Teamspective receives 900,000 euros in pre-seed financing

Fresh cash injection for Teamspective: Finnish start-up receives 900,000 euros to optimize companies' organizational structures with innovative network and relationship analysis

HELSINKI, Finland March 13, 2024 - Finnish employee engagement specialist Teamspective has raised 900,000 euros in a pre-seed funding round. The round was led by business angel investors, including Sammeli Sammalkorpi, CEO and co-founder of Sievo, which already uses the solution as a customer. Business Finland also participated in the financing without allocating shares. The fresh capital will be used to further develop Teamspective's innovative network- and relationship-aware solution and to support the expansion of the sales team in Finland and the USA.

Visualization of employee communication

Teamspective helps companies optimize their organizational structure by visualizing how communication, information and decisions flow through employee networks. By applying AI-powered analytics to employee engagement data, the solution enables organizations to ensure that every employee's voice is heard. This promotes employee autonomy and supports organizational decisions that are more aligned with employee needs.

Engaged employees are particularly valuable to organizations, and employee engagement solutions are widely adopted. Unlike traditional employee engagement surveys, which only capture employee opinion and feedback, Teamspective takes into account the collaboration structures that define how people actually work together.

Organizations are extremely complex social structures, and it requires superhuman awareness to fully understand the collaborative relationships between people throughout the organization.

Jaakko Kaikuluoma, co-founder and CEO of Teamspective

According to Teamspective, the combination of employee engagement and Organizational Network Analysis (ONA) enables companies to address gaps in interdisciplinary collaboration, overcome isolated teams, reduce the risk of burnout and solve coordination bottlenecks. This has a positive impact on employee wellbeing and performance.

Focus on employee retention

In recent years, a lot of work has gone digital, not least due to the increasing proportion of remote working. Teamspective measures digital interactions between people using data from solutions such as Slack, Jira and Google Calendar. This creates real-time visibility and understanding of how an organization actually works.

Investors are recognizing numerous opportunities in employee engagement solutions as companies increasingly focus on the fact that high employee engagement leads to better results and talent retention. With the growing demand for software solutions to measure and develop corporate culture, the market value of the sector is expected to reach USD 4.4 billion by 2033.

We also want the best tools for people analytics. Teamspective gives us a clear picture of the issues currently relevant to our employees and organization and guides us in discussing them.

Sammeli Sammalkorpi, CEO and co-founder of Sievo

The ability to conduct organizational analysis is especially important for fast-growing technology companies, as they have the highest pace of change in any industry.

"Employee engagement and wellbeing are essential to our strategy and culture at Metacore. After our Merge Mansion game became a success, we grew faster than ever before and needed a better, more automated tool to ensure we maintain an ongoing dialog about the employee experience. We see listening to our employees as a growth enabler, and Teamspective is a powerful tool for that. We chose Teamspective because they are a modern engagement solution with a great Slack user experience. They also have an exceptionally ambitious product roadmap, in which our input as a key customer is specifically noted," adds Maria Törnroos, Head of Wellbeing & Performance at Metacore.

Teamspective's solution is currently used by customers in a wide range of industries, from technology unicorns to industrial companies, gaming companies and consulting firms.