Tim Brewer-led Functionly has secured a A$3.6m seed round led by Black Nova Group, along with AfterWork Ventures, Investible, and Rampersand.
The capital will be used to further the Perth-founded orgtech startup’s mission to democratise organisational design.
In the wake of the Covid-19 pandemic, Functionly is seeing a dramatic increase in the urgency for organisations to lead effective change to their strategy, structure and workforce.
Leaders everywhere continue to wrestle with rapidly evolving demands, forcing them to re-think the way their organizations are designed.
Traditional project-based organisational design is typically expensive and time-consuming, requiring institutional consultants or new dedicated executive hires.
Not all organisations have the time or resources to engage institutional consultants whose services can cost upwards of $1 million and months of disruption.
Functionly offers a new and more accessible way to continuously improve the design of their organisation using org design patterns developed in collaboration with academics, expert org designers and experienced leaders that use the platform.
“This funding will help us further develop our product and hire key talent so we can accelerate our plans to provide access to a free version of the Functionly for leaders who are looking for solutions in these challenging times,” said Tim, speaking from the US, where he is based for the next few months.
With the tailwinds of a global pandemic, this funding round tops off a solid year for the company which saw thousands of trials of the Functionly in the USA, UK, and Australia with hundreds becoming customers.
Free version launched!
Functionly was founded in 2018 by CEO, Tim Brewer and Co-Founder, Damian Bramanis and consists of a global team who have worked with companies including Dropbox, Teamline, Auth0, Yammer and HealthEngine. In 2020, the team won a $598K Accelerating Commercialisation grant from the federal government.
Alongside this seed announcement, the company is excited to be launching a FREE version of Functionly (https://www.functionly.com/free) to help organisations get started.
The author worked on the AC grant on behalf of Functionly, but no longer works on the program.