Upon securing $1 million in angel investment, Greatify‘s CEO Thierry Poitras said “at this stage in our company’s growth, we need not just investments, but guidance and sound advice as well.”
The company created a software solution for customer service teams encountering employee engagement difficulties often associated with high staff turnover. MTLinTECH profiled the Quebec City-based startup in late July, when Poitras told us he wanted to motivate five million employees within 10 years.
Now he’ll have a healthy cash runway of $1 million for the foreseeable future. It came in June from 21 members of the Anges Québec network along with Anges Québec Capital, but the deal wasn’t officially announced until this past week.
Founded in 2015, Greatify calls itself a multiplatform digital solution for those companies experience problems with employee engagement, which usually leads to high turnover. They’ve got about 4,000 users through clients like Telus, Intact Insurance, Ikea and Desjardins.
“Whether they’re in sales, customer service, or another department, Greatify users have a better understanding of their company’s objectives, are more aware of their progress in their daily duties, and are recognized by their peers and coworkers for their work,” said Poitras. “Greatify helps companies improve employee engagement and limit expensive problems such as staff turnover and absenteeism.”
Greatify said it would use the funding to expand its client base, including to new markets.
“I feel proud and privileged to guide these entrepreneurs as they expand their thriving business,” said Robert Branchaud, the lead angel in this investment. “Greatify’s solution isn’t just innovative, it stands out because it is so adaptable. It has huge market potential and is easily exportable.”
It’s not a stretch to think that low levels of employee motivation can lead a company to lose out on sales.
“Motivation at work isn’t just for employees and managers – it’s anyone,” Poitras told MTLinTECH. “People want to be engaged in something. They want to feel part of something bigger than themselves and when that works it’s a good situation for any organization, not just businesses.”
Moreover, the problem of employee motivation can be especially serious in call centres, he said.
“I’m sure you’ve had a situation where you were in a company that was not so inspiring, you had no real leaders or you felt disengaged. This is not a good thing to have,” said Poitras. “A lot of people working in call centres have difficulty being engaged at their job. This is a really big challenge that we set ourselves on.”
Greatify mostly organizes contests for sales and customer service teams. As an incentive program solution, the company uses the principles of gamification: the use of game mechanics (points, badges, leaderboard) and experience design to digitally engage and motivate people to achieve their goals. To make achieving goals more fun for employees, managers can use Greatify to develop contests with which employees can win prizes, badges or ranks when they achieve specific milestones or goals.