ANN ARBOR, Mich.--(BUSINESS WIRE)--Give and Take, Inc., a startup that brings scalable knowledge collaboration technology to enterprises, today announced the launch of Givitas, its knowledge collaboration platform. The company has raised $2.2 million from investors including RPM Ventures, Grand Ventures, Invest Michigan, strategic angel investors, and Larry Freed, the CEO. The funding will fuel continued development of Givitas’ proprietary technology platform, expansion into new markets, and staffing.
Give and Take is rooted in cutting-edge academic research from the University of Michigan and Wharton School of Business showing that a giving culture leads to positive business outcomes like increased employee efficiency, productivity, retention, and engagement. Our work is inspired and influenced by the award-winning work of our founding team:
- Dr. Wayne Baker: network science pioneer, University of Michigan Ross School of Business professor, author of Achieving Success Through Social Capital
- Cheryl Baker: co-creator of the Reciprocity Ring; social capital and social science innovator
- Dr. Adam Grant: organizational psychologist, Wharton professor, New York Times bestselling author of Give and Take
Give and Take will be led by President and CEO Larry Freed, also an investor in the company. Freed is a well-known entrepreneur, business leader, speaker, and author of Managing Forward and the bestseller Innovating Analytics. He’s best known for taking Ann Arbor-based customer experience analytics firm ForeSee from its inception in 2001 to a successful exit in 2013 that returned over 22 times the capital originally invested.
“Fortune 500 companies lose more than $31.5B a year when employees fail to share knowledge effectively, and two-thirds of Americans are not engaged at work, costing up to $600B each year,” said Freed. “These are issues that hit close to home for every business leader. Smart companies understand that empowering and enabling employees to share knowledge and information easily, efficiently, and effectively not only fosters a giving culture, but also speeds up response times, drives employee engagement, and improves business outcomes.”
“We’ve been helping companies leverage the concepts of generalized reciprocity and social capital to improve business outcomes since 1999,” said Dr. Wayne Baker, University of Michigan professor, co-founder and Give and Take board member. “It’s exciting that we can now use technology to scale these concepts and bring them to a much wider audience.”
“Michigan has an incredibly rich startup environment, and Larry and his team have proven they know how to build and deliver best-in-class technology solutions,” said Tony Grover of RPM Ventures, the lead investor. “Give and Take is poised to bridge the gap between existing knowledge management platform and collaboration software, making it easy and natural to ask for or give help in less than five minutes a day.”
Givitas is currently in beta, and the Rotman School of Management at the University of Toronto and the Center for Positive Organizations are among a number of beta clients.
“We use Givitas with our students to further embed giving into the culture of the school and as a way to scale-up the opportunities for doing so,” said Bill McEvily, Professor of Strategic Management at the University of Toronto’s Rotman School of Management. “As a result, we have seen students access valuable resources through the platform, build community, and in the process learn about the power of giving for networking.”
About Give and Take
Give and Take takes the concepts of generalized reciprocity and social capital made famous in Wharton professor Adam Grant’s bestselling Give and Take and delivers it to enterprises in an accessible, scalable, measurable platform called Givitas. By fostering a giving culture, companies of all sizes drive positive business outcomes like increased employee efficiency, productivity, retention, and engagement. Give and Take is headquartered in Ann Arbor, Michigan and online at www.giveandtakeinc.com.