Posted on February 22, 2018 by staff

StatusToday raises £2.8m million for new tech and talent


StatusToday has raised $3.91 (£2.8m) funding in a seed round to improve the company’s technology and acquire new talent.

The company uses data and artificial intelligence to analyse employees’ actions, improve efficiency and reduce risk.

The round was led by London-based venture capital company LocalGlobe, with Notion Capital and firstminute capital.

The London- and Ukraine-based start-up has 200 companies from 22 countries registered to use its services.

“We are building the world’s largest information source on employee behaviour and know that companies and employees will both benefit from the insights we can provide,” said StatusToday founder Ankur Modi.

“We want to get as many people using it as possible.”

Saul Klein of LocalGlobe, which led this round of funding, said: “StatusToday is revolutionising 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 said: “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.”

On its blog the company stated that it plans to enable StatusToday as a self-service tool, expand its Al modelling to enhance understanding of employee behaviour and expand its multi-national team with significant increases in data science and engineering talent.