ALMI Invest is a venture capital company which invests in Swedish companies with exciting, scalable business models and motivated entrepreneurs. ALMI Invest consists of eight regionally based venture capital funds, all with local offices and experienced local investment managers. We manage a total of SEK 1 billion. Unlike most venture capitalists, we can invest in a wide range of businesses. A strong team of entrepreneurs, a scalable business model and an initial revenue stream are more important than the line of business when we invest. Our first, initial investment would typically be SEK 2-4 million. During the lifetime of an investment, sums of up to SEK 10 million can be ventured. We always syndicate with an investment partner (another venture capitalist or angel investor) from Sweden or otherwise which means that we can take a maximum of 50 percent of an investment round. ALMI Invest was founded in 2009 by ALMI Fretagspartner together with regional investors. Half of our capital comes from European Union structural funds, which accounts for an investment of SEK 500 million. The other 50 per cent comes from regional investors and ALMI Fretagspartner.

Almi Invest

Chalmers Ventures is a Swedish firm that specializes in coaching, financing, and business development. They invest in companies which find themselves at the initial stage of their development. The company was founded in 2015.

Chalmers Ventures AB

Frog Capital is a scale-up stage investor focused on software enabled businesses in Europe. Frog’s experienced team has invested in over 100 companies, and in the last five years has exited companies with a total transaction value over €1 billion. Frog is a committed long-term partner, investing in ambitious companies with revenue from €3m to €30m and requiring €5m - €20m of growth capital. By applying industry knowledge, a network of relationships and operating expertise, Frog actively supports exceptional company growth and builds significant shareholder value.

Frog Capital

Launched as Bonnier Growth Media in 2013, Bonnier Ventures is the venture arm of media group Bonnier. As a financially driven corporate venture investor, they make minority investments in fast growing digital technology companies across multiple growth stages.

Bonnier Ventures

Winningtemp

Winningtemp is a revolutionary technology developed to create prosperous and healthy workplaces. The company of the same name was founded in Sweden in 2014 by Mathias Hansson Fredlund and Pierre Lindmark, combining their comprehensive experience and expertise within IT and human resources respectively.

Sweden-based Winningtemp offers real-time employee engagement insights using machine learning and research-based surveys crafted from 600 research studies. In March 2023, the company added five new dimensions to its employee engagement offerings developed in collaboration with the University of Gothenburg (psychological safety, transparency, job fit, cross-department collaboration and subjective wellbeing).&nbsp;

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

Remote Work Infrastructure

Winningtemp’s practical guide to OKR and revolutionary goal setting

Sweden-based Winningtemp offers real-time employee engagement insights using machine learning and research-based surveys crafted from 600 research studies. In March 2023, the company added five new dimensions to its employee engagement offerings developed in collaboration with the University of Gothenburg (psychological safety, transparency, job fit, cross-department collaboration and subjective wellbeing).&nbsp;In addition, its performance management solutions provide continuous feedback sessions through one-on-one settings with custom-built templates, alongside goal-setting features and employee turnover analytics.The company generates revenue from monthly subscriptions priced at EUR 400 (~USD 430).Key customers and partnershipsAs of April 2024, the company had 300,000 weekly users across 1,500 enterprises.&nbsp;In April 2024, the company partnered with mental health treatment platform Braive, to integrate their offerings into Winningtemp, offered as an add-on service to clients.Funding and financialsIn October 2020, Winningtemp raised USD 18 million in Series B funding co-led by Frog Capital and Bonnier Ventures. Funds were earmarked to expand into the US and other international markets.&nbsp;

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

Winningtemp

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