Swedish employee engagement startup, Winningtemp has announced its Series B funding round of €15.1M co-led by London’s Frog Capital and Stockholm-based Bonnier Ventures.
Having experienced a 300% increase in platform usage during the first three weeks of lockdown, and
consistent growth over summer, Winningtemp’s AI and science-based employee engagement
platform has become a mainstay for companies attempting to ensure morale is maintained during a
time of remote working.
Based on more than 600 international scientific studies, the platform helps senior team members
visualise employees’ behaviour and development in real-time: providing predictions and
recommendations alongside real-time insights and help.
Winningtemp is relied upon by 600 companies globally. The startup now has over 100,000 daily users in over 20 countries, and is targeting international expansion, specifically to the United States.
In order to maintain this international growth and to capitalise upon the fact that employee morale
and efficacy has moved from the preserve of HR departments to being a top priority for CEOs and C-
suite executives, this latest funding round was brought forward.
“We are experiencing unprecedented demand,” said Pierre Lindmark, CEO, who co-founded
Winningtemp in Gothenburg in 2014.
“We have a strong competitive edge given our AI and science-based approach. Employee engagement is only going to grow in importance, with companies coming out on top over competitors because of their approach to culture and by building a team of people who feel passionate about who they work for. Frog Capital and Bonnier Ventures have really understood this and will be a great support with our next phase of expansion.”
Shirin Dehghan, Frog Capital Operating Partner, joins Winningtemp as Chairperson and will sit on the company’s board.
“Keeping your high-quality talent motivated and effective is now acknowledged as mission critical,”
added Shirin Dehghan, Frog Capital Operating Partner.
“Winningtemp has an awesome product at exactly the right time. I am honoured to have been asked to Chair the board in the interim to help navigate the company’s ambitious global expansion.”
Victor Bodin, Investment Director at Bonnier Ventures said: “The Winningtemp team has really
impressed us. They have built a leading product offering which we think is right on target for the
modern company. At the same time, they’ve managed to grow their business at high rates and in a
capital-efficient way.
“We are pleased to partner with the team in helping them to scale up their business internationally from a strong Nordic base.”
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