A former Best Buy executive and the co-founder of Code42 Software Inc. have partnered to launch a startup that's all about team-ups.
Scott Moore and Brian Bispala are co-founders of Colaboratory, a digital-based startup to bolster brand-to-brand collaborations, according to an announcement this week.
The startup emerged from Indianapolis-based venture studio High Alpha, which is also a co-founder, Moore said in an interview with the Business Journal. The venture firm backed the startup’s pre-seed funding round, supporting the company's formation at the beginning of this year, he said. Moore did not disclose the amount raised.
Moore spent more than a decade at Richfield-based Best Buy (NYSE: BBY), with roles including chief marketing officer for the retailer's Best Buy Mobile unit. He was later president at the consultancy Tektonic and chief operating officer at the marketing firm Augeo, according to his LinkedIn page.
Bispala was a co-founder of Code42 Software and spent 15 years at the Minneapolis-based cybersecurity and data-protection company.
“A great collab really leverages the strength of two independent brands in a new strategic way that creates attention and excitement for each brand's customers,” Moore said.
To bolster brand growth, the team launched Colaboratory, a digital platform, to help aspiring and seasoned collaborators find and develop brand-to-brand partnerships through the use of data and software.
The idea for Colaboratory formed after Moore noticed that brand collaborations could catch people’s attention, penetrating through digital clutter. “They break through because they're magical, they're exciting, they're different,” he said.
Mainstream examples of recent collaborations include Adidas x Gucci, Lego x Stranger Things and Omega x Swatch, the press release notes.
Beyond well-known brands that have elites to establish connections, the startup seeks to allow all brands to have the opportunity to collaborate, Moore said.
“The emergence of a platform to help brands do brand-to-brand collaborations better is going to unlock a whole new wave of collaborations,” he said. “And then, those brands, whether you're a big brand or a small brand, … We want brands to come together and partner and find new strategic ways to leverage each other's assets, leverage each other's equities, and go to market in ways that delight and excite their customers and capture both relevance and revenue.”
Early customers of Colaboratory have included brands like Great Clips, Northern Tool, Fanatics, the press release said.
Colaboratory currently consists of a five-person team, with three employees, including Moore and Bispala, based in the Twin Cities area and two others who are based in Indianapolis. Moore said he expects to grow the startup's team in both areas.
The startup is now in the process of beginning its seed round, Moore said. Funds will go toward hiring additional software developers, customer success data scientists and customer success talent as well as acquiring new sources for data. Moore did not disclose how much the startup is seeking.
Moving forward, Moore said measurement of the startup’s impact will not be in how many clients or how much in revenue the startup gains but the success its brands see in the marketplace.
"Are they growing faster because they partnered with us? That's going to be the win,” Moore said.
