Bristol-based employee morale platform Loopin has announced it raised a £1.6 million seed fund round to further its platform and bring morale to the workplace. Its yet to roll-out is coaching platform to the public.
No investor names were given but apparently there are some high rollers and angel investors involved.
“This seed funding has been raised from angel investors who have founded and led companies - and who understand the value of what Loopin has built. At any one time, a staggering 45% of employees are actively thinking of leaving their job,” says Stuart Neal, former General Manager of Boku Identity and Chairman of Loopin. “The average cost of replacing an employee is £30,000 so the price businesses are paying for low morale is huge. Loopin has developed the first-ever metric for measuring morale and, combined with cutting-edge Generative AI, it’s going to transform the way all successful companies operate.”
The Loppin platform which is currently launched in Beta with customers including Reed, Fetch and JD Sport, helps businesses measure and improve employee morale. It was founded by two former Royal Marine Commandos, Ben Williams and Antony Thompson.
“As a former Royal Marine, I know first-hand that teams with high morale can accomplish the seemingly impossible. Coaching business leaders after leaving the Royal Marines, I was stunned to find that they had no way to measure and manage morale across the organisation in real-time. We built Loopin because morale is a metric that belongs on every board’s list of core KPIs. We’re excited to roll-out Early Access to help more companies that care about their people and their performance,” says Ben Williams, CEO and Co-founder of Loopin.