Wegrow, a software platform enabling companies to share and scale business best practices, has raised €7 million in a Series A funding round.

Nauta led the round, with participation from Wille Finance and existing investors Shapr Ventures, Scalefund, VU Venture Partners and she1K.

Wegrow’s AI-powered platform aims to a costly and widespread issue at large organisations. It says it removes organisational silos between different geographies, business areas and functions within a large group, enabling them to save time and boost profits by streamlining the collection, sharing, and reuse of business best practices.

Harvard Business Review estimated that Fortune 500 companies lose approximately $31 billion annually due to this inefficiency.

“Whenever a team reinvents the wheel instead of re-using a proven best practice, they and their company waste time and money” said Arnaud Sliwa, CEO and Founder of Wegrow. “Having spent 15 years in multinational corporations like Danone, Suntory, and General Mills, I was shocked to see how much time and money was wasted due to this. Our mission at Wegrow is to eradicate this problem, which affects any company operating from several locations.”

The new funds allow Wegrow to expand its platform’s capabilities beyond marketing and sales, introducing customised AI-driven solutions for finance, supply chain, R&D, and human resources teams.

Arnaud added, “Ultimately, three things matter: saving time, saving money, and making the process engaging. Each department has its own workflow, and our ability to adapt to these unique processes and deliver the appropriate best practice at the right time will set us apart in the future.”

Borja Breña, Partner at Nauta Capital, said, “Every company in the world is trying to increase productivity and profits and reduce inefficiencies and waste of resources. Wegrow enables large companies to achieve all of the above by connecting and curating their teams’ knowledge base.”