HR Signal, a Cleveland, OH-based HRTech platform that helps companies proactively retain their employees by leveraging proprietary insights to foster successful career paths, has recently raised $1.6 million in pre-seed funding.
The round was led by Gammite Ventures and Tzur Daboosh and joined by Aaron Grossman, CEO and founder of TalentLaunch in Independence.
The company aims to improve employee career paths to keep companies growing.
Speaking about the company, Co-founder & CEO of HR Signal, Sagy Cohen, said: “We also have to buy a lot of data. Our algorithm processes billions of data points every month. So that’s the third category of (capital) spend. The company, which already has benchmarked 50,000 job positions, uses data and algorithms to predict whether a worker is getting ready to jump ship, giving employers time to take steps to retain the employee. Our first product, which is this predictive retention risk score, helps employers know who to have a stay interview with.”
HR Signal’s channel partners include HR consulting firm ERC, which is used by 1,500 companies that want to improve their workplace culture and promote it from within. So far, the platform has been in prolonged soft beta mode to refine its algorithm’s output, and it has worked with employers ranging from 30 people up to 3,600.
Company: HR Signal Technology, Inc.
Raised: $1.6M
Round: Pre-Seed Round
Funding Month: March 2023
Lead Investors: Gammite Ventures and Tzur Daboosh
Additional Investors: Aaron Grossman
Company Website: https://www.hrsignal.com/
Software Category: HR and Talent Management Solutions
About the Company: Founded by Andrew Spott, Daniel Gilon and, Aaron Goodman, Sagy Cohen, HR Signal is a software-as-a-service platform with a hands-on team of professionals. Its products and services are designed to support an organization’s employee retention, workforce planning, and culture. HR Signal delivers real-time insights to proactively retain employees, energize career paths, strengthen talent development, and truly understand company workforce trends. HR Signal™ uncovers proprietary insights to help employers to better understand and nurture their people.
Source: https://www.edtechreview.in/news/cleveland-hrtech-startup-hr-signal-raises-1-6m-in-pre-seed-round/