HRTech startup bags over £1m worth of seed funding to fuel employee growth
London-based HRTech startup Howamigoing has raised an additional £890k in seed funding to its total financing sum of £1.1m.
Howamigoing launched a new platform in 2018, enabling employees to transparently manage their year-round feedback and performance plans. The company is now working with companies in the UK, US, Hong Kong and Australia.
The fundraise was led by angel investors Chris Hadley - founder of Quadrant Capital - and Richard Elmslie - CEO of Rare Infrastructure.
Existing investors including Andrew McGill, professional director and co-founder of Crescent Capital; and Alister Jordan, CEO of Coles Express, also participated in the round.
Howamigoing was founded by former J.P. Morgan and Goldman Sachs investment banker, Julian Cook. The company will use the investment to build out its sales, marketing and customer functions in light of its international pipeline.
Julian Cook, founder and CEO, said: “In 2019 it’s just not good enough to run a one-size-fits-all, ‘tick-the-box’ performance review process. Employees are the heart of any business - they deserve more and if they don’t get more they will leave.
“There have been so many advancements in technology and social psychology over the past 15 years that aren’t being utilised by companies.
“We know that employee appraisals don’t drive individual performance, we know that stack-ranking employees destroys teamwork, we know that combining pay with feedback skews feedback, and we know that most people don’t give honest feedback to their superiors when they can’t do so anonymously.
“This fundraise is a great show of support for the global rollout opportunity ahead of us, the quality of our offering and the strength of our team.”
Andrew McGill, company director, concluded: “Howamigoing offers an elegant solution to a global problem. Having personally witnessed or been part of the transformation of many developing companies, in my experience the most successful had cultures built on feedback and employee development.
“It’s exciting to see Julian and the team build a scalable platform incorporating leading research that can be used by companies of all sizes across the world.”
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