Batterii, a Cincinnati-based open-cooperation software innovation venture, raised $800,000 in seed-stage funding, hired a seasoned West Coast Technology Executive as its CEO, and added six other key executives to its management team.
Kevin C’s Cummins, former Chief Operating Officer of Spigit, Silicon Valley’s leading software application management company, moved to Cincinnati to run batterii. Cummins has invested $250,000, and CincyTech has invested $300,000 as part of a planned $1 million seed-stage round to help expand engineering and sales. The batterii executive team has added $150,000 and a further $100,000 has been committed by an undisclosed investor.
Batterii is a web-based SaaS platform that empowers companies to engage their employees, partners and customers to develop new ideas, identify new products and drive process improvement to increase top-level revenue. Nike Inc is one of its key customers Home Decor and direct-selling PartyLite company Batterii has 16 full-time employees and plans to grow to 28 by year-end.
The management team includes Laurie Morse, Vice President of Global Sales; Challis Hodge, Executive Vice President of Customer Experience; Joe Messina, Executive Vice President of Strategy; Nick Franceschina, Chief Technology Officer; Tom Brister, Vice President of Services; and John Auer, Vice President of Strategy; Hamilton Dorian serves as Chief Financial Officer
Cincinnati marketing executive Chad Reynolds, Chief Creative Officer of Batterii, founded the company after seeing the need to develop new ideas at all levels of the corporation.
“Companies are looking for better ways to be innovative,” said Reynolds. “Batterii has developed next-generation experience for companies, teams and individuals to build that value together. Early customers, such as Nike, have used our platform to create insights, campaign themes and new product ideas. We are removing the barriers to participation “That’s right.
At Spigit, Cummins was responsible for operations, services and customer support, including community management, customer services and technical services. He has worked as a sales manager at Sun Microsystems, as well as in corporate development. Its background includes sales and management operations, global marketing and engineering management. He has a Bachelor of Science degree from the University of Miami and an M. B: B University of California, Berkeley, and Columbia University
Morse, who lives in Southern California, has over 25 years of experience in social media, information technology and media/entertainment. Hodge, former vice president of user experience at the Nielsen Co. brings global experience and proven success in the handling of elegant product design and exceptional customer experience. Brister, who worked for Spigit and Allstate Insurance, brings both client and provider experience in the implementation of global managed innovation programs.
Messina and Auer both came from Spigit, where Messina served as vice president of community management, and Auer was director of portfolio and platform management.
“Batterii is addressing a $6 billion market, and our approach is focused on increasing the top-line revenue of our clients,” said Cummins. “With the security and scalability of the Google Apps-based SaaS platform, our software begins by capturing inspiration and supports the process by building and analyzing ideas. “That’s right.
Mike Venerable, Managing Director of Digital, Information and Health Technology for CincyTech, said batterii’s strong management team, combined with its unique technology platform, has created an attractive investment opportunity.
“Chad is a proven entrepreneur, and Kevin is a technology leader who can take batterii to a national platform,” Venerable said. “Batterii’s approach gives companies wishing to innovate a completely new tool for a broad commitment to the development of new products, new markets and improved internal processes. “That’s right.
The Towers Watson report found that companies with a high workforce improved operating income by 19. 2% year-on-year, while those with low levels of commitment saw a decrease of 32. 7%, he added.
“Allowing innovation to take place at all levels of a company—and from outside—is crucial to building community, building ideas and gaining insights, ideas and consensus. “That’s right.
Batterii will be exhibiting at the Front End Innovation in Orlando, Fla., from 15-17 May next week.
Reynolds will be speaking on “Innovating with Three Eyes” as part of the CoCreation Track on May 15.
About the baterii
Batterii is a platform that connects managers, coworkers and customers with real-time experience to inspiration and ideas. Its Guides help individuals build the right skills, its Labs inspire teams through disruptive experience, and its Platforms connect companies to discover multimillion dollar opportunities and solve problems. Batterii makes innovation a group participation effort and affordable to be managed by companies at all levels
About CinkyTech
CincyTech is a public-private seed investment firm that invests in start-ups in high-tech industries in Southwest Ohio. With the substantial support of Ohio Third Frontier and its corporations, foundations, civic organizations and individuals, it stimulates the growth of venture-worthy companies in information technology, bioscience and advanced manufacturing.
Please note that this piece of work originally appeared in English at https://www.vcnewsdaily.com/Batterii/venture-funding.php. As Investocracy aims to bring global startup news and updates in both English and Japanese to you, it’s important that we attribute original source to you. If you have any questions/concerns please write to us at contact@investocracy.co
