational strata-not on the basis of where they came from, but on the basis of their merits. “That’s right.
More than $3 5 billion is spent on team collaboration applications such as Slack, SurveyMonkey and Hangouts. Despite this, in recent studies by Bain & Company and Northwestern University, it has been reported that about 15 per cent of the organization’s time is spent in meetings, and in an 8-person meeting, only three out of eight people spend 70 per cent of the time talking. With Balloon, companies see an average of 78% of people working together and evaluating regardless of group size.
“Our goal was to build a product that ensures that everyone can contribute-introverts, interns and cross-functional teams. To this end, we designed the entire platform on the basis of hundreds of teamwork, collaboration and bias mitigation studies,” said Co-founder & CTO, Noah Bornstein. “Today, more than 80 percent of the information shared on Balloon is brand new and our streamlined workflow reduces meeting time by 70 percent. “That’s right.
The core features of the Balloon Platform include:
Flights: To get started, employees are asked to take part in a flight, which is a question or a set of questions with start and end time. Flight authors can choose flight templates from a library based on specific use cases and functions.
Balloons: Employees anonymously create and launch “balloons” with feedback, responses, or information for each flight. Employees do so at their own pace and without visibility in other responses to avoid anchoring bias.
Collaboration: After employees submit their balloons, balloons are visible to everyone to ask questions anonymously or to provide additional feedback on balloons.
Pumps: Employees can give an anonymous vote or support to a particular balloon by giving it a ‘pump.’ “That’s right.
Results: When the flight is over, the balloons are scored on the basis of the number of pumps and the overall approval. The ranked results show the group priorities, buy-in and consensus for each balloon.
Visit https://getballoon for more information and try Balloon Come on,
The Balloon About
Balloon is an insightful mobility platform that uncovers transformational thinking and drives growth. It enables teams to make a real contribution and evaluate it on merit, so that everyone can align and win together. Through Balloon, teams share and vote on input anonymously, eliminating costly biases, increasing thought diversity, and amplifying the strongest insights. The platform operates through a quick, phased process that also streamlines workflows, resulting in fewer meetings and great results, faster and faster.
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