PERTH, WA.-- July 13, 2020:
WA Startup, Functionly, Wins $598k Federal Accelerating Commercialisation Grant to Help Organisations Work Better Through COVID Economic Recovery
Functionly, a company replacing the traditional organisational chart with intelligent work design software, has been awarded $598,000 in funding as a recipient of the Federal Government’s Accelerating Commercialisation (AC) grant. This is the first AC Grant to be awarded to a Western Australian company since September 2019. The grant takes the company’s pre-seed funding round to $1.4M, following angel investment in late 2018.
The AC grant funds will be used to accelerate work on the beta product, called Functionly, plus complete its development in preparation for customer trials, research with Curtain University, full commercialisation, and to build out world-class customer-facing capabilities including support and customer success.
Throughout the COVID-19 crisis, Functionly has seen a dramatic increase and urgency in the need for organisations to respond with changes to strategy and resourcing. Companies need to optimize the way they intentionally ‘design’ work – running scenarios to plan the changes that need to be made and understand the right tradeoffs to make. This type of organisational design is typically very expensive and time-consuming, often requiring external institutional management consultants or experienced executive hires.
Functionly offers a new and more accessible way of designing better organisations in real-time using work design patterns developed in collaboration with academics, expert advisors and experienced transformational leaders.
“The grant will enable us to continue our momentum, despite the current economic situation brought about by COVID, so we can bring a tool to market sooner which we know will be helpful to organisations in these uncertain times,” said Tim Brewer, co-founder and CEO of Functionly and a former winner of the Business News 40under40 award.
With the tailwinds of a global pandemic, AC funding support tops off a solid six month period for the company which saw paid trials of the Functionly Labs in the USA, UK, Egypt and Australia with companies including HappyCo, ServiceRocket, and HealthEngine sign up for the paid trial program.
Jindou Lee, CEO & Founder of HappyCo, describing their experience with Functionly, said “I was so frustrated with cobbling together Powerpoint and spreadsheets to present different ways of getting our organisation on the same page. Now we are using Functionly, we are able to more intentionally click all the pieces into place. The user experience and the team behind it are awesome.”
About Functionally: Functionly is an intelligent org chart and work design software for modern leaders and organisational development consultants to design and build the best places to work. Functionally was founded in 2018 by CEO, Tim Brewer and Co-Founder, Damian Bramanis, with a simple mission: Better work, better world. Functionally consists of a global team and advisors who have worked with companies including Dropbox, Teamline, MixMax, Yammer, Auth0 and others.
Tim Brewer - CEO