Balloonr

Balloonr is a software-as-a-service (SaaS) platform designed to help companies improve collaboration and decision-making.

The platform enables employees to discuss work-related topics anonymously. This helps remove biases, and it also helps limit concerns about voicing opinions in group settings.

Since launching in June 2015, Balloonr has attracted notable customers including BMW, Capital One, and the Los Angeles Angels.

In addition, the company has received funding from several top venture firms and accelerators, including 500 Startups, Wavemaker Partners, and DreamIt Ventures.

Recently, business collaboration software companies have become some of the most highly-valued start-ups in the world, as well as prime acquisition targets — for example:

In May 2017, Jive, a customer collaboration software company, was acquired by Aurea for $462 million…

Communication tool Slack is now worth more than $5 billion...

And SurveyMonkey — a SaaS survey platform that was recently ranked No. 6 on Forbes’ Cloud 100 List — has acquired three survey platform start-ups in four years.

The inspiration for Balloonr started when CEO and Co-founder Amanda Greenberg was working for the U.S. Environmental Protection Agency and Department of Energy.

She noticed that current business tools — meetings, e-mails, and other collaboration platforms — didn’t properly address the way people worked in a group setting.

For example, these tools were too susceptible to various biases, and they made employees fearful to speak up.

As a result, businesses using these tools weren’t making the best decisions, and were leaving billions of dollars on the table.

So, based on the results of hundreds of studies in the areas of cognitive science, neuroscience, public health, and psychology, Greenberg created a new type of platform called Balloonr.

Essentially, Balloonr removes common workplace biases, and enables people to share information and make decisions the way they prefer to.

Here’s how it works:

First, a person starts by launching a “balloonr” — these are questions, prompts, or general topics to begin a discussion. Once launched, that person can invite others to join.

Next, employees can launch their own “balloons” to advance the conversation. These balloons can be questions, comments, or polls.

The entire process is anonymous; however, users can opt to show their name in order to receive credit for their contribution.

According to Inc., Balloonr “is like a ‘secret ballot’ on steroids…if knowledge is power, Balloonr may hold the keys to the kingdom."

After using Balloonr, customer Capital One noted: “We were shocked by the ‘humanness’ of the information shared on Balloonr — the amount of new thinking. We would have never been able to get this level of insight.”

By using Balloonr’s platform, companies can:

Save time — no need to set up lengthy meetings with the whole team...

Achieve a new level of transparency without the need for focus groups…

And conduct honest reviews with team members and clients.

Balloonr is available to companies through an annual subscription. 15 companies are already paying customers, which translates to $250,000 in annual recurring revenue.

Balloonr uses what it calls a “land and expand” strategy to acquire customers. This means it generally starts with a pilot program with one team or division within a company, and then leverages that relationship to expand the account.

On average, it takes 7 months for Balloonr to expand within a company — but when it does so, the average annual contract value increases by 540%.

Balloonr will soon start paid pilot programs with Google, Airbnb, and others. This will result in an additional $1 million in annualized revenues.

In September 2018, Balloonr will launch a second version of its platform. This will include updates to the overall user experience, ready-to-use templates (called “flight plans”), and mobile apps for iOS and Android.

Team Background

Amanda Greenberg - Co-Founder & CEO

Prior to starting Balloonr, Amanda worked as a writer for Forbes magazine.

She formerly served as an associate for public health communications for The Cadmus Group, a consulting company serving areas including energy, water, and public health. While with Cadmus, Amanda completed strategy campaigns for the U.S. Environmental Protection Agency and the Department of Energy.

She previously served as a graduate research assistant at the University of North Carolina at Chapel Hill. During that time, she worked as a principal investigator for a research study investigating the effectiveness of training materials for environmental health government employees.

Amanda graduated first in her class with a Bachelor’s degree in Environmental Studies from Dartmouth College and earned a Master’s degree in Environmental Health from the University of North Carolina.

Noah Bornstein - Co-Founder & CTO

Before starting Balloonr, Noah served as a UX Designer for IBM.

While there, he led the redesign and modernization of the company’s Digital Experience portfolio, a software platform enabling companies to build their own websites.

For eight months, he served as a tech lead for a special project for Bloomberg, a financial and software company.

In addition, he served as a strategy consultant and specialized in web development for Crossroads Campaigns, a Washington-based political consulting firm.

Noah earned a Bachelor’s degree in Recording Arts from the International Academy of Design and a Master’s degree in Human-Computer Interaction from Carnegie Mellon University.

Ray Wakiyama - Growth

Before joining Ballonr, Ray worked for ElasticBox, which helps companies expand to "the cloud.” In June 2016, ElasticBox was acquired by CenturyLink, a telecommunications company.

Ray earned a Bachelor’s degree in Business Administration and International Business from California State Polytechnic University and an MBA from California State University-Long Beach.

Natalie Vanderveen - Design

Natalie previously served as a designer for thirteen23, a software company focused on mobile application development.

In addition, she served as a visual designer for IBM. While there, she served on the “Watson team,” which focuses on the company’s artificial intelligence computer system.

Natalie earned a Bachelor’s degree in Visual Communication from The Ohio State University.

Jamie Bate - Engineering

Jamie spent more than four years as a software engineer for Tidepool.org, a non-profit organization focused on helping those with Type 1 diabetes manage their condition.

In addition, he formerly served as a software engineer for Aderant, a software company focused on solutions for companies in the legal industry.

Jamie earned a Bachelor’s degree in Geological and Earth Sciences from University of Otago.

Co-Investors

500 Startups

Prominent seed fund and accelerator program founded by PayPal and Google alumni. Investments include AngelList, Unbounce, and Behance.

Siemer Ventures / WaveMaker Partners

Early-stage VC with headquarters in Los Angeles and Singapore. Investments in more than 150 Internet, Mobile and Enterprise technology startups. Member of the DFJ Global Network.

DreamIt Ventures

Top-ranked incubator based in NYC. Portfolio companies include SeatGeek, 1 Doc Way, and LevelUp.