Investment notes: GoFIGR

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Sprint is thrilled to announce our recent investment in GoFIGR’s $2.75M seed round, alongside Aliavia Ventures, Antler, Even Capital and Wollemi Capital.

Founded in 2020 by former Randstad colleagues, Nic and Helena, GoFIGR helps mid to large-sized businesses develop and retain critical talent. It’s a solution that addresses the pressing challenges of talent retention and employee skill gaps faced by businesses today.

Why we love GoFIGR

Escalating talent costs and skill gaps
Traditional talent acquisition methods are encountering obstacles due to the rising costs of workforce retention. Employee turnover has become an expensive predicament, as employees take their expertise and intellectual capital with them. This issue is particularly exacerbated by the shorter average tenure of younger generations (millenials and Gen Z) compared to their older counterparts, leading to heightened employee turnover rates. In fact, losing one employee can cost an organisation as much as 0.5 to 3 times their salary. In the case of a ~3,000 person organisation, avoiding employee turnover represents a multi-million dollar proposition.  

Furthermore, the workforce is experiencing growing skill gaps, which further intensify the challenge of retaining talent. A notable industry report has shown that 87% of executives are currently facing or anticipating skills gaps in their workforce, but less than half of them have a clear plan to address this issue. The scarcity of skilled employees and limited suitable training opportunities add complexity to the process of acquiring and retaining top talent.

The GoFIGR advantage
GoFIGR is solving these problems with its AI-driven talent marketplace platform. Their software is designed to precisely match employees with existing opportunities within their organisations, identify skill gaps and recommend tailored upskilling pathways and career options. 

The beauty of GoFIGR lies in its strategic focus on companies with up to 5,000 employees, a critical market segment that’s underserved by traditional enterprise players. As these businesses scale & navigate the complexities of talent management, they often face unique challenges in retaining and nurturing their workforce. By honing in on this market segment, GoFIGR has catered to their demands for a high-value talent management system without exorbitant costs. 

GoFIGR’s data-driven approach also gives them a substantial competitive advantage, streamlining talent management processes and delivering precise, unbiased skill gap analysis. They empower employers to make informed decisions, enabling targeted training initiatives and strategic workforce planning. Simultaneously, employees benefit from personalised skill-building opportunities that align with their career aspirations. As employees gain access to a personalised feed of opportunities they’re more likely to feel motivated and empowered. The result is an inspired and engaged workforce that drives heightened productivity and growth. GoFIGR is a compelling value proposition for organisations seeking an innovative approach to talent management.

Fuelling ambitious founders
Upon meeting the GoFIGR team, it was evident that Helena Turpin and Nicolai Lindholm
possess an unparalleled drive and foresight. Helena’s extensive background in business process and support roles, combined with her expertise in HR innovation and digital transformation, grants her a unique advantage in understanding the complexities of talent management. Likewise, Nicolai, as the CTO, brings over 15 years of invaluable IT experience from consulting firms, including Accenture, Deloitte, and CapGemini. Together, they form an exceptional duo with the skills required to execute on their vision – to help close the skill gaps of millions of employees around the world.

As Llew Jury, Sprint Executive Chairman, affirms: “I can confidently say we are investing in a force to be reckoned with. Helena and Nicolai are tenacious and understand their market deeply. Their collective energy, dedication, and innovative spirit suggest that GoFIGR has a very bright future ahead.”

With a rapidly growing client base, including Judo Bank, RACQ, The Motley Fool, Reece, and more, GoFIGR is an exciting growth prospect. The platform has garnered enthusiastic reviews from satisfied customers, underscoring the significant impact and value it brings to businesses. Best encapsulated by the words of one satisfied customer, “This is massive. I know we talked about it but it surpassed all of my expectations (I just don’t think I realised how impactful and fun this change was going to be). I am floored and excited!”. We can’t wait to see the team emulate this experience at scale & how they transform the future of work.

At Sprint, we invest in Australia’s best opportunities. If you’re an early-stage or growth-stage founder, Sprint can help you secure investment and support your growth with leading industry advisors. Apply for funding and we’ll sprint with you.