Series A investment with Synergy Venture Fund as lead investor
Milan, 30 May 2022
Glickon, a leading company in the HR tech software market for medium and large enterprises, has announced a Series A investment round, with €3 million already subscribed by Synergo Capital SGR's Sinergia Venture Fund as lead investor in the deal.
The capital raised will be used to support the company's market expansion in Italy and abroad through a well-defined development roadmap that includes the creation of new solutions based on emerging AI and big-data technologies and pursuing the mission of making the work experience better for employees of medium and large companies worldwide. Glickon is one of the most relevant SaaS (Software as a Service) companies today, with innovative solutions to improve the hiring process ('hire') and the growth and development of people in the company ('grow').
The core elements of the platform are on the one hand a set of features to improve and simplify the candidate selection experience and employer branding of companies and on the other hand content and tools to motivate and retain talent with onboarding, training and development paths oriented to the well-being of individuals. These types of paths come to life with interactive game content (quizzes and surveys) and multimedia (videos, images, and podcasts) and offer the possibility of transforming people's processes and interactions at work into real experiences.
The market for software related to improving the work experience continues to grow and faces the challenge of 72 percent of people sharing unsatisfactory experiences online and with their network and 27 percent of people actively discouraging other people from applying at that specific company (Source: CareerArc).Another key finding of the Work Trend Index report is that 43 percent of employees are likely to consider leaving their current job this year, which marks a 2 percent increase since the last WTI (Source: Microsoft).
Through its ability to manage 'people data' with innovative and privacy-compliant technology solutions, Glickon has already won two awards from Gartner, in the Voice of the employee solutions segment - that is, the implementation of data sharing processes from the corporate population - and Workforce Analytics and Organizational Network Analysis, supporting client companies in extracting maximum information value from the 'voice' of colleagues (Sentiment Analysis) to develop formal and informal relationships (Organizational Network Analysis) to improve the employee experience and generate valuable business insights. "It is an extraordinary opportunity to have Simone, Giacomo and the Sinergia Venture Fund team with us," says Filippo Negri co-founder and CEO of Glickon. "From the very first meeting we saw an entrepreneurial approach, leadership and culture unique in the Italian and international venture capital landscape. After the path and recognitions of the last years, we take this new opportunity with deep enthusiasm and responsibility.
Enthusiasm for a new chapter in our history and for the opportunities that await us in a market undergoing profound transformation. Responsibility to all our stakeholders and to those around the world who, every day, want to have a better working experience. "Synergo Capital was assisted for legal aspects and related due diligence by Giulia Bianchi Frangipane and Enrico Goitre of the firm BonelliErede, and for fiscal-financial, sustainability and technological due diligence aspects by the firms Spada Partners, beLab and C22, respectively.
Glickon's Series A is in addition to previous Seed rounds that had raised 2.4 million euros and coincides with the Italian company's transformation into a SpA. At Glickon, the transaction was managed by Matteo Corte, co-founder and CFO, assisted on legal aspects by Sarah Lo Piparo, Attilio Mazzilli and Alessandro Vittoria of the Orrick firm and by Elena Henny, Michele Depalo and Kevin Tempestini of KT&Partners as financial advisors.The notarial aspects of the transaction were followed by Giovannella Condò, co-founder of Milano Notai.