iObeya raises $17m funding led by Red River West, bringing total raised to date to $20m

– FRANCE, Massy –  iObeya, a leading provider of Enterprise Visual Management software, today announced that it has raised $17 million in a second round of funding from Red River West with participation from Atlantic Bridge Capital and Fortino Capital Partners, bringing the total raised to date to $20 million.

In addition to advancing the development of its platform, the new financing will accelerate the expansion into the United States, including the opening of a Seattle headquarters led by Cisco veteran Tim McCracken.

The company also announced that it has recruited Rick Tywoniak, an expert in the field of visual collaboration, as Vice President of Marketing.

While iObeya was widely used prior to the pandemic — hundreds of thousands of workers already use iObeya every day — the rapid and unprecedented shift to remote work has fueled skyrocketing demand for its platform, which is up by more than 400% since January. iObeya is ideal for large organizations with distributed teams; those that have complex R&D, engineering, and manufacturing processes; and those that utilize Lean and Agile methods. A growing number of forward-thinking multinational companies depend on iObeya for Visual Management and visual collaboration including Airbus, Thales, Volvo, Philips, Cartier, Axa, Eli Lilly and Company, Western Digital, Kimberly-Clark, Danaher, Sanofi, and many more.

“A decade or more ago, digital whiteboarding tools ushered in an era of visual collaboration. Today, iObeya represents a new vanguard that is poised to define the era of Visual Management,” said Luc-Emmanuel Barreau, Partner at Red River West. “iObeya’s momentum and ‘stickiness’ among leading global brands proves that there is significant — and growing — demand for enterprise-grade visual collaboration solutions that are designed on Lean and Agile principles, that fuel innovation and drive business performance. iObeya’s team has a proven track record and we’re excited to lead this investment as the company expands its global footprint, notably in the U.S.”

“Today’s workers know that advancing a unified vision and achieving common goals through teamwork — especially when working remotely — is essential. That’s why companies are striving to provide their employees with a human-centric, virtual environment in which they can innovate, grow, and contribute to the success of the business,” said co-founder and CEO, Cyril Daloz.

He added: “iObeya is an enterprise platform that empowers teams to create secure, configurable virtual rooms to support all their Visual Management practices. Users can share information and ideas, collaborate with colleagues in real-time, and track the progress of projects according to Lean and Agile principles. Our solution is particularly well-positioned to lead in these unprecedented times. We look forward to using this new investment to deliver a more visual and collaborative management approach, centered on human values, to large organizations as we expand our business in the U.S. and around the world.”

About iObeya

Founded in 2011, iObeya is the enterprise platform dedicated to all Visual Management and collaboration practices. iObeya enables distributed teams to perform their rituals and ceremonies as though face-to-face and in a secure virtual environment while upholding the principles of Lean and Agile methodologies. More than 350,000 workers around the world use iObeya daily to improve their company’s performance as part of their major strategic Lean, Agile, digital, and cultural transformations. iObeya is backed by leading venture capital firms including Red River West, Atlantic Bridge Capital, and Fortino Capital Partners.

For more information: https://www.iobeya.com

About Red River West

Red River West is a unique cross-border VC firm which promotes the international take-off of outstanding EU Tech companies by providing significant financial firepower and game-changing hands-on support in EU & the US. RRW focuses on highly disruptive growth-stage companies with investment tickets of €5 million to €30 million. RRW was initiated in 2017 by Artemis – the Pinault family holding company – and Alfred Vericel – the co-founder of Purch, a digital media group leader in the U.S.

For more information: http://redriverwest.com

About Fortino Capital Partners

Fortino Capital Partners is a European enterprise software investor, managing a €240 million growth private equity fund and two venture capital funds for earlier stage software opportunities. The firm has offices in Antwerp and Amsterdam. Fortino Capital’s investment portfolio includes MobileXpense, Efficy CRM, Odin Groep, Tenzinger, Maxxton, LetsBuild, Teamleader, among others.

For more information: https://fortinocapital.com/

About Atlantic Bridge Capital

Atlantic Bridge Capital is a Global Growth Technology Investment Firm with over €950 million of assets under management across seven Funds, investing in Deep Tech growth stage technology companies in Europe and the U.S. The firm has offices and investment teams based in Palo Alto, London, Dublin, Munich, and Paris.

For more information: https://abven.com/

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