Marathon VC:700,000 euros investment in Avrio to change the way teams cooperate
Avrio announced a 700,000 euros investment from Marathon VC and private investors, who are founders and executives in world-class technology companies. The funding will support Avrio’s development as it is expanding the size of its team and its product’s functions.
Avrio started a few months ago to change the way teams cooperate, through a more effective use of the available information. Most companies use multiple tools to analyze and share information, such as data boards, Google Docs, emails, which finally remain stored in different places.So, useful data and knowledge aren’t leveraged properly or informed with new data, while sometimes research is repeated and decision-making isn’t efficient. Avrio’s product gives the solution in a time that teleworking is on the rise and it is crucial to find more effective ways to help teams cooperate.
The co-founders of the company, Andrew Michael (CEO) and Natalie Masrujeh (CPO) created a platform which through a browser extension helps teams store and share information found in tools they already use without the need to go to another platform to store or share them.At the same time Avrio’s product operates together with the existing tools.As a result it can automatically transfer information in documents or websites and facilitate decision-making.
The co-founders, having already created and worked in technology companies (Andrew as Head of Business Intelligence in Hotjar and founder of adJelly acquired by Brandzooka and Natalie as Product Owner of Overflow, a spin-off of Proto.io and as CTO in several startups), realised that crucial data and knowledge within corporations remain in different platforms, such as Confluence, Notion, Drive and others, so the data analysis and research are repeated and are not complete. At the same time Andrew extracted data from his conversations with some of the most successful CEOs in technology companies, in the context of the podcast he has created named Churn FM, which is one of the most successful in the field of SaaS products.
“We are excited about this round of funding and our cooperation with Marathon VC, as well as with private investors, who share our vision for a new way of cooperations and knowledge management within the corporations.We believe in a future where the answers to the teams’ questions become easily available in order to support decision-making with data, helping this way the growth of the company.This funding will support the development of the team and the creation of a product which will become part of users’ everyday life.”, stated Andrew Michael, co-founder and CEO of Avrio.
“Nowadays, the available information in corporations remains in boards, documents or the employees’ minds. From the very first moment that Andrew shared with us his idea about Avrio, we realised the size of the problem. We live in a world that teleworking becomes more and more widespread which makes knowledge management and data analysis extremely important elements for productivity. Marathon Venture Capital uses Avrio’s platform on a daily basis and we are looking forward to Avrio’s next steps.”, said Panayiotis Papadopoulos, partner of Marathon VC.