Kindling Raises $2.3 Million Series B for Idea Management Platform
Agencies often have innovation labs with fun little projects, but rarely do they turn into full-blown enterprise startups. But why not? There's no reason enterprise software shouldn't be as engaging and well-designed as consumer Internet software. That's what's gotten Yammer and Hootsuite to their levels of success. And that's what's happened at Arc90, a design firm that recently spun off an internal enterprise software project into Kindling.
Arc90 initially bootstrapped the venture, but recently it spun out and hired Daniel Summa as its President. The company this year rebuilt its entire app from the ground up to be completely responsive.
Now, the company has raised $2.3 million in a Series B round that has the capacity to go up to $2.6 million from Milestone Venture Partners and Arc90.
With its decision making workflow tools and "idea management" functions, the app helps large organizations including the US Department of Veterans Affairs, Credit Suisse, Mashable and VaynerMedia identify good ideas from their employees.
The company doesn't just sell its product directly, but it also does a sortof white label distribution where companies like Deliotte can sell it to their own clients as the "Deloitte Innovation Academy," said CEO Tim Meaney.