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Serbian Orgnostic closes a $5M seed round to build data-informed HR practices

Luka Babic and Igor Bogicevic,, co-founders of Orgnistic
Image credit: Luka Babic and Igor Bogicevic, co-founders of Orgnistic
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The Serbian people analytics platform, Orgnostic, closed a $5M seed round led by the German growth-stage Earlybird Venture Capital with the participation of Script Capital, South Central Ventures, and a group of angels. Among the private investors are Eric Ries and Tiho Bajic from Lean Startup and LTSE, Rony Kahan who is the founder of Indeed, and Charlie Songhurst, former Head of strategy at Microsoft. 

The news follows the growth of the company to onboarding dozens of companies on its HR data-enabled platform in less than a year after launching their product. The growing client base comes as a result of the $900K pre-seed round that Orgnostic closed in September 2020 from the San Francisco-based 122 West Ventures, South Central Ventures, and some of the angel investors that joined in the seed round. 

The funding will be invested into turning their platform into a SaaS product to lower the barrier to entry into HR analytics, as well as for further development of the product and adding new features.

A team set for success

Both Luka Babic, Orgnistic’s co-founder, and CEO, and Igor Bogicevic, co-founder and CTO, have a background in scaling tech companies. Babic as the Head of People Operations at Croatian unicorn company Infobip and Bogicevic as a co-founder and CTO at the bioinformatics platform Seven Bridges Genomics. 

“Orgnostic is the result of all the issues we felt first-hand while building hyper-scaling teams and organizations. We believe there is a better way to operate and run organizations and teams using the data that we didn’t have at the time. We believe it should be simple, affordable and that we should serve teams and organizations helping them organize and navigate the complex landscape of HR data to build more sustainable, more efficient, and, ultimately, happier organizations,” Bogicevic shares on social media. 

Democratizing the consumption of human capital data for businesses

Orgnostic allows fast-growing startups to link scattered HR and finance data and enrich it by running surveys on top, in order to obtain valuable insights about their employees and organization. Its platform provides investors and leadership teams with insights that connect organizational dynamics with the company’s balance sheets.

The platform already allows companies to identify which employees are more likely to experience burnout, be more engaged, provide insights about pay difference sentiments and unpaid leaves, as well as to determine which topics are of particular interest for a given segment of employees. The team will now aim to develop the product so that it indexes future actions and serves the information to the preferred communication channel.

As of now, Orgnostic can cluster data by different company sizes, industries, geographies, and business goals. According to Babic, human capital data is among the most undervalued resources in a company, which otherwise can be used to optimize the way people design organizations, treat employees, and value companies. “To make foundational changes to leadership and organizations as a whole, we need to capture scattered and hidden organizational data and transform it into knowledge. Our outstanding team of engineers, data scientists, psychologists, product managers, designers, former HR Officers, and people analytics managers brings that vision closer to reality every day,” he concludes. 

 

 

+++ Read more about how another regional HR-tech  transforms organizations with blockchain +++

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Elena is an Innovation Reporter at The Recursive, an online media dedicated to the emerging tech and startup ecosystems in Southeast Europe. She is keen on sharing the innovation stories that shape the regional ecosystem and has a great interest in fintech, IoT, and biotech startups. Elena is currently finishing her Bachelor's Degree in Business Administration and Political Science at the American University in Bulgaria.