Artificial intelligence employee platform raises £2.79m

Artificial intelligence employee platform raises £2.79m

The London-based start-up launched its beta version last year and already has 200 companies signed up from over 22 countries.

StatusToday, which uses AI to help companies understand their employees, has closed a seed funding round of £2.79m led by LocalGlobe, with participation from Notion Capital and Firstminute capital.

Most companies and managers do not understand their employees, what makes them inefficient, when they are most likely to make mistakes or even what motivates them.

StatusToday tackles this by using data and artificial intelligence to analyze employees’ actions.

It does this in real-time, making it simple for companies to gain better visibility of how their workforce is operating and implement improvements.

It removes the subjectivity from business transformation and reduces problems by identifying risks, such as regulatory breaches, before they become serious.

“We are in the ‘let’s change the way you work’ business,” said 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.”

StatusToday, built on cutting edge innovation including three patent-pending technologies, launched in beta in mid-2017 and already has 200 companies from 22 countries signed up.

This has seen the platform analyse more than 350 million human actions from the 165,000 employees on the system.

The new investment will help to attract more companies to the service, further improve the AI and expand its multi-national team. The company currently has 14 employees, based in London and the Ukraine.

Modi added: “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 of LocalGlobe added: “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.”