Cork-based Talivest will use the funding to launch an employee wellbeing tool that it says can flag burnout.
Irish employee engagement software company Talivest has raised $1m, which it plans to invest in the launch of its new ‘employee energy’ tool.
The funding is a follow-on from a previous round in 2019, and was led by well-known Cork entrepreneurs and Voxpro founders Dan and Linda Kiely. Following the acquisition of Voxpro by Telus International in 2019, the Kielys set up private equity and VC firm MASV.
Barry Doyle, who is investment director at MASV, will now come on board as an adviser to Talivest. Doyle is a former CFO at both Storyful and XSellco.
Existing investors in Talivest include CPL founder Anne Heraty, Google Ireland managing director Ronan Harris, PCH International CEO Liam Casey, renewables entrepreneur Michael Murnane, entrepreneur Bryan Meehan, philanthropist Nicolas Berggruen and Luxor Capital.
The Cork company was originally founded in 2013 by University College Cork graduates Jayne Ronayne and Helen Flynn as KonnectAgain, an alumni relations platform.
It rebranded to Talivest in 2018 and developed into a software-as-a-service platform with a particular focus on retaining and attracting talent in the workplace.
With the funding boost, Talivest aims to create new roles across its sales, customer success, marketing and technology departments to increase its growth further.
The investment will also go towards the accelerated launch of the company’s new employee wellbeing management tool, which it says can be used to predict engagement levels and flag burnout risks.
“Over the past two years, and more specifically the past two months, we have seen the most dramatic shift in the labour market in a century. Consequently, organisations need to move on from outdated employee engagement scores and focus on employee energy,” said Talivest’s COO, Laura Belyea.
“Organisations need a tool to understand the root cause of issues such as discontentment, in order to move the dial, and this is exactly what we’re building into our employee experience platform.”
Beleya added that this could give employers a “huge advantage” as the so-called ‘great resignation’ looks set to continue.
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