Zeitworks Hires New CEO, Raises Additional Funding to Democratize Business Process Improvement with Machine Learning
SEATTLE--(BUSINESS WIRE)--Jul 7, 2021--
Today, Zeitworks announced that Jay Bartot will be taking on the role of CEO and will lead the company through its next stage of technology and product development. Co-founder and former CEO Ryan Windham will remain active as a BOD member and assist the company with strategic projects. To accelerate the company’s momentum, JAZZ Ventures and Madrona Venture Group will invest an additional $2M in the company. The additional funding, led by JAZZ Ventures, will support the next phase of product and technology development as well as customer and go-to-market initiatives currently underway.
Headquartered in Seattle, Zeitworks was founded by veteran machine learning application developers and entrepreneurs and top-tier investors with extensive experience backing intelligent automation companies. Zeitworks’ mission is to make work more efficient and rewarding for organizations by democratizing access to process measurement and improvement methodologies. Historically, insights into process efficiency have been challenging to achieve without manual, expensive, and time-consuming consulting engagements. In collaboration with select pilot customers, Zeitworks is developing a SaaS platform that leverages machine learning technologies to discover, analyze, improve, and ultimately automate customers’ business processes — without interrupting users or requiring complex and time-consuming backend systems integrations.
“The demand for transparency into the efficiency of business processes in the enterprise continues to grow,” said CEO Jay Bartot. “The key to making improvements in efficiency starts with providing insights into the performance of business process teams and workers. With our innovative product and technology solution, we can provide that transparency — not only exposing the bottlenecks but also driving actionable recommendations for improvement.”
The ability to passively measure a worker’s performance is a very complex and challenging problem. Using proprietary technology being developed by the company, Zeitworks discovers and measures business process execution automatically as users perform their work navigating multiple desktop applications, browsers, and backend systems. By leveraging large-scale cloud data processing technologies, the solution learns from massive amounts of human behavior data it collects to find insights and improvements — without disrupting users or IT staff and saving countless hours of consulting work and workshop sessions.
“We are very bullish on the impact AI and machine learning will have transforming and unlocking productivity in the modern enterprise,” commented John Lee, a partner at JAZZ Ventures. “We are more excited than ever in the massive opportunity in front of Zeitworks. Jay’s extensive track record building innovative data and machine learning-driven products makes him uniquely positioned to lead the company through the next stage of product and technology development.” Lee will take a BOD seat as part of the additional financing.
The team incubated Zeitworks at Madrona Venture Labs (MVL) in 2019, led by Jay and Zeitworks BOD member and co-founder Ben Elowitz. Jay will leave his CTO post at MVL to become Zeitworks’ CEO and will remain an advisor to MVL. “We’re very excited for Jay,” said Mike Fridgen, Managing Director of Madrona Venture Labs. “The unique DNA of our team is that we are entrepreneurs and operators. And we are with our founders and companies from day one, for the long run. Jay has always had a strong affinity for Zeitworks’ mission and the opportunities for deep technology breakthroughs that are in development. We look forward to supporting Jay and Zeitworks in the next chapter of the company.”
For more information, please visit www.zeitworks.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20210707005231/en/
CONTACT: Erika Shaffer
KEYWORD: UNITED STATES NORTH AMERICA WASHINGTON
INDUSTRY KEYWORD: PROFESSIONAL SERVICES DATA MANAGEMENT OTHER PROFESSIONAL SERVICES TECHNOLOGY OTHER TECHNOLOGY HUMAN RESOURCES SOFTWARE
Copyright Business Wire 2021.
PUB: 07/07/2021 11:30 AM/DISC: 07/07/2021 11:31 AM