Wayra Spain, Telefónica's open innovation hub, is investing in TransparentBusiness, a SaaS solution for managing remote teams in different locations around the world. The agreement with TransparentBusiness will help strengthen Telefónica's Digital Workplace offering.
TransparentBusiness's solution ensures business continuity for all companies that recommend their employees work remotely. The platform allows companies to implement better work-life balance models by incorporating remote work managed transparently and verifiably.
The proposed solutions to support companies in implementing remote work programs include the launch of “CloudWorking Academy”, the world's first platform focused on training in methodology, technologies, processes and policies for Effective remote work initiatives.
Wayra's investment will help TransparentBusiness develop business with Telefónica, bringing its solution closer to its network of clients around the world, as well as providing global access to the Wayra and Telefónica investor and expert community in Latin America and Europe.
“In a world of continuous change, TransparentBusiness is not only transforming the way we work but also demonstrating that technology can respond positively to the challenges of the future of work and to challenges such as those posed by the Coronavirus, offering the perfect platform for remote work,” commented Paloma Castellano, director of Wayra in Madrid. “In our area, we provide digital transformation consulting to our corporate clients, taking into account culture, processes, and technological building blocks. TransparentBusiness becomes an enabler of cultural transformation towards more flexible and work-life balance models. In this sense, we are very interested in sponsoring this startup at Telefónica,” explains Carlos Rabazo, Head of Digital Transformation Acceleration for Companies at Telefónica.
Founded in 2012 in New York, TransparentBusiness provides a SaaS solution to facilitate The transparent implementation of remote work models for managing contractors and freelancers, as well as for "home office" or work-from-home programs. The platform addresses three challenges: trust, commitment, and accountability. "Our goal is for TransparentBusiness to be synonymous with global transparency for businesses and to support companies' work-life balance objectives by enabling remote work to be efficient, transparent, and verifiable," said Silvina Moschini, founder and president of TransparentBusiness. The company recently announced the completion of its second funding round, raising a total of $6 million through an initial private offering. "Only 2% of venture capital goes to women," added Moschini. "By offering our capital directly to individual investors, we were able to overcome this institutional gender bias." To build a future of work with transparency, TransparentBusiness partnered with Google, Microsoft, SAP, Cisco, ADP, IDB, and Facebook.