Please welcome Workstream.io, the company helping data teams manage critical data assets
Meet Workstream.io, the latest addition to Lerer Hippeau’s portfolio.
HQ: New York
Founders: Nicholas Freund and Chris Ibarra
The problem: Today, most data teams find themselves grappling with a constant stream of one-off requests and asks from various stakeholders. In order for businesses to become truly data-driven, analysts need to focus their time and energy on activities that drive long-term value and build cross-departmental trust. Doing that requires innovative approaches to digitizing and managing data, which has the potential to transform the way businesses operate.
Workstream.io’s solution: Workstream.io boosts data teams’ productivity by helping them manage critical data assets by integrating directly into the analytical tools they’re already using. The product helps data teams curate, certify, manage, and track the growing number of data assets required to support an organization’s decision making. Workstream.io is purpose-built and dynamically integrated with best-of-breed tools in the modern data stack, as well as existing workflow and communications tools. It’s designed specifically around use cases that are frequently encountered in data workflow, to streamline and automate repetitive, low-value activities, so that analysts and data scientists can focus on more strategic, high-value work.
Origin story: We first met Nick when Workstream.io was little more than a thesis. From the outset, it was clear that Nick’s experience at Bettercloud and Tesla had given him a deep understanding of the problems data teams encounter and we got a front row seat to watch his team build the solution. Workstream.io is incredibly well-positioned to take advantage of major shifts in enterprises as data becomes more abundant, richer, and as hybrid work environments continue to increase the need for better workflow and collaboration among data teams and business units.
Why we’re betting on it: As data usage becomes central to decision-making across all kinds of industries, analysts and data scientists are playing increasingly strategic roles. Despite their growing importance, they lack the tools of more traditional business functions and much of their daily workflow consists of repetitive support tasks. Workstream.io improves the productivity of data teams by streamlining their interactions with different stakeholders within the organization. With the shift to remote and hybrid work, we’re seeing a growing opportunity for collaboration embedded around work itself and believe there is white space for Workstream.io to become the dominant player for data teams. Workstream.io is set to become the system of record as the collaborative suite for data assets within organizations.
Our take: Remote and hybrid work require more collaboration and digitization of team workflows. Inconsistent management of data assets can prevent organizations from executing well and expeditiously. In order for businesses to become truly data-driven, team members at all levels of businesses and across all units will need more consistent access to data to support decision-making and answer function-specific questions. The proverbial “future of work” demands solutions like Workstream.io’s.
Further reading: “Workstream nabs $7M to streamline analytics workflows for enterprises” via VentureBeat
