Pre-seed fund LOI Venture backs $1.5m funding of WFHomie

WFHomie, a Toronto-based employee engagement and distributed team culture analytics platform, has secured $1.5 million in financing.

WFHomie, a Toronto-based employee engagement and distributed team culture analytics platform, has secured $1.5 million in financing. LOI Venture, a C$20 million pre-seed fund created by Hootsuite founder Ryan Holmes and New Avenue Capital founder Manny Padda, invested in the round.

PRESS RELEASE

TORONTO–(BUSINESS WIRE)–WFHomie, a leading Canadian employee engagement and distributed team culture analytics platform, announced today the raise of USD 1.5M in funding. Ryan Holmes, Co-Founder of Hootsuite and Manny Padda, Angel Investor and Board Member of League of Innovators, participated in the round with their new fund, LOI Venture.

WFHomie’s platform makes building real human connections between employees easier by analyzing employee engagement and identifying gaps in team behaviour. Based on this data, WFHomie provides curated recommendations on actions to take, leveraging the platform’s unique set of virtual experiences, team-building activities and employee appreciation opportunities. This helps companies attract and retain top talent, boost their employer brand, and keep culture alive, even in the remote workplace. Following its initial launch in Toronto and Montreal, WFHomie is now looking to continue growing its customer base across the rest of the U.S. and Canada. Proceeds from the round are being deployed to facilitate this global expansion and enhance the company’s platform and analytics capabilities.

“There are far too many people working from home who are feeling isolated and are on the verge of burnout. WFHomie was created to fix that,” says WFHomie Co-Founder and CEO Pavla Bobosikova. “We’ve seen the great resignation change the way employers are treating their staff. With this new raise, we can continue to grow our team, our analytics and AI-powered recommendations capabilities, and continue to acquire new customers.”

“Employee burnout and top-talent turnover has plagued companies over the years, and it’s more prevalent than ever coming out of 2021,” says WFHomie Co-Founder Reza Farahani. “With this new raise, WFHomie is just scratching the surface of where we are going in the world of employer-employee relationships and human connection in the workplace.”

Ryan Holmes and Manny Padda Co-Founded LOI Venture to provide more capital and mentorship for Canadian founders under 30. The $20M pre-seed fund is positioned to help accelerate early-stage startups in Canada who enroll in the League of Innovators program.

“WFHomie was the perfect opportunity to be the first recipient of funding from our new LOI Venture fund. They encapsulate everything our fund sets out to be, providing more capital and greater mentorship to young Canadian entrepreneurs,” says Ryan Holmes, Co-Founder of Hootsuite. “WFHomie is bridging the gap of hybrid, remote work and has a deep understanding of what’s needed to build those meaningful relationships.”

WFHomie helps to identify signals in employee engagement that might indicate burnout or loss of interest in their work, ultimately creating lower productivity and top talent churn. By identifying these signals early on, WFHomie can provide HR and people leaders with the toolset to take action and be intentional when driving culture. The WFHomie platform automates the planning and execution of recurring team-building and social events, health and wellness workshops, and learning and development growth programs. With a large customer base of Wealthsimple, BMO, Microsoft, and Google, WFHomie has solidified a strong Canadian foundation and is eager to expand its reach across North America with this new raise.

About WFHomie
WFHomie is an employee engagement analytics and culture-building platform that provides distributed and hybrid teams with the tools they need to attract and retain top talent, prevent employee burnout and help team members build meaningful relationships. By identifying gaps in employee experience, WFHomie provides recommendations and automates the execution of virtual experiences and team-building activities. The WFHomie platform puts onboarding, peer-to-peer appreciation, employee gifting and recognition on autopilot. Leveraging a set of integrations with Slack, G-Suite and various HRIS systems, WFHomie enables companies to operate more effectively with data and seamless employee experience execution.
Learn more at https://www.wfhomie.com