Jamie True, the entrepreneur behind the venture, has secured the support of former Tesco CEO Terry Leahy, a serial angel investor, and attracted BBC Worldwide CEO Tim Davie to the board. Also joining the deal are MetaPack and Eagle Eye chairman Bob Willett, William Currie Group?s Bill Currie and Iain McDonald, and advertising heavyweight Jon Claydon. Read more about Terry Leahy’s investment:
Founded in London at the beginning of 2013, WorkAngel has developed a platform that ?combines communication, collaboration and social recognition tools to help with employee engagement and retention. Speaking to Real Business, True said: ?The voluntary benefits market has remained undisputed for the past decade. It traditionally sees an extremely low adoption rate amongst its users yet the industry?s core offerings have been unchanged. ?We found in our testing phase that we were seeing phenomenally high engagement levels. While most benefits platforms do not see high activity rates, the social features and mobile-first experience of Work Angel really encourages high usage and redemption.? Prior to setting up WorkAngel, True was part of the entrepreneurial team that founded mobile technology agency Grapple, which went from establishment in 2010 to $50m acquisition by Monitise in September 2013. The $5m True and Work Angel have now banked will go towards assisting with the release of the company?s technology after a year in private beta. After a February 2015 UK launch, WorkAngel will then target the US market later in the year. WorkAngel Benefits provides cash back and discount deals at thousands of online retailers and restaurants, alongside Groupon and Living Social partnerships. Explaining the market opportunity for WorkAngel, True cited research conducted by Gallup that showed nine in ten workers around the world are ?not engaged? with their jobs. The investment is one in a long line of early stage technology startups that ex-Tesco CEO Leahy has become involved with. Having served his time in the larger corporate sector, Leahy has added the likes of Occa-Home, MetaPack, Atterley Road and Purple WiFi to his portfolio.
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.