Seeking to help fast-growing companies better understand their workforce, Serbian startup Orgnostic has netted $5 million in a seed funding round. The round arrives just eight months after the initial product launch, and the funding will be used to rapidly accelerate further development of the platform. Including this round, the fledgling company has raised just shy of $6 million.
As with just about every facet of our modern world, the pandemic kicked the process of digitialisation into high gear, with the HR department being no exception. In so much, the sheer volume, variety, and scope of elements of the people stack cover every colour under the rainbow and back again.
Where Orgnostic fits into the picture is not only as a unifier of these disconnected tools, but as a platform that ingests a wide variety of data and bridges the gap between operation and the employee work experience. If all goes according to plan at the Orgnostic HQ, the process results in high-quality quantitative and qualitative data for people management teams to perform with.
Recognising the “we need it yesterday” attitude, and often a requirement, of our modern working world, Orgnostic places a high value on speed. The service maps and types HR and financial data into a single model, allowing for almost instantaneous integration and insights output(s). In so much, the startup offers clients both data collection and new data generation simultaneously.
Orgnostic reports that the data ingestion process from multiple HR sources including BambooHR, Lever, Lattice, Betterworks, Personio, Bob, Greenhouse, Teamtailor, Recruitee, Workable, Timetastic, has been reduced from six weeks to three hours. Stepping aside for a second, if we calculate that in traditional working hours, that’s 240 hours down to 3. Impressive by any measurement.
Co-founder Luka Babic explains, “The pressure of time, the changing nature of work accelerated by COVID, combined with a lack of experience, information, and proper insights means that companies tend to accrue organisational debt. As a result of this debt, an organisation’s effectiveness can suffer, its culture can be compromised, and good employees will ultimately leave.”
The startup’s seed funding round was led by Earlybird Digital East, and saw the participation of investors including Script Capital and angel investors including Eric Ries and Tiho Bajic of Lean Startup and LTSE, Rony Kahan of Indeed, and Charlie Songhurst of Microsoft.