We are excited to announce that HelloTeam has received a $10 million dollar Series A funding round led by none other than Paychex founder Tom Golisano and his investment firm Grand Oaks Capital!
Golisano, a billionaire who holds investments in companies such as Kodak and 3M, felt that HelloTeam was a company that deserved a shot at the next level. He saw great potential in our platform’s employee engagement and performance management features, and felt that securing clients like Massage Envy and Mood Media were big steps on a path to success.
He spoke with Forbes on the parts of HelloTeam’s mission that stood out to him –
“Employees want good communication from their management about the issues going on at that company,” Golisano told Forbes. “My experience has been [that] employees complain the most about employers who don’t communicate with them. I think the product, the timing of the product, particularly with the remote environment today, I think was excellent.”
“Tom is the pioneer, I would say, and a true legend in the human resources space,” said our CEO, Tanya Bakalov, in her own interview with Forbes. “We are thrilled to have the support of Tom Golisano and Grand Oaks Capital as we continue to revolutionize the way businesses approach employee engagement and performance management… Prior to Paychex, payroll was very much decentralized, broken, similar to how we view engagement and performance management today, and in both cases, the industry was ripe for disruption.”
On the spark that led to the creation of HelloTeam, she continued, “I quickly realized that in order to build a great company, it takes a great team.”
Someone who knows a lot about the importance of a great team is Becky Ospina, Senior Vice President of Human Resources at one of our favorite clients, Onyx CenterSource. After adopting HelloTeam’s platform and watching it transform her company’s culture, Becky told Forbes, “Since implementing HelloTeam’s employee retention platform, we have seen a significant reduction in turnover, saving us north of $4 million per year.”
Onyx Centersource reported a decrease in its turnover rate by one-third after fully implementing HelloTeam in 2022! We love hearing stories like this, and we’re ready to extend our hand to more teams like hers.
For more details on Tom Golisano’s funding and how he met Tanya, check out the article Forbes wrote on the matter here – https://www.forbes.com/sites/gigizamora/2023/04/21/payroll-billionaire-tom-golisano-bets-on-employee-retention-startup-helloteam/?sh=37edb2a926c4
If you want to improve retention, build culture, and engage your workforce, you can schedule a demo with HelloTeam right here — see what all the buzz is about!