14 Sep 2021 | 08.52 am
PepTalk Funding Round Tops €1m
Haatch Ventures leads funding round
14 Sep 2021 | 08.52 am
PepTalk has announced completion of a €1.2m funding round and says it intends to hire an additional 15 roles across sales, marketing, and technology.
Founded in 2017 by ex-Twitter executive Michelle Fogarty, CEO James Brogan, and former Dublin footballer Bernard Brogan, the ‘culture tech’ company helps clients embed positive behaviours and habits designed to enhance team engagement and performance, especially in a hybrid work environment.
The funding round was led by Haatch Ventures, a UK based VC company which has previously invested in Irish tech companies such as Buymie and Scurri. Taxpayers are also investing through Enterprise Ireland, which previously made a payment of €230,000 to the company.
Operating company Langley Resources Ltd booked a net loss of €284,000 in 2019, bringing accumulated losses to €750,000. In December 2019, the company had €930,000 equity invested.
PepTalk says it has doubled turnover in the last 12 months. Customers include Linesight, Nitro (USA), PRL Group and Northern Trust. The venture currently employs c.20 people.
James Brogan commented; “The world of work is at a crucial inflection point, with the hybrid model now emerging as the clear winner. Organisations must consider how they build trust, connection, and shared experiences in this environment.
“Hybrid culture needs to be built with much more proactivity and intentionality and that is where our platform is now essential. Ensuring those social behaviours are nudged and enabled wherever employees are based. This is a fundamental part of performance culture and will impact productivity if not addressed.”
Niall McEvoy, manager of the HPSU division in Enterprise Ireland stated: “Enterprise Ireland is proud to support PepTalk’s innovative cloud-based employee wellbeing and performance management solution.”
Haatch co-founder Fred Soneya remarked; “We believe the space PepTalk is in is incredibly exciting. There is now an increasing realisation of the correlation between employee engagement and organisational performance, and with hybrid working we expect this trend to continue.
“The PepTalk team is very impressive, they have a deep understanding of this space and have shown exceptional growth in recent months. They are really well-positioned to scale globally, and we are thrilled to support them on this journey.”
Photo (l-r): Karl Tapley, Michelle Fogarty and James Brogan of PepTalk