Frontline Ventures, ACT, Enterprise Ireland, angel investors back Tandem HR Solutions, an Irish company which has developed a powerful new HR Tech solution to help organisations re-shape how employee performance is managed.
Tandem HR Solutions, the Irish company which has developed a powerful new HR Tech solution to help organisations re-shape how employee performance is managed through driving enhanced coaching and feedback practices, has attracted €2m in Seed funding from investors led by Frontline Ventures, along with ACT Venture Capital, Enterprise Ireland and angel investors. www.tandemhrsolutions.com
The €2m investment will lead to the creation of 40 new jobs over the next three years as Tandem continues to grow and expand its business from Ireland into international markets, with a range of blue-chip clients already using its platform.
Tandem is currently based at NDRC in Dublin and will expand into new office space in the coming months. Tandem emerged from NDRC’s Female Founders programme, run in partnership with Enterprise Ireland.
Tandem was founded in 2016 by Aisling Teillard (CEO), Jim O’Brien and Clare Bonham, who have an expert background in human resources, HR technology and workplace culture.
Teillard and her co-founders saw that traditional Performance Management needed to change. They designed a unique technology solution, combined with a change management methodology, to create clear and tangible feedback processes for organisations. The Tandem platform helps to create a positive workplace environment where feedback and coaching drive not only individual growth but also real business outcomes.
It is designed to reshape how performance is managed, through accelerating feedback and coaching practices in organisations, resulting in stronger engagement, satisfaction and retention. Through providing rich feedback and coaching cultures, organisations can sustain high performance and realise results on their bottom line.
The potential of this innovative approach was recently recognised at Europe’s largest HR technology event in Paris, where Tandem beat off competition from over 100 global entrants to win the prestigious Disrupt HR award.
'Tandem's tool moves companies beyond performance management into a new level of cultural change'- Ben Hurley, CEO, NDRC
Tandem CEO Aisling Teillard said: “By enabling feedback to flow organically throughout an organisation, you can accelerate the personal growth of your people and enable them to take ownership over their own development, in alignment with organisational goals. This is increasingly being realised across the world where,we want to become the number one feedback and coaching tool of choice for mid to large scale organisations globally. It’s great to be supported in this ambition by leading technology sector investors.”
The three co-founders of Tandem HR Solutions will be joined on the board by Stephen McIntyre of Frontline Ventures, John O’Sullivan of ACT and investor Alan Coleman, CEO of Britebill.
Stephen McIntyre, Partner, Frontline Ventures said: “Performance reviews focus on the past, developmental reviews look to the future. Progressive companies are moving away from annual set-piece feedback cycles, which end up being stale, time-consuming, and de-motivating. Tandem is harnessing this global trend towards real-time (more accurate), lightweight (less work), and developmental focused (more motivating) feedback. We're very pleased to support the founders as they build a global business.”
John O’Sullivan, Director of ACT Venture Capital said: “Organisation performance, in any sphere of activity in any given circumstance, is possibly the greatest shared challenge for individuals, teams and managers. Aisling and the team at Tandem have brought something very unique and valuable to this – they are transforming performance management. We have seen these issues first hand as our companies scale and the value that is created for everyone involved, when it is done well – Tandem makes this accessible and repeatable for any organisation interested in performance.’’
Niall McEvoy, Manager, High Potential Start-Ups of Enterprise Ireland said: “There is a disruptive trend happening in the HR Talent Management and the Human Capital Management application market globally and Tandem is considered an early adopter in this space. A key focus for Enterprise Ireland is helping companies like Tandem to start-up, innovate and scale internationally and Tandem is a really great example of a female led highly innovative Irish company with global ambition. The company has already identified and secured progressive blue-chip customers and is attracting interest globally. Enterprise Ireland will continue to work closely with Tandem and support their growth ambitions as they expand their reach, strengthening their customer base internationally.”
Ben Hurley, CEO of NDRC said: “Working with Enterprise Ireland, we identified Tandem at an early stage as a rising star for inclusion in the NDRC Female Founders Programme. They have developed a new HR solution which provides businesses with a full understanding of what is happening from end to end across their organisations. This moves beyond performance management into a new level of cultural change where continuous feedback and communication are at the heart of progress and best practice in human resource management.”
About the Investors
Frontline is an early-stage B2B venture capital ﬁrm with offices in Dublin and London. Frontline has invested in over 30 software companies in the past 4 years and seeks to invest in another 30 in the coming 4 years.
ACT Venture Capital:
ACT is an international technology venture firm providing capital to fuel growth. ACT’s investments span technology sectors and investment stages ranging from seed to growth. The firm has raised over €450m to back ideas and Companies with unique approaches.
Enterprise Ireland is the Irish Government agency that works with Irish enterprises to help them start, grow, innovate and win export sales in global markets. Enterprise Ireland partners with entrepreneurs, Irish businesses, and the research and investment communities to develop Ireland’s international trade, innovation, leadership and competitiveness. In this way, we support sustainable economic growth and regional development, and help create and sustain employment in Ireland.
NDRC sources and builds digital start-ups to invest in and work with, providing them with an integrated offering of knowledge, experience and expertise and enabling them to become market ready faster, more successfully and more efficiently than otherwise. With a mandate from the Department of Communications, Climate Action and Environment, NDRC aims to ensure digital entrepreneurship is a growing and vibrant part of the economy.