CPE News (6.28.2024) – innerlogic has raised $1.3M in seed funding led by Concrete Ventures with Tidal Venture Partners, Techstars, Middle Cove Capital, and others.
Founded by CEO Bryce Tully, President & CEOO Mike Bawol, Bedford, Nova Scotia based innerlogic, through its innovative AI-SaaS platform, provides businesses with in-depth analysis & reporting, behaviour-based coaching actions, and company alignment & accountability mechanisms in a user-friendly interface.
innerlogic plans to use the funds for sales and marketing, Go-To-Market, and product development and has brought on the services of growth consultancy, Chapter 3 Ltd., to support the creation and execution of these efforts.
photo credit: innerlogic
News Release
Innerlogic, an AI-based culture transformation company, closes $1.3M plus in oversubscribed seed round
Halifax, Nova Scotia June 27th, 2024 – innerlogic, an AI-powered culture intelligence company, announces the closing of their seed round led by Concrete Ventures with Tidal Venture Partners, Techstars, and Middle Cove Capital as follow on funds.
The Halifax-based company is at the forefront of transforming corporate culture and its impact on performance through their innovative AI-SaaS platform, saving clients hundreds of hours turning complex people data into tangible ROI.
Innerlogic founders Bryce Tully, CEO, and Mike Bawol, President & COO, have leveraged their combined experiences working at four different Olympic Games empowering high-performance teams. Based on their experience working with Team Canada in the highest pressure environments in sports, Tully and Bawol consider culture to be at the forefront of achieving amazing results.
“While a locker room at the Olympics may seem like a stark contrast to a corporate boardroom, the key principles and strategies of building high-performance teams are universal and pervasive,” says Bryce Tully, CEO and co-founder of innerlogic. “This investment will allow us to scale innerlogic to transform organizations across every industry while focusing on turning culture into a true driver of performance and results. Which is exactly how we think about it at the highest level of sport.”
During their tenure with Team Canada guiding Olympic teams to the podium, Tully, as a Mental Performance Consultant and Bawol, as a Performance Data Analyst, realized the immense impact culture was having on outcomes and yet was neglected from an innovation and measurement perspective.
Leveraging the latest advances in AI to dramatically accelerate the path to high-performance culture, the innerlogic platform is enabling organizations to deeply understand the needs of their people and their teams. In addition to their corporate clients, organizations in the NHL, MLS, and the NCAA have seen the impact the platform has had on their performance.
Concrete Ventures, an Atlantic-Canada based growth-minded venture capital firm, led the seed funding round. With a focus on “by founders, for founders,” Concrete Ventures supports start-ups within the region and has invested in multiple business productivity and AI companies.
“We’ve seen how culture can make or break a company,” says Patrick Hankinson, General Partner at Concrete Ventures. “We are blown away by the team’s technical knowledge and their innovative incorporation of AI to address this massive challenge and opportunity to high-performance culture.”
Innerlogic plans to use the funds for sales and marketing, Go-To-Market, and product development and has brought on the services of growth consultancy, Chapter 3 Ltd., to support the creation and execution of these efforts.
About innerlogic
Founded in 2020 by former Olympic performance and culture leads, innerlogic is at the forefront of transforming corporate culture and its impact on performance. Through their innovative AI-SaaS platform, innerlogic provides businesses with in-depth analysis & reporting, behaviour-based coaching actions, and company alignment & accountability mechanisms in a user-friendly interface. While 90% of organizations collect people data as part of their primary culture strategy, only 13% find it leads to meaningful change; innerlogic renders these conventional strategies obsolete by synthesizing all people data in 1 click and then providing personalized, impactful, and evidence-based strategies that are proven to improve people and performance outcomes.