Efficiency in the workplace has always been a paramount concern for businesses. However, with the advent of remote and hybrid work setups brought about by the COVID-19 pandemic, understanding and optimizing employee productivity has become more challenging than ever. Insightly Analytics, a trailblazing tech company, is stepping up to provide solutions to this age-old problem, backed by a seed funding round announced today.
“The future of work is here now,” declares Sudheer Bandaru, the founder and CEO of Insightly, referring to the widespread adoption of remote and hybrid work arrangements across industries. With no immediate plans for a full return to the office, businesses need effective tools to manage and improve work efficiency in this new landscape.
Bandaru notes that many organizations, including technology-driven companies employing software engineers to tackle complex problems, are relying on outdated approaches and gut feelings to assess employee productivity. The result is that most companies have limited insight into their workforce’s efficiency, let alone a strategy to enhance it.
This is where Insightly steps in. The company offers tools that automatically map the work completed during software engineering processes and provide accessible analyses through dashboards. These dashboards offer leaders key metrics and real-time snapshots of employee productivity. Companies can now monitor how long each phase of the development cycle takes, identify bottlenecks, and take actionable steps to resolve them.
Insightly’s services extend beyond pure technology companies, as Bandaru points out, “In today’s world, every company is a software company, and the speed and quality of software delivery heavily define an organization’s success.”
Many companies are falling short in this regard, with research from payment company Stripe indicating that inefficient software development processes cost businesses up to $300 billion annually. Improving technology efficiency is a top priority for nine out of ten companies, but a significant number lack the know-how.
Insightly’s rapid growth since its commercial launch just six months ago demonstrates that its solutions resonate with clients. The company has already onboarded approximately 50 customers, collectively employing around 12,000 software engineers whose productivity is under analysis.
Crucially, Insightly’s services are adaptable to various company sizes and geographical locations. Early adopters range from teams with only 50 engineers to those with over 800. The company’s clients hail from different parts of the world and subscribe to Insightly’s software-as-a-service model, paying a monthly fee per engineer they wish to integrate into the platform.
Insightly’s remarkable early success has piqued the interest of investors. The company’s seed funding round, announced today, has raised $1 million from a diverse group of investors, led by Together Fund, a venture capital fund established last year by prominent technology industry leaders.
“Engineering efficiency is one of the most significant factors for business performance in today’s world,” says Girish Mathrubootham, CEO of Freshworks and one of Together Fund’s founders. “Enabling engineering teams with actionable insights to help them identify and resolve bottlenecks will be crucial.”
Other investors include tech and product leaders from companies like Idea, GitLab, Square, Google, and Amazon, many of whom face challenges similar to those Insightly addresses. This investor lineup is pivotal for Bandaru, as it underscores the company’s appeal to its core customer base.
Integrating Insightly’s technology takes just a few minutes, without the need for new coding. The funds raised will support further product development, including customization to meet specific client needs, as well as investments in sales and marketing efforts. With Insightly Analytics leading the way, businesses can now harness data-driven insights to revolutionize work efficiency in the modern world of work.