FLOWIT, the Swiss digital-coaching platform has managed to acquire €4.2 million in seed funding. The Software-as-a-solution or SaaS platform is presently being used by over 30,000 employees, especially those working on the front lines, including healthcare workers, technicians, workers in the hospitality space and so on, who do not have desk jobs. These workers are able to obtain real-time feedback and access to development, which is often not given to them.
The funds will be used to expand the team and improve reach internationally.
With FLOWIT, frontline workers employed in hospitals, real-estate firms and hotels among other businesses, are able to learn various processes and their employers are able to ensure better employee engagement. This also spares the human-resource department across firms as well as leaders some time to focus on other important tasks. They benefit from the platform’s automated processes, real-time data as well as AI-driven dashboards.
The platform was launched about three years ago, to cater to customers in Germany, Austria and Switzerland. It has reportedly managed to reduce attrition, and therefore, turnover costs by half. It is known to result in more employees being emotionally-committed to their organisations. Additionally, its employee-satisfaction surveys are an advantage, allowing employers to focus on areas that require employee development.
Given the dearth of labour in Germany, such a platform can be the ideal solution for retaining quality employees. After all, the costs associated with turnover are a major issue for the HR and a drain on the finances. FLOWIT’s AI-based digital coach controls this turnover.
The seed-funding round saw participation by Vi Partners, Alstin Capital Daniel Gutenberg.
