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A novel ‘founder dating’ experiment is helping HR tech startup Pyn secure a pathway to “world domination” and AUD$8.2M in new funding.
By plugging into the various technology solutions that an organisation uses, Pyn’s technology analyses data and makes well informed nudges to managers within the company.
For example, a company using Slack for their internal messaging and Workday for their financial and HR side, Pyn could recognise a high performing employee who hasn’t been given a raise in a year, and send a direct Slack message to their manager to consider upping their pay.
“You don't want to be in a situation where you're in month 18 and as a busy manager, you have completely forgotten to reward your high performers. Then suddenly they don’t want to stay here because you're not appreciating them enough,” Luijke said.
Pyn had been doing reasonably well during 2019, but the sudden shift to working from home during the pandemic put the HR startup into overdrive.
Luijke said that during the last half of last year, companies started thinking more strategically about communications and that led to an uptick in sales at Pyn -- although he’s reluctant to credit the increase to the effects of the pandemic.
Late last month the startup’s spiking growth was rewarded with an $8M investment round led by Andreessen Horowitz, with other investors including BambooHR co-founder Ryan Sanders, Accel Partners and Skip Capital.
Shopify, Rubrik and Carta are cited among the current customers, with Luijke saying that Pyn’s “perfect customers” are global companies with more than 250 employees, where scale can make it more difficult to maintain personalization.
It also helps cut through the problem of overcommunication that can sometimes come about with larger companies.“That's what we do in organizations, we over-communicate,” admits Luijke, who in a previous life was the HR manager for firms with thousands of staff.
“I used to send the same message to a select channel with hundreds of managers at Atlassian, a message that was only relevant to two or three, maybe a handful of people.”
So, what’s next for a company like Pyn with a focus on making HR managers nicer and more engaged?
“World domination,” Luijke chuckles.
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