212 invests in growth-stage tech companies across Turkey, CEE, and MENA. Currently, our fund manages €75 million of committed capital, and 25 investments. Our strategy is to invest in B2B tech solutions that have demonstrated traction, a clear product-market fit, and are ready to scale internationally. ‘Test local, go global’ is 212’s guiding principle. In addition to investing in startups, we put significant effort into mentoring, supporting, and advising our portfolio companies. 212 was founded by a seasoned group of veterans with the common vision of cultivating an eco-system in Turkey and its region. Each of our team members brings to the table a proven track record of success in multi-cultural disciplines in both global corporations and start-ups and an unwavering focus on strategy, operation, and execution.

MINDSHIFT Capital is focused on post-seed early-stage companies in the U.S., Europe and Middle East. Through a global network, MINDSHIFT identifies companies with scalable technology, exceptional leadership and high growth potential. they invest with a gender lens, ensuring diversity of thought while narrowing the funding gap for female-led ventures.

Mindshift Capital

Doha Tech Angels provides seed funding for early stage disruptive technology startups in Qatar, the Middle East, and internationally.

Doha Tech Angels

Sarus Select Capital manages investments and provides investment advisory services.

Sarus Select Capital

Assist Ventures

Sabancı Ventures is an investment arm that invests in technology and innovation-based companies in different sectors.

Sabancı Ventures

Enocta is a Turkish e-learning company founded in 1999. It provides hundreds of companies, government agencies, and universities with e-learning services, training programs and development services.  The services offered by Enocta include e-learning content products and solutions; education management infrastructure products and services; and other related packaged solutions.  Encota has been recognized as one of the best of e-learning platforms in Turkey. It was awarded as the champion in the e-communication category in 2011 by DenizBank; first place in the e-learning platform contest organized by the Turkish Ministry of Justice; and second place by Koç Allianz in the e-learning platform category.  Enocta's business partners include ABC Consulting, ADS Consulting Group, Allianz, Baltas, DBA Institute of Behavioral Science, Guse Safe Driving Training Centre, Rica Solutions, Academy of MED, PDA, The Polat, TIM, and TSEV.

Enocta

Wellbees

Wellbees is an employee wellbeing company serving mainly enterprise clients in 17 countries, 8 languages, and 100K+ employees. Wellbees’ business model is B2B SaaS and it sells mainly to HR professionals of, mainly, enterprise companies. The application, available on the Web, on Apple Watch, and on all other Stores (iOS, Android, Huawei), is then used by the employees of these companies. The AI-powered wellbeing dashboard helps HR get a real-time pulse on the mental health and well-being of the company’s most important asset: employees. Wellbees' dedicated customer success teams work in tandem with the HR teams and accompany them on this wellbeing journey. The main USP of the platform is that it combines the various different features of other employee wellbeing providers under a single umbrella, saving HR time and money. Currently, Wellbees has a 62% active usage rate across all companies that use it. The use of Wellbees results in lower turnover, higher engagement, better employee morale, and overall better culture in companies. Wellbees proudly works to trigger personal and cultural behaviour change in companies to create workplaces that people love.  Founded in 2013, Wellbees started out as a single-person consultancy company. With co-founders joining the team in 2017, the team set out to create an MVP for an employee wellbeing platform. In 2018, Wellbees 1.0 app was generated. In 2019, the team wrote the app from scratch allowing a modular B2B, and onboarding of several software engineers. In 2020, when COVID hit, the platform had already reached product-market fit and scaled to 40+ enterprise companies as clients, serving them in 17 countries and in 8 languages. Bootstrapped all the way until its Seed round in 2022, the team has a healthy runway and a team of 50+ employees half of whom work directly on the product.  The first focus of the team is to scale its Sales within the UK and in MENA. Additionally, the team is working hard on enriching its proprietary product with additional AI capabilities to further empower its suggestion engine for both employees and employers. Furthermore, the team is working on an SME product as well as cutting-edge features such as an AI virtual personal trainer and a dietitian. Our ARR grew x3 last year and is on a strong growth trajectory within 2022 with an expected 2,5x. Wellbees team is on its way to creating a one-stop-shop for all things employee Health to become the world’s first and biggest Organizational Health company. Over the following terms, Wellbees will add insurtech as well as health capabilities to its offerings to complete its transformation- to create a world where all can Bee Better Together!

Wellbees is a SaaS employee wellbeing platform that covers eight aspects of employee wellbeing, which include mental, physical, spiritual, and social aspects by hosting wellbeing-focused competitions, content, seminars, and events. The company claims employees using its platform tend to be 50% less likely to leave their jobs and 12% happier after six months of platform usage.&nbsp;

Distributed workforces require new solutions for office operations, HR, payment, and more.

Remote Work Infrastructure

Mindshift Capital participates in Wellbees’ $2.2 million Seed round

Wellbees is a SaaS employee wellbeing platform that covers eight aspects of employee wellbeing, which include mental, physical, spiritual, and social aspects by hosting wellbeing-focused competitions, content, seminars, and events. The company claims employees using its platform tend to be 50% less likely to leave their jobs and 12% happier after six months of platform usage.&nbsp;Key customers and partnershipsAs of May 2022, the platform is used by over 100 companies and over 100,000 employees across ~17 countries.Funding and financialsIn<a href="https://sp-edge.com/updates/10473"> May 2022</a>, Wellbees raised USD 2.2 million in a seed funding round led by 212. As part of the deal, Maher Hakin (partner, 212) joined the Wellbees’ board. Funds were earmarked to accelerate expansion in the UK and MENA markets as well as to establish data science, local customer success, marketing, and sales teams. The company planned to develop algorithms capable of producing personalized recommendations to individuals and HR departments related to employee wellbeing trends.

