Istanbul/London-based hrtech Sorwe closes seed round, sees $3.2 million valuation

Istanbul/London-based hrtech Sorwe closes seed round, sees $3.2 million valuation

Gamified employee experience platform Sorwe has raised $500,000 in investments and is now looking at a valuation of $3.2 million.

The round was led by TechOne Venture Capital and saw participation from Startup Wise Guys and angel investor Selahattin Zoralioğlu, co-founder and managing partner at Taxim Capital Private Equity.

Selected to the UK’s Global Entrepreneurship Programme in 2019, Sowre digitises the people processes and consolidates them into one single app. Through real-time anonymous behavioural data collection, Sorwe provides employers with actionable analytics, and ensures engagement through a gamification process.

The platform continuously monitors 18 variables including engagement, happiness, climate and culture, and employee efficiency. The data is then crunched to provide breakdowns by department, location, generation, and gender.

Now in use by more than 60,000 individuals in 7 countries, Sowre reports that employee engagement has increased by 25% through the use of its app, and employee turnover is reduced by 8%.

“We have completed a strategic investment process that will support the growth of our company in the European market, which we established with a global vision from day one to create a happier, connected and inclusive work atmosphere. Sorwe will lead the HR sector globally with its end-to-end approach and create a new category in this field,” comments Sorwe CEO Emrah Ertürk.

A bold statement to be sure, as just a few days ago Belgian employee engagement platform Ambassify announced their raise of €2 million, and activity in 15 countries across Europe, Canada, and the US.

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