Startup focusing on employee retention lands $1.9M from Valley, Triangle backers

The company on Tuesday announced $1.9 million in funding from people such as Scot Wingo, Richard Holcomb, James Avery and Susan Wall. “Even prior to the pandemic, we wanted to understand how work gets done in an organization and ultimately, help leaders drive towards healthier organizations and happier people.” Here’s how Pew research described the challenges facing companies in trying to retain employees: “Majority of workers who quit a job in 2021 cite low pay, no opportunities for advancement, feeling disrespected” The Durham startup looks to help with its focus on a “future-of-work” platform. We are often the first investors.” In the announcement, David Hehman, a partner at Underdog Labs, explained the reasoning for the investment: “Peoplelogic takes the mystery out of scaling an organization, helping companies gain key insights to better performance manage teams and retain key talent.” “Over the past two and a half years, Peoplelogic, has worked on building models and algorithms that provide critical early warning signs to businesses. So far, Peoplelogic has synthesized over 21 million employee interactions to better understand the intersection of team health and operational efficiency. One of the most intriguing features is StayFactor, a predictive score that indicates an employee’s likelihood to stay at a company—alternatively it provides an early warning sign of potential employee attrition.” Schmidt previously was co-founder of DZone Media and AnswerHub, which was acquired in 2017 after cracking the INC 5000 list for fastest growing private companies over six straight years.