ActivTrak is a cloud-based productivity monitoring software provider. The platform offers data and analytics which can be used to detect workplace productivity gaps. The platform collects data from employee activity logs and computer screenshots, although it does not log keystrokes or record video of a user’s screen. ActivTrak also facilitates a range of tasks for admins such as blocking websites, flagging suspicious activities, IP address connections, and monitoring web, and app traffic.Other features offered include productivity reports and coaching, headcount and workload management and personal insights. In November 2023, the company added capabilities to measure the usage of AI tools, automatically detecting and classifying the use of such tools and websites to help organizations manage and improve AI adoption across the workforce.Activtrak generates revenue via monthly subscriptions (USD 10 and USD 17) per user, and custom pricing for larger enterprises.Key customers and partnershipsAs of April 2024, over 9,500 enterprises used ActivTrak’s platform, notably including Allstate, asembia and Nobu. ActivTrak closed 2023 with a 40% growth in its customer base (adding ~2,200 customers).Funding and financialsIn November 2020, ActivTrak raised USD 50 million in a Series B round led by Sapphire Ventures. Sapphire Ventures CEO and managing director joined ActivTrak’s board as part of the deal. The new proceeds were earmarked for scaling global sales and marketing campaigns, expansion of its platform using AI driven analytics, and improving integration with its technology partners.

ActivTrak

inFeedo is a people predictive analytics company based in India. The Y Combinator-backed startup founded in 2013 is currently focused on “Amber” (launched in 2016), an AI-enabled bot that helps manage employee engagement, predict attrition, and get a pulse on company culture in real time. The company also offers AI-driven exit surveys and analytics to improve retention.Key customers and partnershipsAs of April 2024, over 700,000 users across 250 organizations utilized inFeedo’s platform. Notable clients included GE Healthcare, Puma, Tata Group, and Lenovo.Funding and financialsIn its latest funding round (<a href="https://sp-edge.com/updates/9099">March 2022</a>) inFeedo raised USD 12 million in Series A funding led by Jungle Ventures, reportedly tripling its valuation from less than 18 months ago. The fresh funds will be used for its second employee stock ownership plan (ESOP) buyback for all employees and its go-to-market activities in North America. Further, the company claims it has achieved annual revenue of USD 1.6 million as of November 2020.

inFeedo

Donut provides solutions to keep employees engaged with casual conversations. Its first product, Intros, makes connections between teammates via Slack to emulate quick meetups and in-person introductions at work, which are now virtual.Donut’s new product, Watercooler, launched in October 2020. It attempts to reinvent the micro-interactions between employees at the office watercooler online. The product will integrate with Slack, where a newly-designated channel for Watercooler will be created. The product will post questions automatically within the customers’ desired frequency and pre-selected topics.The company uses a freemium subscription model with paid plans starting at approximately USD 2 per user per month.Key customers and partnershipsThe company claims it has supported four million connections (one million since the Covid-19 pandemic) across its 12,000 customers, including companies such as Okta, Zapier, Slack, The New York Times, and Invision.Funding and financialsDonut announced a USD 12 million funding round led by Accel, along with its new product, Watercooler. The USD 12 million raised was accumulated over multiple rounds before the Covid-19 pandemic, with proceeds earmarked for product development.

Donut

Matter is an employee feedback platform founded by Brett Hellman. Hellman was the founder of messaging app “Hall”, which was founded in 2011 and later sold to Atlassian for USD 20 million in 2015.Matter uses 360-degree feedback to evaluate skills in employees which are linked to career success. The platform links skills such as influence, inclusiveness, empathy, resourcefulness, and multitasking to evaluations. Matter is currently available in beta.

Matter

Mesh is a Y Combinator-backed company that allows employees to set goals, track tasks, share feedback, and engage in one-on-ones. The company also offers an AI coach (Mesh Maven) to help employees stay in line with their key objectives, improve the quality of feedback provided and summarize 1:1s. Mesh also offers nudges and surveys to improve employee engagement alongside relevant analytics.The company generates revenue via monthly subscriptions per user, priced at USD 4 (Base) and USD 7 (Premium).&nbsp;Key customers and partnershipsAs of April 2024, the company served over 100+ enterprises, including NTT Data, Grant Thornton and Groww. The platform also offers integrations with third-party software such as Gmail, Microsoft Teams and Slack, among others.Funding and financialsIn its most recent funding round (<a href="https://sp-edge.com/updates/9768">April 2022</a>) Mesh raised USD 11 million in Series A funding led by RTP Global. The fresh funds were earmarked to expand its global footprint across the US and APAC regions. In line with this, the company planned to expand its headcount across the engineering and sales departments.

Mesh

Companies offering tools to infer employee morale (through surveys and quick assessments) and productivity, including functions for goal setting, review, and feedback.

Companies that offer the entire spectrum of HR tools including payroll processing benefits, onboarding, compliance, analytics, scheduling etc

Companies providing either standalone or combined payroll and benefits services to businesses.

EoR - Companies that assist businesses in hiring distributed teams globally in compliance with foreign labor laws. EoRs become the legal employer of offshore employees. Solutions include payroll, benefits, and taxes.

PEO - Companies that offer similar services to EoRs but establish a co-employment arrangement with businesses and do not become the legal employer.

Companies offering tools such as chatbots, surveys, games, and other activities to infer, assess and improve employee morale and sentiment.

Companies that provide a centralized space for employees to access internal and external resources, enterprise applications, and enable workers to communicate across departments, and stay up to date on organizational announcements.

Solutions in this industry hub are predominantly offered under a B2B SaaS model

Employee and performance management solutions use AI/Ml to infer engagement insights and sentiment analysis

Offers tools for companies to hire contractors globally, and conduct employee and performance management

Wellbees

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