Knowledge platform Arbolus has raised USD6 million in investment in order to scale the platform to serve large enterprises, consultancies and investment firms.
The future of work is shifting towards an ever growing set of collaborations, with experts brought in to plug the gaps of knowledge when it comes to businesses researching new markets, developing products, defining new strategies and differentiating from the competition. Arbolus helps large organisations build valuable expert networks and maintain knowledge by delivering a unique toolset built on AI and natural language processing capabilities in order to make collaboration and knowledge easier and maximise the value held by the experts.
Arbolus is changing the way knowledge is used in companies and is working with more than 80 customers, including Big Four firms such as KPMG, leading global strategy consultancies and the world’s most innovative companies such as UiPath. The company is looking to extend its reach into the enterprise market and has ambitions to scale to USD100m revenue by 2024.
Arbolus’s USD6 million investment has been led by early-stage UK VC, Fuel Ventures in addition to Plug and Play, one of the most active VCs in Silicon Valley. The 3-year old tech startup saw 7x growth YoY and, in the last 12 months, has built up the team and extended its international footprint with new offices in Barcelona, which became its headquarters, and New York. There are plans to expand its US operations further based on the success to date.
The startup also recently appointed a new chief technology officer, Pau Beltran, who brings 15 years of machine learning and NLP experience from Disney, eDreams, OneMind and others. Pau and his team will be focused on further developing the natural language processing and AI backbone of the Arbolus platform. The company is also investing in the products that will help enterprise clients harness the value of expert consultations as a precursor to large consulting projects.
Sam Glasswell, CEO and co-founder of Arbolus, says: “Having the right information gives you a competitive edge but the typical means of engaging with experts through one hour calls alone is failing to deliver value. These interviews are usually held by a single department and their findings end up lost in PowerPoint presentations or reports. Therefore, companies are only building up a short-term view. We are bringing innovation to the ways companies are working with external experts by using groundbreaking technology to, not just build expertise within organisations, but deliver it in ways that are digestible, searchable and, most importantly, usable for the months and years ahead across different departments.”
Mark Pearson, Managing Partner from Fuel Ventures, says: “Arbolus have done amazing things in its first 24 months and it’s a testament to the entrepreneurial ambition of Sam and Will backed up by their experience of helping to scale a USD1 billion company in their former lives. We want to foster the innovation and disruption Arbolous is bringing to an old-fashioned industry and be the leaders in connecting the dots between the expert used and the information they provide.”
Saeed Amidi, CEO & Founder at Plug and Play, says: “When we first met Arbolus, we immediately knew that their solution was a game-changer. Sam and Will have 20 years combined experience in the expert interview industry so they knew clients’ pains and what processes needed to be improved. We decided to support Arbolus’ goal to create the most agile platform in freelance collaboration and are amazed by the milestones achieved by Will and Sam so far. We are looking forward to enhancing their effort by creating the right synergies with our global network.