Within a relatively short period since its launch, Whyise, a Jordan-based impact analysis solution provider has made quite an impact on the investors-community. The company announced earlier this week that its latest seed funding round led by Amman-based accelerator Propeller, and participated by two angel investors, has been a major success.
Although the financial details of the round were not disclosed, word on the street is that the amount raised is in six figures (USD). Whyise’s affordable yet exhaustive platform empowers organizations to harvest data from various sources such as Excel sheets, surveys, APIs, and track impact based on key indicators through sophisticated, real-time automated reporting. To add to the ease of use, the platform offers a simple yet effective dashboard and visualizations.
Additionally, it can also map against global frameworks like the Global Reporting Initiative, the United Nations Sustainable Development Goals, and the IFC Environment Social Governance standards.
Simply put, Whyise’s platform makes it feasible for businesses to base decisions on empirical evidence and leverage deep insights into prevailing trends for the maximal impact of their strategies. The startup claims that by using their solutions, organizations can optimize their operations, drastically reduce operational cost, minimize risks and fraud, and easily scale the results and quantify the success-rate of their strategies.
Speaking of Propeller’s decision to invest in Whyise, the accelerator and early-stage venture capital firm’s CEO Mustafa Khalifeh, commented, “Corporations of today are now, more than ever, aware of the importance of setting and tracking Environmental, Social, and Governance (ESG) metrics across their value chains, and Whyise is the tool that will empower them to do so.”
Whyise plans on utilizing the new fund in its kitty in expanding its workforce, spread to global markets, and invest in artificial intelligence to further polish its offerings.
