Israeli Startup Bites Raises $40 Million for AI Training Platform
Translated & summarized from Walla by baba
Israeli employee training startup Bites has raised $40 million in a Series A funding round led by PeakSpan Capital, bringing its total funding to $55 million. The company's AI platform converts organizational information into personalized training videos delivered via familiar channels. Funds will support expanding its Israeli development center and enhancing its AI engine. Bites aims to improve frontline worker performance and has clients like Unilever and Coca-Cola.
The story in 5 lines · by baba
- Israeli startup Bites secured $40 million in Series A funding for its AI employee training platform.
- The funding round was led by U.S. venture capital firm PeakSpan Capital.
- Bites' AI platform transforms documents into personalized training videos delivered to employees' phones.
- The company aims to improve frontline worker performance and has major clients like Unilever and Coca-Cola.
- The startup was founded in 2020 and has raised a total of $55 million to date.
Israeli employee training startup Bites announced on Thursday it has successfully closed a $40 million Series A funding round. This brings the company's total funding to approximately $55 million since its inception. The round was led by U.S. venture capital firm PeakSpan Capital, which focuses on AI and software growth companies, with participation from existing investors including Vertex Ventures, Horizon Capital, Rittenhouse Ventures, and Lyra Ventures.
The newly raised capital will be used to expand Bites' development center in Israel, further develop its AI engine, and grow its sales and customer support teams. Bites has developed an AI platform that transforms organizational procedures, documents, or ideas into branded training videos. These videos are delivered directly to employees' phones in their preferred language and through familiar channels like WhatsApp and Teams, without requiring a separate app or login.
The company's AI engine also creates personalized knowledge bases and uses a chat interface for employees to access relevant professional information. It integrates with sales, customer management, and HR systems, connecting business data with learning data from millions of employee interactions with the videos. This enables an automated process to identify performance dips in specific branches, shifts, or employees, generate targeted training to address these gaps, deliver it to the relevant staff, and measure the impact on results, such as sales figures for new promotions.
Bites, founded in 2020 by Eran Hefezt (CEO), Tal Negler-Almog (COO), and Hagai Horowitz (CIO), currently employs 30 people across its development center in Tel Aviv and its headquarters in New York. Notable clients include Unilever, Coca-Cola, Shake Shack, Wynn Resorts, The Venetian, and Compass Group, along with companies in the hospitality and retail sectors.
Eran Hefezt stated that the company's development stemmed from his personal experience managing restaurants, where he observed that business success depended on employees' practical execution and knowledge, not just management. Phil Dorr of PeakSpan Capital commented that Bites' platform is specifically designed for frontline workers, unlike most existing training tools, and has been widely adopted by clients due to its positive impact on productivity.
Mentioned
