Employee engagement tech startup Mo gets £2.2m boost
London-based employee engagement startup Mo has been given a seven-figure capital boost from Newcastle investment firm NVM Private Equity.
Formerly known as Thanksbox, Mo provides proprietary technology to help organisations achieve success by strengthening relationships, sharing ideas and building stronger cultures and giving employees greater meaning at work.
NVM’s investment will be used to accelerate scale up of the business, expand the team and to deliver further technical progression in the platform.
The London-based business will use the £2.2m growth capital from NVM to scale up, expand its team and develop its platform, reports BDaily.
Mo connected with NVM at a London showcase event in 2018 hosted by Creative England which offered an opportunity for early-stage companies to pitch to potential investors.
NVM were immediately impressed with co-founder and CEO Luke Fisher, and there has been analignment of interest from day one.
NVM’s Jason Warren, who has taken a seat on the Mo board, said: “This is a really exciting deal for NVM. We were impressed from the outset by the clear vision Luke has for the business and the traction he has achieved over the last few years; it’s exactly the type of early-stage business we look to support.”
He added: “Organisations are placing more and more focus on employee engagement and we believe there is great potential for Mo to work alongside them to improve their culture.”
Mo CEO Luke Fisher commented: “We’re absolutely delighted to have partnered with investors that believe in our story and our ambition to create a better future of work.”