Announcing Woven’s $1.5M Seed Round — Modernizing Multi-Unit Business Operations
November 15, 2022
Today we announce Woven secured a $1.5M seed round led by existing Woven power user, Glow Brands, owner and operator of approximately 197 Sun Tan City, Planet Fitness and Buff City Soap locations across the United States. Bootstrapped up to this point, the use of these funds will revolve around revenue growth programs.
“After years of watching companies prioritize growth at all costs, we purposely delayed deploying capital into sales and marketing until product market fit and our customer success process were clearly proven,” said Matt Goebel, CEO and founder of Woven. “With a partner like Glow Brands leading the investment round, it not only validates those goals were achieved, but we are now positioned to leverage Glow’s multi-brand operation to drive deeper user insights and stronger product innovation.”
“Woven has been instrumental in transforming and growing our business,” said John Piwetz, CFO and executive vice president of Glow Brands. “Thanks to Woven, Glow Brands has gained numerous efficiencies and improved managerial effectiveness. We have reallocated more than $1 million of managerial time previously spent on manual or redundant tasks to other growth-focused initiatives, creating an outsized return on our Woven investment. Partnering with a company that has so quickly provided this level of value to us – and many in the franchising world at large – was a no-brainer.”
You can learn more by reading the press release on PR Newswire.