Why We Invested · New York Life Ventures
Investment thesis
Scribe's process-documentation technology holds significant promise for adoption within the insurance sector and broader industries.
We're excited to have also been invited to invest in Scribe’s latest funding round and believe their technology holds great promise for the insurance industry and beyond.
Why the firm invested
Scribe generates significant ROI and accelerates learning by enabling enterprise business units to efficiently capture and share knowledge.
With Scribe, New York Life’s business units are enabled to efficiently capture and share how-to knowledge,” explains Sean Madgett, head of Business Development for NYL Ventures. “This has yielded significant ROI for the company and increased the rate of learning at New York Life.
Firsthand internal usage demonstrated that Scribe created meaningful efficiencies and standardized best practices across multiple enterprise teams.
Over the past several years, we have witnessed firsthand how reliance on Scribe has grown across multiple teams, created meaningful efficiencies, and delivered value by standardizing best practices for our teams,” adds Tim Del Bello, head of Investments for NYL Ventures.
Product
Scribe's AI-powered platform enables users to record processes and instantly create step-by-step shareable guides to increase productivity.
Scribe’s AI-powered platform enables users to capture processes and instantly create step-by-step sharable guides, saving time and increasing productivity.
Scribe reduces administrative burdens, allowing employees to focus on higher-impact work.
By significantly reducing administrative burden, Scribe empowers our people to focus on impactful, higher-level work, positioning us to even better serve the needs of the company’s policy owners.
Traction
Scribe has achieved organic adoption across 195 countries and over 97 percent of Fortune 100 companies.
The company has experienced viral organic growth with adoption taking place across 195 countries and over 97 percent of the Fortune 100 companies.
What founders can learn
- What actually moved the decision: New York Life Ventures wrote that Scribe generates significant ROI and accelerates learning by enabling enterprise business units to efficiently capture and share knowledge.
- The traction evidence that carried weight: New York Life Ventures wrote that Scribe has achieved organic adoption across 195 countries and over 97 percent of Fortune 100 companies.
Source and provenance
Why We Invested published by New York Life Ventures on newyorklife.com (first-party source). Read the original
