Washington, DC, 8 March 2023- FOUNT Global, Inc. stated that it has received USD 8M in investment to assist businesses in determining the causes of low employee morale and productivity as well as the top workplace issues that need to be addressed. As investors, Osage Venture Partners and Grotech Ventures joined Lavrock Ventures to lead the Series A investment. Since it separated from the employee experience (EX) consultancy, TI People, in January 2022, FOUNT has raised a total of $10.75M in investment.
“Post-pandemic shifts in employee expectations and CEOs emphasizing efficiency across their global organizations have put pressure on HR leaders looking for smarter ways to retain the employees most important to their businesses and remove friction from their daily work,” said Daniel Hanks, General Partner at Lavrock Ventures and member of the FOUNT Board of Directors. “By capitalizing on these trends and solving a business issue that is both current and timeless, FOUNT has gained substantial momentum in major businesses. We are ecstatic to be traveling together.”
Unmanaged friction costs each Fortune 500 firm USD 764M a year in lost productivity, burnout, and attrition. Because of its EX industry roots, FOUNT has a unique understanding of the challenges involved in assessing the many cumulative sources of friction that lead to employee disengagement and departure. Some of the top companies in the world that are at the forefront of friction management are represented in the business’s customer base, including Adidas, Siemens, Baloise, Northwell Health, and TEKsystems.
Northwell Health’s David Gill, VP of Team Member Culture and Experience, continued, “Northwell Health is dedicated to supporting a healthy workplace and enhancing people’s wellbeing as one of the country’s Best Places to Work. We see a chance to delve deeper and broaden our present listening technique with the help of FOUNT’s solution in order to give our team members a consistent and long-lasting experience. The competent and enthusiastic Customer Success team at FOUNT has really impressed us with their dedication to helping us achieve our objectives.”
By identifying the solvable areas of friction that are most important to workers, FOUNT’s clients believe the SaaS solution complements current employee survey solutions like Glint, Qualtrics, and Medallia. The additional cash will be utilized to expand the product and technology infrastructure and introduce new features that target important talent sectors.
Christophe Martel, CEO of FOUNT, said, “To lessen the obstacles employees face at work, which is an issue shared by HR and business executives, is the focus of our solution. Our customers may take a particular action and get a measurable Return thanks to the amount of information FOUNT data offers. We are lucky to collaborate with a group of investors that embrace our goal of making work less of a chore.”
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