FRENCH’S STARTUP HeyTeam LANDS €10 MILLION FOR ITS INNOVATIVE HRtech AND EXPANDS TO ITALY AND SPAIN
Startup HeyTeam believed to be a PeopleOps platform, which focuses on streamlining the employee journey by creating workflows that are more personalized and collaborative aim to increase employee recognition and retention has just landed €10 million, according to a source familiar with the matter.
The Paris-based company has today announced its fresh funds, which as a result will embark on plans to launch into Italian and Spanish markets in order to consolidate itself as a European leader in the optimization of employee experiences.
Meanwhile, the software as a service (SaaS) product is designed to support HR teams at each part of the employee journey – from onboarding to offboarding which includes every step in between. However, the fresh fund was led by 360 Capital Partners coupled with participation from All Iron Ventures, as well as business angels such as Axel and Hugo Manoukian (MoovOne), Olivier Severyns (Snaphisft), Jonathan Azoulay (Talent.io), and Sabina Tommasi (Intel Corporation).
HeyTeam which has a dual objective – to increase employee commitment and loyalty by making their integration into the company as seamless as possible with the aid of enhanced HR tools was founded in 2017 by ‘Nathaniel Philippe’. Over the years it’s believed employee and HR interactions have traditionally centered around static, impersonal processes while focusing on administrative tasks without much attention and communication with employees. However, this is where the subject HRtech startup is changing the concept and is doing so at a crucial time.
In view of this development, ‘Nathaniel Philippe’ explained: “As the ‘big resignation’ is about to hit a job market that is already strained, due to massive recruitment processes and talent shortages, retaining candidates once found will be the challenge of the decade. We are very happy with and proud of this new round that will allow us to continue promoting the digital transition at work. Employee relationship management, trust, and support cannot be sustained without strong infrastructure and good tools”.
Moreover, the subject platform makes the employee workflow more personalized, enjoyable, and adaptable at scale. As a result, facilitates contact and connection in all key moments of the worker’s life cycle. The tool with the aid of automated marketing processes proactively proposes actions that increase the well-being of employees – for instance, at times when an employee needs additional support such as for parental leave, salary increase, or moving house, alternatively, in situations that employees need more adaptability from their employer, such as when taking an internship, work-study combo, part-time work, equally for people with disabilities. The startup HeyTeam product enables this with full data security, compliant with GDPR.
In the meantime, the five-year-old company has reportedly secured about 50k users through more than 200 medium and large companies across 70 countries that include the likes of Naqaparo (ex Buffalo Grill), SNCF, Prisma, Octo Technology, MAIF, Jellysmack, Believe Digital and Kiloutou. With the current development, it’s clear that the aim here is to expand the business model into new markets, precisely with Italian and Spanish companies, as well as multinational organizations from other countries that have a Spanish/Italian presence.
Responding to this development, ‘Hugo Mardomingo’, partner and co-director of All Iron Ventures, added: “We have been following the latest trends in workflow automation and we see a huge opportunity in human resources for a new SaaS platform adapted to the new era to emerge. Nathaniel’s vision captures all these aspects”. However, the company says the latest fundraise will be used to reinforce the tech used as well as double the team’s headcount in the coming months.
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