Initial Investment: 06/11/2017
Sector: Technology & Business Services
Investment highlights to date
- Undertook pricing review using specialist from our network resulting in >30% improvement in pricing.
- Significant investment in people including growing sales, development and support functions and supporting senior hires in marketing and customer experience.
- Establishment of a partnership sales channel which has now grown to 7 active partnerships and significant contribution to recurring revenue.
- Significant enhancements to the product including development of additional modules supporting a 50% increase in users worldwide since investment.
- Helped the business scale their impact by supporting increased employee productivity and wellbeing.
Edays is the type of business we set out to support with our Impact Fund as its software helps companies enhance employee wellbeing and improve absentee rates. By analysing staff sickness data, the software helps companies become more responsible and helps identify underlying trends to pre-empt future absence.
Edays presents a significant opportunity as it is estimated that 131 million days are lost to sickness absence in the UK per year and circa 50% of organisations do not calculate employee holiday and absence or manage it effectively.
The Palatine impact fund is the perfect investment partner for our fast-growing business, given the focus on positive social impact. The Edays solution has wide market appeal and already helps over 1,000 companies to better manage and track their employee leave and wellbeing. The Palatine investment will help us accelerate our market penetration, whilst continuing to enhance the product offering for the benefit of our customers and their employees.