We are proud to lead Platypus latest $2.5 million investment round along with Inventure and Vækstfonden.
With the global pandemic sweeping across the planet, remote work went global overnight. Now more than ever, businesses are challenged to address new needs and expectations from their employees. Issues such as limited management support, reduced communication flow and lack of social belonging can have a major impact on the company culture and the way employees experience work outside the office.
While most solutions in the HR Tech space focus on individual performance and engagement scores to cope with this problem, Platypus measures, analyses and tracks the alignment of an individual’s values with the culture and values of an organisation. The solution helps transform company culture from a static, top-down mission statement into adaptable, measurable data of what employees actually value in a company. Platypus also assesses person-to-organisation alignment as culture develops over time in order to identify the areas that need further attention — minimizing the risk of losing employees.
“The average cost of staff turnover is $50k per employee, and as high as 200% of the base salary for highly-skilled roles. This presents a major problem for many companies in today’s market, especially as they are transitioning to more flextime and remote work options,” explains Platypus’s CEO Nico Blier-Silvestri, who brings over 15 years of experience managing HR functions in successful companies like Revolut, Unity Technologies, Trustpilot and Peakon. “The future of work, whether remote or not, is all about finding smart ways to cope with retention issues. Close to 90% of the early-leavers — that is, people who leave their employer within the first 18 months on the job — do so because of the cultural misalignment, and we know for a fact that a technology like Platypus can be game-changing for businesses for years to come.”
MSM welcomes the opportunity to partner with Platypus, along with Inventure, a Nordic technology fund backing early-stage entrepreneurs based in Finland and Sweden, and Vækstfonden, the Danish State’s investment fund. MSM believes Platypus reframes the way businesses measure and leverage organisational alignment to maximise employee satisfaction and retention. We spend a significant part of our lives at work, reinforcing the need for a strong sense of engagement, satisfaction and performance within our jobs. Platypus enables teams and individuals to achieve those outcomes, combating symptoms of cultural misalignment such as depression and anxiety. MSM team is excited to work with Nico, Daniel, Neva and Lousie, a team comes with a solid industry background in HR, giving them a clear advantage and differentiated approach in this vertical.
Platypus was founded in February 2019 by Nico Blier-Silvestri and Daniel Bowen. Within 10 months of its launch, the company is already working with multiple customers across several markets, including Denmark, Latvia, Singapore, Sweden, the UK and the US, to establish an optimal person-organisation alignment, and thus minimise their retention costs.