Scottish entrepreneur Paul Reid’s latest venture has received £1 million in seed funding from a host of angel investors.
Founded in 2018 in Edinburgh, tech startup Trickle’s HR software assists businesses with employee engagement. The platform launched earlier this year and organisations including Scottish Power, the Scottish Government and Eden Scott have signed up so far.
Trickle CEO and co-founder, Reid, previously founded geospatial solutions specialist firm Sigma Seven, which was acquired by FTSE 100 business outsourcing giant Capita in 2015.
Reid has brought members of his Sigma Seven team with him to Trickle, including chief technology officer Ross Dempster. Angel investors who had previously backed Sigma Seven, along with Techstart Ventures, have pledged funding support for the firm.
The platform, known as ‘trickles’, is designed to allow employee feedback to trickle upwards to help management and HR ensure staff are listened to and that they remain happy in their jobs. It features an analytics dashboard that highlights staff’s top five issues or suggestions.
Increasingly, industry is recognising the importance of cultivating a positive work culture, where employees feel listened to and valued. Research by Mckinsey & Company has found a correlation between workforce happiness and a significant competitive advantage for high-performing organisations.
Reid said: “When Sigma Seven was acquired by one of the UK’s largest companies, I saw first-hand how corporate culture can impact people and I was always thinking about how I had to feed or trickle my team’s sentiments back to the new management.
“With Trickle, we’ve built a people-first technology platform so that a conduit exists to channel employee issues and suggestions to senior management and HR. The end result is a virtuous circle that helps people feel more valued within the organisations we’re partnering with.”
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Trickle’s COO, Marcella Peacock, said: “Studies show that a happily employed person is more than twice as productive as a satisfied one and more than three times as productive as a dissatisfied person at work. Today’s startups are thinking more about culture than ever before from day one.
“For the more established organisations, they realise that in today’s corporate world, putting real focus on engaging your workforce results in higher productivity, increased loyalty and reduced staff churn.”
At the end of October, Trickle won CivTech’s 4th cohort (Challenge 8) to work alongside West Dunbartonshire Council on their people engagement.