In January, Avanoo raised $4.5 million and no one seemed to notice. Four months later, they have a small PR initiative to get your attention. It’s odd, but whatever. Avanoo provides tools in two crowded categories: culture/engagement surveys and microlearning. Their message is focused on “culture change” within organizations with a tie to ROI. Our ongoing research shows that leaders value culture and believe that it contributes to revenue, but have a hard time connecting the dots from that perception to action. Tying survey analytics to micro-learning content is a noble pursuit. Standing out in one crowded category is tough. Differentiating your solutions in both culture/engagement surveys and learning tech doubles the challenge.
From the Avanoo blog. (We’ve adjusted the $5M to $4.5 based on this month’s announcements):
Avanoo closed a $5M institutional investment round led by Access Venture Partners valuing our company at ~$40M. We also added to our Board Frank Mendicino, Managing Director of Access and Bob Scott, former Morgan Stanley President.