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Mercredi 20 Octobre 2021

Bites Raises $5M in Seed Funding for Next-Gen Employee-Communications and Training Application


Bites solution is currently being used by over 200K users, from large enterprise customers like Unilever and H&M to SMBs, including restaurants, fitness centers, and cleaning service companies



Bites, a game-changing player in the employee communications and training industry, announced the completion of their seed funding round, raising $5M.

Bites addresses one of the biggest employee communication and training challenges that businesses find themselves up against. With Bites, anyone within an organization can create and distribute professional, social-media-styled videos and content without requiring employees to download special software or new applications to their phones. While remaining remote, managers receive feedback through discussion boards and have access to robust analytics data showing engagement and completion rates.

The funding round was led by Vertex Ventures Israel, a leading Israeli venture capital firm. Surround Ventures, a US-Israeli VC specializing in early-stage media and eCommerce startups, Oryzn Capital, an Israeli venture focused on early-stage investments, Lyra Ventures, an ASEAN VC that invests in retail technology companies, and J-Ventures, a Silicon Valley-based fund, invested in the company as well.

“Bites is reinventing employee communications by leveraging concepts from social media and training to create a powerful platform designed for today’s distributed and remote workforce,” said Aviad Ariel, General Partner at Vertex Ventures Israel. “We believe Bites is the answer to one of the biggest challenges organizations face relating to communications and training by enabling easy creation, distribution, and consumption of highly engaging content while moving away from long forms and complex implementation processes of new software.”

Bites boosts engagement and retention over existing learning management systems (LMS) by offering compelling training content coupled with follow-up activities designed to reinforce learning. The flexible nature of the platform enables distributed and remote workforces to stay current on company practices, policies, and products without the need to install or adopt new apps or tools.

Bites is ideal for conducting remote training, reaching deskless employees wherever they are located while saving time and money. The company has experienced healthy growth, with over 500 customers using the system. When a global fashion eyewear retailer began using the system to train employees, Bites allowed them to replace all their standard onboarding and advanced training with engaging video training units. As a result, training was more consistent and efficient, and corporate headquarters had more control over the way its employees learned things. Bites enabled them to rapidly produce social-media-style content, share it on the channels they're most attentive to (such as SMS, WhatsApp, Messenger, etc.), and reach their frontline employees while reaching business goals quickly without information gaps. In their experience, Bites has been the only tool that allowed them to effectively reach deskless employees.

Bites was founded by Eran Heffetz, Tal Nagler Almog, and Hagai Horovitz. The co-founders bring first-hand experience and best practices from over 30 years of combined experience in training and technology.

“We are thrilled our investors recognize the value our offering brings to the world of employee communications and are confident that we are the right team to bring this dream to fruition,” said Eran Heffetz, CEO at Bites. “This money raised will support our R&D, sales, and marketing efforts, as we execute on our aggressive go-to-market plans by approaching retailers, consumer goods companies, healthcare providers, and other verticals. Bites is leading a revolution, enabling distributed workforces to remain current through highly engaging, trackable content.”

About Bites
Bites helps SMB & enterprise businesses easily create highly effective media-based professional content, share that content with their employees directly through the communication channels they are already on and manage usage to help employees meet their full potential while reaching their business objectives. With customers including Unilever, HP, H&M, Carolina Lemke, and others, Bites strives to democratize onboarding, training, and ongoing communications to all of a company’s employees, including those on the frontline, remote workers, and the less technically savvy. Bites makes sharing professional content with frontline employees simple, engaging, and really effective, reaching completion rates of at least 90%.

The company was founded in 2017 and headquartered in Tel Aviv, Israel. Learn more at mybites.io.

About Vertex Ventures Israel
Vertex Ventures Israel is a leading early-stage venture capital fund with over $1.2B under management. Over the years we invested in more than 100 companies, including Waze, CyberArk, and SolarEdge, and more recently Ownbackup, Innoviz, Axonius, Verbit, Trigo, and others.

Vertex Israel is part of a global Vertex Ventures network of funds, operating in Silicon Valley, Israel, Southeast Asia, China, and India with over $3B of committed capital. Learn more here.

About Surround Ventures
Surround Ventures is an early-stage VC focusing on Israeli driven startups operating within the media and e-commerce industries. Surround Ventures is looking to partner with ambitious entrepreneurs, and is committed to working closely with them by leveraging its sector expertise and strong presence in Israel and the U.S., in order to help accelerate their ventures and fulfill their vision.

Operating at the intersection of technology & culture with a finger on the pulse of innovation, Surround Ventures works hand-in-hand with its entrepreneurs to drive market value, accelerate their ventures, and help fulfill their vision.

About Oryzn Capital
Oryzn Capital is an early-stage venture capital firm investing in Israeli teams that work on innovative technologies across the cloud and mobile stacks, from the underlying infrastructure, through new platforms, to SaaS applications. The firm brings an innovative model to early-stage investing, working closely with their portfolio companies and providing hands-on support as they establish the foundations and infrastructure for scale.

About Lyra Ventures
Lyra Venture supports visionary and disciplined entrepreneurs who are transforming the industries of fashion and retail via the creation of high growth and resilient businesses. The company boasts an extensive Asia network, and sits at the heart of ASEAN and its fast-growing populations of young, middle-income, digitally native consumers.
The firm’s investment focus is broadly defined, enabling it to invest in pioneering companies across the fashion value chain including new retail models, brand concepts, SaaS businesses and materials innovation, with a focus on companies with proven product-market fit and that are ready to scale.

About J-Ventures
J-Ventures is a community-driven global venture capital fund of top investors, executives, and founders. Based in Silicon Valley, it operates as a collaborative community of leaders with shared values and a strong network of connected capital.
The fund is backed by a connected capital of 250+ world experts and executives across various industries, 60+ current, and past GPs from leading VC firms, and over 70 successful serial entrepreneurs – all looking to help its portfolio companies reach their greatest heights.

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