Yaletown Partners portfolio company Thoughtexchange was recently recognized by Crunchbase as one of 5 start-ups to watch—worldwide!Crowdsourcing company Thoughtexchange produces software that allows leaders to ask open-ended questions to groups ranging from 10 to 100,000 people. The software then uses data analysis and artificial intelligence to provide insights in real time to help those leaders make informed decisions and create organizational change.In selecting Thoughtexchange for this honour, Crunchbase, the leading platform for professionals to discover innovative companies, remarked that in the era of the pandemic, users need access to data quicker and faster than ever. This is an important feature of Thoughtexchange’s cloud-based SaaS platform and one driving the digital transformation of the future of work. Through the use of data, Thoughtexchange is helping companies to perceive potential changes, design (or redesign) the workplace, define workforce tasks and arrange the workflow. All of these are critical factors to creating an enduring competitive advantage, especially in this ever-changing world.With the advent of the coronavirus, Rossland, British Columbia-based Thoughtexchange saw usage of its platform jump by over 600 percent between March and June, as leaders around the globe sought new and dynamic ways to connect and scale conversations with their teams and communities—all while working remotely. With this rapid expansion in platform usage and having raised some $30 million in financing since late last year (with participation from Yaletown), Thoughtexchange is poised for continued growth through technological innovation and expansion of its team—making it, indeed, a start-up to watch!
