Preciate Changes Name to Scoot and Raises $12 Million in Series A Funding Round! 

We’re changing, and certainly for the better. With a name change and closing our Series A, there has been lots of very exciting work happening behind the scenes. Now, we are ready to tell everyone the good news and get the word out about Scoot! Read on to hear more about the reason for the name change and details about the Series A funding round.

Becoming Scoot

Our company name has officially changed from Preciate to Scoot. We are so excited to make this announcement as our company continues to gain momentum and we make positive changes to the benefit of our product and ultimately our users. 

The change to Scoot comes as demand for our virtual meeting platform has continued to grow, and as enterprises around the globe struggle to combat remote employee fatigue and disengagement. Contrasting those old platforms with static images pinned to a screen, the name “Scoot” emphasizes the importance of movement and energy in hosting successful meetings.

As our CEO, Ed Stevens, put it, “Scoot is a fun name, and it reflects the energy our product brings into meetings. We think it will help more companies recognize that their virtual meetings can be more engaging, addressing employee detachment in the modern hybrid workplace.”

Closing the Series A

We are also thrilled to formally announce the closure of a $12 million Series A funding round led by Woodland Capital. With this significant investment, the Scoot team has already begun to pour resources into product development and scalability to serve a growing set of global customers. To date, companies of all sizes have adopted Scoot to increase engagement in a variety of virtual settings, and this investment allows us to continue to revolutionize virtual meetings using our patented Social Presence® technology. As Ed Stevens, our CEO, said, “This Series A financing, closed in the midst of a significant tech bear market, proves there is a massive need for Scoot. We’re going to continue expanding our platform and making it better, all while global enterprise demand for our product expands.” 

Woodland Capital is an investment company that helps entrepreneurs transform their visions for disruptive business-to-business offerings into successful, high growth software companies. 

We are so happy to have Gabriel Goncalves, Managing Partner at Woodland Capital, joining Scoot as Executive Chairman of the Board. He put it best when he said, “We have all seen and felt first-hand the frustrations of legacy virtual meeting platforms in the past few years, and Scoot offers a fresh alternative to the sea of silent black boxes that has come to be synonymous with remote work. We know without a doubt that there is a huge opportunity to expand Scoot’s presence around the globe.” 

It’s this understanding of our vision that makes us know we have found the right partner for the mission at hand: dramatically increasing attention and engagement in virtual meetings.Want to learn more? Read more about the Scoot virtual meeting platform, or schedule a demo from our team.