Teamshape platform empowers team managers with data, for more efficient employee leading and engagement increase. Combining psychology, statistics and technology we bring more insights about employees within the team. The platform helps to monitor their well-being in company over time and gives suggestions to managers on how to engage their employees more.
We have developed the concept and methodology to fulfill this solution. We've built a prototype and have first signups for testing the MVP once it's ready. At the moment we're part of Antler accelerator in Stockholm, Sweden.
Market size for HR software solutions is 5.7 bil USD in Nordics and Baltics region alone. In US it's 30 bil USD and growing on 11.5% yearly.
Problem or Opportunity
The problem we're tackling is high employee turnovers. Employee turnovers cost on average 1bn USD every year for businesses in the US. Gallup research shows that only 20% of employees leave because of salary/compensation issues, the other reasons depend on work environment and management. However, in most companies there lacks proper data, to make valid decisions on employee retention.
Solution (product or service)
Platform, that collects and analyses data about employee personality and their engagement, to provide solutions for managers on how to work and communicate better with their team.
Direct competitors in Nordics region are Peakon, Lattice and CultureAmp. They're the biggest players with most similar solution to ours. However, their business model is mostly suitable for larger corporations and the solutions are too broad. While our solution provides more sophisticated in-depth analysis of situation and provides faster actions taken, for engagement improvement.
Advantages or differentiators
Our advantages: - More in-depth analytics on employees individual level - Comprehensive team analytics - Flexible solution for smaller teams to use - Easy set up and user interface - Speed of delivering analytics faster than competition
At this stage is very assumption based but we're looking for the floor of exit value to be above 50 mil. USD
The platform is on subscription base, with 3 main plans that include different features. Plans go from 19$/per user/mothly to individual quotes.
Money will be spent on
Product development 20%, Sales and Marketing 60%, Administrative costs 20%
Offer for investor
It's up for negotiations on the size of the deal and what value can the investor bring besides monetary.
Besides force majoure events, the potential risks are: - High competition and copy of product; - Crisis, that would affect company budgets on spending for tools like this; - Product market fit, that solution is not at the right time in market.
Incubation/Acceleration programs accomplishment
We're currently part of Antler accelerator in Stockholm, Sweden