This financing enables Elate to improve and further deploy its end-to-end platform, which guides organizations through the shift from Strategic to Dynamic Planning
Elate, a cloud-based strategic planning software, announced its oversubscribed Series A funding round of $4.9 million led by enterprise startup investor WestWave Capital. Co-founded by Chief Executive Officer Brooks Busch and Chief Operating Officer Abby Parker and loved by world-class Strategy and Operations Leaders at companies like Seismic, Buildertrend and Thornburg, Elate enables companies to connect long-term vision with tactical execution in a simple, intuitive way.
“Elate is redefining the way companies go about strategic planning by simplifying the experience for employees and surfacing insights for strategy and operations leaders that show results in a measurable way,” said Brooks Busch, Chief Executive Officer at Elate. “With this investment and the team we have in place, I am more confident than ever Elate has the ability to become the most dynamic and comprehensive platform to drive the future of strategic planning forward.”
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Elate’s strategic planning solution and all-in-one platform helps businesses define strategies and track execution across disparate teams. Going beyond a traditional objectives and key results (OKRs) framework, Elate’s platform guides leaders through a strategic planning process, providing recommendations and best practices to execute at the highest level and removing internal siloes to maximize transparency organization-wide. As a result, Elate customers are able to build, deliver and report on their strategy more quickly and efficiently.
“The positive impact of introducing a solution like Elate to help amplify our strategic planning process has been felt throughout the company,” said Jeanene Bettner, Managing Director and Chief Operations Officer – Distribution at Thornburg Investment Management. “Elate has helped Thornburg move towards a proactive approach to how we ensure alignment across teams and justify the time and resources we commit to delivering on strategic initiatives.”
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WestWave Capital led the Series A funding round, with additional new investment from The Pritzker Group Venture Capital, Hyde Park Angels (HPA) and Capital Midwest Fund. Elevate Ventures also made a significant follow-on investment in the round along with continued participation from Serra Ventures, M25, and the Flywheel Fund. The capital will be used to invest heavily in product development as well as support current and future customers through an expanded go-to-market strategy.
“In just 18 months since launching their platform, the trajectory, direction and vision of Elate speaks volumes to how they are driving strategic planning and engagement in a new way,” said Warren Weiss of WestWave Capital. “From our own experience, many of the platforms in this space have failed to connect vision with execution to enable a proactive, dynamic strategy. Elate is leveraging innovative tech combined with expert guidance and direction to solve this pain point and serve world-class strategy and operations leaders.”
“We view Elate’s solution as a long-term investment for much-needed change in the strategic planning space,” said Matt Tyner, Partner at Elevate Ventures. “As a former operations executive, Elate is superior in that it provides an end-to-end solution to create a more dynamic planning process and makes it easier for leaders to capture where they are currently at, along with what they need to grow successfully.”
