NEW YORK, March 22, 2022 /PRNewswire-PRWeb/ -- Fairwords, the first AI-powered communications protection software that proactively trains employees as they type, today announced it has successfully closed a $5.25 Million Series A raise led by Fintop Capital.
Fairwords' software was designed to help great companies committed to strong and resilient cultures foster inclusive, compliant and fair business communications. Multinational and niche brands who adopt Fairwords can rest assured their teams are armed with the proactive guidance, tools and training they need to master communications and prevent cultural and compliance crises and lawsuits.
"We are very grateful to our partners at Fintop and plan to use this round to accelerate Fairword's go-to-market strategy so that we can serve as many customers as possible. The Society for Human Resources Management (SHRM) reported that the cost of turnover due to people leaving toxic workplaces is estimated at $223 billion. We believe that poor communications drive toxicity and kill culture and we're on a mission to help companies establish strong communications cultures," said Fairwords CEO Tom Bubeck.
"That is one of the reasons Fintop was so bullish about Fairwords," said Rick Kushel, General Partner, Fintop Capital. "It's unlikely that any company intentionally promotes unfair or negligent communications. Having a software-based remedy that helps educate employees as it guides them towards more equitable business communications is a win-win for all."
Fairwords' customers primarily use the platform to:
- Eliminate toxic culture
- Reduce risk of litigation, employee complaints, brand impact and financial loss
- Show the effectiveness of their training and compliance programs through the use of anonymized dashboards that evaluate words flagged, words in use, and improvement over time
- Provide in-the-moment training to employees as they type, reinforcing annual trainings in a timely and relevant way
Since Fairwords buyers are typically HR and compliance leaders, the company has designed its proactive communications training to help them in a number of ways — ranging from providing them with the anonymous analytics they need to provide the efficacy of their programs to helping them elevate communications cultures within their organizations so they can help all employees create and receive communications that are inclusive, compliant and fair.
Kushel commented, "The strength of Fairwords' software offering is another reason we are backing the company. Unlike other platforms, Fairwords helps people before a message is sent, not after the fact. It is also well suited for the growing number of teams that are remote or hybrid in nature."
Since Bubeck took the helm, the company has rounded out its executive team and is now focused on vertical sales of its award-winning software.
In addition to using the funds to support Fairwords national sales and marketing, part of the capital will also be used to support the company's product roadmap, which will enhance user and buyer experiences with a focus on continually optimizing AI-capabilities and overall product usability.
"By the end of next year, our hope is that Fairwords will shift from HR and compliance leaders' secret weapon into a concept that most businesses understand and embrace," said Bubeck. "What we are doing goes far beyond business value. It's about better culture."
To learn more about Fairwords (formerly Honcho) please visit http://www.Fairwords.com.
About Fairwords
Fairwords, the first AI-powered communications protection software that proactively trains employees as they type, was designed to help great companies committed to strong and resilient cultures to foster inclusive, compliant and fair business communications. Multinational and niche brands that adopt Fairwords can rest assured their teams are armed with the proactive guidance, tools and training they need to master communications and prevent cultural and compliance crises and lawsuits. http://www.Fairwords.com
About Fintop Capital
FINTOP Capital is a venture capital firm focused on Financial Technology (FinTech) companies with offices in Nashville, Tenn.; St. Louis, Mo. and New Jersey. Run by financial leaders and operators who have built successful startups themselves, the firm understands the ups and downs of the startup world. They bring strong networks, experience and capital to entrepreneurs building B2B service-enabled SaaS and software companies in the FinTech space. To learn more, visit http://www.fintopcapital.com or follow @fintopcap on Instagram and LinkedIn.
Media Contact
Cassady Nordeen, Fairwords, 1 7186440273, cassady@purposenorthamerica.com
SOURCE Fairwords
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