Three Rising Software Platforms that Secured Funding Rounds in Late August 2023
As the world grows increasingly digital, software and app startups continue to make significant strides in diverse fields, from event planning and language learning to employee well-being. A trio of promising startups recently caught the attention of investors, raising substantial funding in late August 2023 to expand their services and impact. Here's a closer look at Allseated, Speak, and Teale, three companies on the rise.
Allseated: A Virtual Platform for Event Planning Secures $20M
Founded in 2011, San Francisco-based Allseated offers a collaborative space-visualization platform—or web app—that helps event organizers plan and showcase venues virtually. Its features include creating virtual walkthroughs with 360-degree views and designing floor plans. On August 29, the company announced that it raised $20 million in a debt round.
The funding, which included investments from Magma Ventures, Level Structured Capital, Vestech Partners, NYFF, and WGG, will help Allseated scale its space visualization and collaboration platform. Interestingly, Allseated also revealed that it would spin off its “meetaverse” division into a standalone entity, refocusing on its core competency of real-world event visualization.
Speak: AI-Powered Language Learning App Gets $16M Boost
Speak, an English language learning app backed by OpenAI's startup investment fund, raised $16 million in a Series B-2 funding round led by angel investor Lachy Groom on August 31. Drew Houston and Arash Ferdowsi, the co-founders of Dropbox, also participated in the funding round. Speak plans to use the money to expand into more markets, including launching in the U.S. by the end of the year. The startup's mobile app, which uses OpenAI's advanced text and speech recognition technologies, offers an interactive, AI-driven experience for learners.
Teale: Your Mental Health Companion at Work Raises $11M
Teale, a French startup providing a mental health platform—or app—for employees, raised $11 million in a Series A round led by Alter Equity and Bpifrance's Digital Venture fund on August 31. Existing investors Isai and Evolem also participated. Teale aims to help HR managers prevent employee burnout and identify organizational issues. The platform offers a wide array of content on mental health topics, individual consultations with psychologists, and analytic tools for HR teams.
Teale’s app is already in use by several large companies, including Sanofi, SNCF, Cartier, and EY. With this funding, the startup plans to expand its team and enter new markets.
These three startups, each offering a unique app or software platform, secured significant investment rounds in approximately the same timeframe—late August 2023. Their funding successes highlight the value investors see in digital solutions for real-world challenges, from planning events and learning languages to improving employee mental health. As these startups scale up and refine their offerings, they stand to make significant contributions to their respective fields.