Teamspective Lands $980K to Expand Its Employee Engagement Solution

Employee engagement start-up Teamspective announced it has raised $980,000 in pre-seed funding. The company stated the money will go towards further development of its employee engagement solution, as well as company expansion.

More About Teamspective

Based in Helsinki, Teamspective was co-founded in January 2020 by a team of entrepreneurs: Ian Tuomi, Jaakko Kaikuluoma, Jose Kantola and Juuso Mikkonen. Its SaaS-based solution provides companies with people analytics and solutions derived from a combination of organizational network analysis (ONA), engagement pulse surveys, 360 feedback and a proprietary private large language model, all with the aim to enhance organizational performance and productivity. March 13 marked the end of two successful funding rounds, led by angel investors Sievo and Business FInland.

Identifying Bottlenecks and Solutions With ONA and AI

Teamspective uses data from sources like Slack, Google Teams, Jira, Github and Salesforce to measure digital interactions between employees using ONA. The approach provides direct insight into how and where work gets done and helps identify potential pain points.  

“We see quite often that organizational problems — like having an absent manager, unequal distribution of workload, or being in a silo — explain problems in key engagement metrics, like the eNPS. ONA is the only solution capable of identifying these structural risks, so having insights from both ONA and an engagement survey in the same solution is a smart move,” Kaikuluoma told Reworked. The Teampsective solution feeds data from the ONA and engagement surveys into a pre-trained AI model to identify pre-vetted solutions to identified issues. The solution includes additional components such as:

• Personalized 1-1 and team discussion suggestions, based on collected data from surveys and ONA.
• Engagement pulse surveys to help track employee experience delivered via a Slack-integration.
• A Graph neural network (GNN) model to predict employee attrition risks, team performance and individual performance.

Teamspective’s solution is currently used by customers in a diverse range of industries, including tech, industrial, gaming and consulting. To support its highest concentration of customers, it will be establishing an office in the San Francisco Bay area, slated for 2025, along with building a commercial team in Finland.

Employee Engagement Solutions Predicted to Rise

The demand for comprehensive employee engagement solutions continues to rise as hybrid work retains its stronghold and the majority of work is accomplished online. In 2023, the employee engagement software market was valued over one million dollars and is projected to reach $4.4 million by 2033. Companies that are more aware of the engagement rates within their organization are more likely to achieve better performance results and talent retention.

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