Weave, which provides telecom services to small and medium-sized businesses, has raised $5 million in Series A funding. A Capital, the early-stage firm newly launched by Ronny Conway, who left Andreessen Horowitz last year to raise a fund, led Weave’s financing. Homebrew, Fuel Capital, SV Angel, Y Combinator and Initialized Capital also joined the round. Pleasant Grove, Utah-based Weave was launched with seed-stage funding from Y Combinator earlier this year.
Weave Secures $5 Million in Funding
Series A Round Will Support Company Growth as SMB Demand for More Effective Phone Systems Grows
PLEASANT GROVE, Utah — June 10, 2014 – Weave, the modern phone company for small and medium businesses (SMBs) that syncs with existing CRM and EMR software, today announced it has raised $5 million in Series A funding to support the company’s rapid growth and accelerate product innovation. The round was led by A Capital, and joined by a number of other investors, including Homebrew, Fuel Capital, SV Angel, Y Combinator and Initialized Capital.
“Our investment in Weave represents a steadfast commitment to supporting innovative ideas that hold tremendous potential to disrupt an entire market,” said Ronny Conway, managing partner, A Capital. “With its innovative communication system designed for markets long overlooked, Weave is proving itself a pioneer that is quickly making its mark on the industry.”
These funds come at a time of exponential growth for Weave, a company that understands the specific pain points SMBs experience with traditional, marquee-name communication services. In the past month alone, Weave’s customer base jumped 30 percent, prompting the addition of personnel to support new and existing customers in Weave’s initial market of focus, the dental industry. Aside from these new hires, proceeds from this round of funding will be used to expand Weave’s sales and marketing efforts to meet the increasing demand for its software. The money will also be used to develop new innovations to further differentiate itself in the market.
More than 600 dental practices across the United States and Canada have discovered Weave as a means to more effectively communicate with their patients and streamline office operations. The only phone and text service designed for SMBs in dentistry, Weave’s communication software links to a dental practice’s existing patient database, ensuring information is instantly at the fingertips of office personnel during patient communications. As a result, staff members can accomplish more on phone calls and provide personalized service, while the practice benefits from greater retention rates and higher marks for customer service. Weave was built to empower the office associate, and therefore requires little to no specialized IT experience for installation or management.
“Today’s communication services are not designed with the SMB in mind, let alone SMBs in the dental industry that require very specific features and capabilities to help support their goals to better serve patients,” said Brandon Rodman, CEO, Weave. “Weave introduces a revolutionary approach to patient communication that can actually be applied across the healthcare vertical and beyond. Our investors recognize this, and understand that this is just the beginning for Weave.”
Weave is a modern telephone company for small and medium-sized businesses that syncs with existing CRM (Customer Relationship Management) and EMR (Electronic Medical Record) software. Weave consolidates VoIP calling, SMS text messaging, and emailing into a single desktop service, empowering businesses to effectively manage their customer messaging and capitalize on the value of their customer relationships. When you call a business using Weave, they know your name, they know what you need, and they can make it happen for you immediately without putting you on hold or digging through a file. For more information, please visit www.getweave.com. Follow us on Twitter @getweave