Data Science Investment Counter —Funding raised by UK data science companies in 2018.
£ 5.640 Million

AI Company Status Today Raises £2.8M in Seed

Artificial Intelligence company Status Today has raised £2.8 million ($3.91 million) in a Seed round led by Saul Klein’s Local Globe , and backed by Firstminute Capital and Notion Capital.

The company combines data and AI analysis to allow companies to keep track of how  their employees behave  in real time.

“We are in the ‘let’s change the way you work’ business,” StatusToday cofounder and CEO Ankur Modi said in a statement.

“We’ve already seen lots of changes in where people work, when they work and the range of devices they use. StatusToday is a service designed for the modern workplace, that helps companies understand their effectiveness in this new environment. We are building the world’s largest information source on employee behavior and know that companies and employees will both benefit from the insights we can provide. We want to get as many people using it as possible,” Modi added.

A former Microsoft employee, Modi launched StatusToday in 2015 after meeting cofounder Mircea Danila Dumitrescu  at London-based “startup factory” Entrepreneur First.

Since then, the company has  gone on to develop three patent-pending technologies, and claims to cater to 200 companies already.

Now, the fresh injection of cash will be used to attract more clients, improve the firm’s proprietary AI technology, and expand its team— which right now comprises 14 people based in London and Ukraine.

LocalGlobe founder Saul Klein commented on the new round in a statement: “StatusToday is revolutionising the way managers think about their teams and their productivity,” he said. “We are very excited to be working with them. We believe StatusToday will bring a new transparency to the workplace that will benefit everyone.”

Firstminute Capital’s Brent Hoberman also commented on the deal: “The potential to use data and AI to provide employee insights is a huge area of potential that is largely unexplored. StatusToday is carving out a unique niche and we look forward to watching the service expand and succeed,” he said.

Image via Status Today

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