SILVER SPRING, Md., May 16, 2017 /PRNewswire/ -- Retrium, the only enterprise-ready solution for agile retrospectives, announced today the closing of over $1M in funding from 10 angel investors. The company plans to use the funding to build additional features in the retrospective tool, including the implementation of security features necessary for large enterprise customers, and to grow the distributed Retrium team.
"Retrium addresses an unmet need for agile teams around the world," said David Horowitz, CEO and co-founder of Retrium. "Borne out of my experience as an agile coach, Retrium provides a platform that enables teams to inspect and adapt their practices in an effort to become more effective, while proactively safeguarding against groupthink, disengagement of team members and other potentially damaging dynamics that occur in many meetings. That's the purpose of Retrium - to provide a technologically relevant solution that encourages equal, anonymous contributions from the entire team to continuously improve performance."
Cofounded by Horowitz and CTO Ryan Detweiler, Retrium has seen early success in building a strong customer base since launching in 2015. These clients range from household brands to innovative startups, including GE Healthcare, Navis, PointClickCare, Ticketmaster and over one hundred others ranging from Fortune 500 household brands to leading tech startups.
"The challenges facing teams during retrospectives are unique," said Bob King, one of Retrium's investors. "It's an interesting paradox to think about an IT team using sticky notes and white boards to discuss how they can work better together and improve the quality of their work. Retrium brings the tools of the Internet to these teams and uncovers unique advantages around engagement and participation to drive even further value for the teams and companies."
Recent findings reported in VersionOne's 11th Annual State of Agile Report further support the need for a retrospective tool as 86% of agile teams are distributed. Further, retrospectives remain in the top 5 agile techniques used with 83% of teams reporting the use of retrospectives, up from 74% in last year's survey.
Retrium is the only enterprise-ready solution for agile retrospectives. Retrium facilitates engagement and collaboration during retrospectives by providing a set of prebuilt facilitation techniques that drive organizational continuous improvement. With over 11,000 retrospectives performed using the tool to-date, Retrium has quickly become the standard for agile organizations. For more information about Retrium's agile retrospective tool, please visit www.retrium.com.
VP Marketing, Retrium