KANSAS CITY, MO / ACCESSWIRE / September 20, 2022 / Despite an economic downturn that has dramatically reduced fundraising opportunities for tech startups, excitement is high for DevStride, the groundbreaking project and portfolio management solution that unifies strategic planning, project management, and reporting across organizations.
DevStride recently closed $3.2M in pre-seed funding that will enable the company to continue building out its innovative platform as well as implement critical go-to market activities. Flyover Capital led the early stage funding, a clear indication of DevStride's potential to transform the modern workplace.
The pre-seed round closed in a financial climate that has caused many VCs to restrict their capital investments, making it even more remarkable that DevStride was able to reach $3.2M as a pre-revenue company. As Y Combinator issued a May 2022 letter that advised startup founders to "plan for the worst," DevStride continued to defy market trends with their revolutionary solution for agile teams.
"It's outstanding that we were able to raise several million dollars as a pre-revenue company at the time that we did," says DevStride co-founder, Phil Reynolds. "Six months ago, it was relatively easy for companies to raise funding, but today's capital market has tightened significantly. Our investors' conviction in today's economic climate says a lot about our potential in the marketplace. "
DevStride is helping organizations rebuild their workplace in a post-pandemic world by reimagining project and portfolio management. While leading project management systems allow managers and individual contributors to understand tasks for a particular project, there has never been a way for teams within a company to clearly see how their contributions connect and build toward a larger goal.
DevStride makes this possible by starting with value stream mapping - allowing leadership to provide clarity on every project, connecting day-to-day execution with overall strategy. By visualizing the entire value stream, individual contributors throughout the organization more clearly understand their value delivery beyond a single project. In addition to knowing the basic parameters of a task and project, they now understand the greater goal. It not only provides complex teams with greater insight and communication but gives each member of the team a unique sense of purpose, showing them how their actions add value to the company.
Teams often operate in silos. The DevStride platform instantly solves this communication pain point by serving as the central nervous system for value stream delivery, showing connections between teams and throughout the leadership chain, from the CEO to each contributor.
DevStride's co-founders bring together a wealth of industry experience. After successfully working at their previous company, BriteCore - a complex insurance platform for the property and casualty industry - founders Kujtim Hoxha, Aaron Saloff, and Phil and Chastin Reynolds launched DevStride for the opportunity to fundamentally improve how organizations work.
Their platform has generated excitement throughout the industry, gaining the attention of major capital investors like the Kansas City-based Flyover Capital.
"The DevStride team brings together a rare combination of founder acumen and industry insight," said Dan Kerr, a partner at Flyover who will join the company's board of directors. "We are excited to help catalyze the company at this early stage as they enter the market with a tool that is a huge leap forward in the way executives and teams manage strategic priorities."
DevStride was founded by Kujtim Hoxha, Aaron Saloff, and Phil and Chastin Reynolds. The project and portfolio management platform drives better performance by empowering agile teams to strike a balance between strategic flexibility and operational rigor, leading to unprecedented alignment, productivity, and speed. Their innovative approach to project and portfolio management produces value-based analytics that are critical to driving better business outcomes, improving time to value by 2x.
Website URL: https://www.devstride.com
Company Name: DevStride
Email address: [email protected]