Plasticity, formerly known as the Smile Epidemic, developed the app thatFibernetics is using for its intracompany social network. All employees share posts, photos and other content. The network has strengthened the bond between employees, Stix says.
Stix and Schnarr were so impressed with what Plasticity did for the company that Fibernetics Ventures invested $1.9 million in money and services into the startup.
“It was after they started using the product and saw the changes in their own organization around culture,” says Plasticity co-founder Jennifer Moss. “That really shifted their decision to invest in a big way.”
The investment came at a crucial point for the startup. It had completed local incubator and accelerator programs and was now on its own.
“We actually had customers, but we were still early stages and we were just getting traction,” Moss says. “They came in, and not just bridged us (financially), but gave us the ability to refocus back on the product.”
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