Given the current circumstances, the workplace dynamics of businesses and organisations around the world has changed dramatically. HR professionals were suddenly faced with the massive task of rapidly evolving the HR processes to navigate the new normal created by the pandemic. These professionals could use all the insights and tools in order to handle human resources. This is where HR analytics platforms such as Orgnostic can help, and it just raised $900k (approx €767K) in a pre-seed investment round.
The pre-seed round
The round was led by 122 West Ventures, including South Central Ventures, and a group of high-profile angel investors gathered around LTSE Software CEO, and founder of Serbian Entrepreneurs network, Tihomir Bajic.
The startup intends to use the funding to strengthen its team and scale its analytics platform to help companies build a better business with the help of organisational data and expertise.
“We must emphasise the obvious: we raised our pre-seed amid the global pandemic. What might not be obvious is that we have never personally met our lead investors,” says Luka Babic, co-founder and CEO of Orgnostic.
Insights from raw HR data
Founded by Luka Babic and Igor Bogicevic, Orgnostic is on a mission to provide investors and leadership teams with high-quality organisational insights that link organisational dynamics with companies’ bottom lines, creating better and more sustainable businesses for the new economy.
According to the company, it adds a layer of theory and years of practical knowledge to it’s clients’ raw aggregated HR data. This allows its clients to gain strategic insights about their companies and set a sound governance framework to outperform competitors.
“Our idea was not to build yet another survey. We intend to procure and integrate the methods and measurement frameworks for the organizational capital assessment that show the highest predictive validity for various business outcomes.”
The company has partnered with top academic researchers (Harvard University, the University of Michigan, and the Institute for Management Development in Lausanne) and organisational design practitioners to develop a model that includes various assessment methods.
The assessment framework includes the Denison Culture Model and Hackman’s Team Effectiveness Diagnostics. The platform and diagnostic algorithm are built on top of 30 years of academic research and a database that contains culture and effectiveness traits expressions on over 10,000 companies with more than 25,000,000 records.
Main image credits: Orgnostic