August 23, 2024
Swiss HR Tech Startup FLOWIT Raises CHF 4 Mio in Seed Round to Expand AI-Based Employee Development Platform
Zurich, Switzerland – August 22, 2024—---
FLOWIT AG, based in Opfikon, Zurich, has successfully raised CHF 4 million in its seed funding round. The round was co-led by Vi Partners and Alstin Capital, with notable participation from angel investor Daniel Gutenberg. The funds will be used to scale the company and expand its AI-based “digital coach” platform internationally, further enhancing employee development in industries traditionally underserved by HR technologies.
About the company
FLOWIT AG, an HR Tech startup, founded in December 2020, is revolutionizing personnel development with its AI-powered platform. The company focuses on non-desk employees, such as service technicians, healthcare workers, and hospitality staff, providing them with real-time feedback and development opportunities. Since its launch in September 2021, FLOWIT has attracted over 70 customers across the DACH region, with more than 30,000 employees utilizing its platform. The solution has proven to reduce employee turnover costs by up to 50%, offering companies significant savings and improved employee engagement.
Purpose of financing
FLOWIT plans to use the funds to expand its platform’s capabilities, enhance its AI-driven features, and grow its team from 20 to 50 employees by the end of 2025. The company also aims to increase its presence in international markets, addressing the growing demand for effective HR solutions that support all employee levels.
What the investors have to comment
Gaetano Zanon of Vi Partners expressed enthusiasm about FLOWIT’s potential, noting, “FLOWIT’s generative AI-powered platform offers innovative solutions for the 80% of the global workforce without desks. The founding team, led by Bilâl and Yasemin Tahris, combines passion with extensive industry experience and has already achieved significant success with large companies in Switzerland and Europe.”
Daniel Gutenberg, who has invested in 15 unicorns, commented on his participation in the round: “FLOWIT uniquely combines innovation, market demand, and a strong team. It’s undoubtedly ‘the next big thing’ in People Development and HR-Tech.”
Alexander Meyer-Scharenberg from Alstin Capital highlighted FLOWIT’s impact on reducing employee turnover, particularly in labor-shortage-stricken markets like Germany.
Conclusion
FLOWIT’s achievements have not gone unnoticed, as the company won the Swiss HR Awards in 2022 and the Swiss Economic Award in 2024. With these accolades, FLOWIT is poised for continued growth and innovation, redefining the employee development landscape.
For more information, visit
Website : flowit.ch
LinkedIn : Company Profile