AI firm StatusToday has raised $3.91m to grow its employee insights service.
The firm’s Seed was led by Saul Klein’s LocalGlobe and drew support from Notion Capital and Brent Hoberman’s Firstminute Capital.
StatusToday leverages data and AI to analyse employees’ actions in ‘real-time’.
“We are in the ‘let’s change the way you work’ business,” said StatusToday’s co-founder and CEO Ankur Modi. “We’ve already seen lots of changes in where people work, when they work and the range of devices they use. StatusToday is a service designed for the modern workplace, that helps companies understand their effectiveness in this new environment.”
Modi met his co-founder Mircea Danila Dumitrescu at Entrepreneur First and founded the business in 2015. Before that, he spent five years at Microsoft where he led insights and extensibility projects for Office.
Dumitrescu is a former competitive programmer who specialises in tech architecture and was previously the deputy CTO at Shopcade and headed up security and architecture at Just Eat.
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StatusToday, which has three patent-pending technologies, launched in beta mid-last year and claims to have signed up 200 companies from different 22 already.
The cash will be used to attract more clients, continue improving its AI and to boost its team. StatusToday currently employs 14 people, based in London and the Ukraine.
Modi continued: “We are building the world’s largest information source on employee behavior and know that companies and employees will both benefit from the insights we can provide. We want to get as many people using it as possible.”
Saul Klein, co-founder of LocalGlobe, went on to explain why he decided to back the startup.
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“StatusToday is revolutionizing the way managers think about their teams and their productivity.
“We are very excited to be working with them. We believe StatusToday will bring a new transparency to the workplace that will benefit everyone.”
Brent Hoberman of Firstminute Capital and co-founder of Lastminute.com, added: “The potential to use data and AI to provide employee insights is a huge area of potential that is largely unexplored. StatusToday is carving out a unique niche and we look forward to watching the service expand and succeed.”
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