On behalf of the One Model team I am excited to announce on our third anniversary of founding that we have secured an amazing seed round investment of $3.7M to take our people data platform to the next level for our customers.
2017 has been an incredible year of growth for us and has shown that our approach and value proposition resonates strongly with customers. So much so that we are yet to lose a single customer (0% churn) which is just about unheard of for a SaaS company that is now three years old.
Our vision hasn't changed, we believe that in order to fully deliver on the value to be found in people data organizations need One Model to connect and understand the data held in the dozens of systems they use to manage the workforce today. Effectively we become a secondary system of record free of the constraints that transactional systems (HRIS, ATS, Talent Management, Payroll) suffer from.
The last three years have been spent building out our core data platform, to connect and accept data from any source, to understand all the behaviors between data sets, and deliver our bespoke reporting and analytics platform. With this powerful framework in place we can add in more of the high value use cases that ordinary organizations would never be able to achieve on their own. Extending data with external sources, advanced algorithmic calculations, your own custom R/Python programs, and our incredible new automated machine learning tools. All running within our data pipeline and managed by HR.
We're incredibly excited about our immediate future and this investment gives us the resources to chase it down.
(press release below)
One Model Secures $3.7 Million in Funding to Fuel Growth in HR Data and Analytics Software Market
Austin, Texas, November 1, 2017 – One Model, the people data strategy platform, announced the closing of $3.7 million in Series Seed funding from The Geekdom Fund, Otter Consulting, Techstars, and Lontra Ventures.
The One Model team will leverage this additional funding to fuel its international growth strategy, accelerate enterprise adoption for its products, and to further develop its leading HR data and analytics platform.
“Getting to know the One Model team over the past couple of years made it an easy decision for us to want to lead this round. From the beginning, the team has been able to address major enterprise needs with their powerful HR data analytics platform driving data insights from machine learning, delivering this to customers flexibly while making implementation easy,” voiced Don Douglas, Managing Director of The Geekdom Fund. “One Model's people analytics infrastructure has changed how a number of organizations plan, execute, and evaluate their HR strategies and we are excited to support the proliferation of this game changing platform.”
“The HR departments of multinationals see the value proposition that One Model brings to their infrastructure, evidenced by the rapid growth One Model has experienced. The implementation time and dollars saved are enormous,” states Mike Wohl, the Investment Manager of Otter Consulting. “The future looks very bright for One Model and all of the companies that utilize their offering.”
The Austin, Texas-based startup is uniquely positioned to address a key pain point within the HR industry and is primed for growth. The company’s platform removes the heavy lifting out of extracting, cleansing, modelling, and delivering analytics from your workforce data.
“One Model sits at the center of all people data held by an organization. As such, we’re in a unique position to understand, extend, and deliver organizations with transformative value from this data. Our vision is that every company will need what amounts to a secondary system of record that connects together all of their disparate people systems and provides a level of insight that no transactional system can achieve on it’s own. We’re only beginning to scratch the surface of what is possible with the level of HR system interaction we are now achieving, and this investment allows us to double down on our approach” says Chris Butler, CEO of One Model.
Founded in late 2014, the company has rapidly grown to support HR data and analytics needs of customers in over 156 cities around the world. This additional round of funding continues to authenticate the universal need for improved HR data and analytics management, and to validate One Model’s decision to assume a leadership role in addressing these data challenges head-on.
“One Model leads the charge as the HR industry embraces analytics to improve career satisfaction, retention, and equity. The team is comprised of true industry experts who understand the nuances of enterprise software and the power machine learning. One Model’s robust pipeline of enterprise and channel customers will transform the lives of millions of professionals across the globe,” according to Andrea Kalmans, Lontra Ventures.
About One Model
One Model provides a data management platform and comprehensive suite of people analytics directly from various HR technology platforms to measure all aspects of the employee lifecycle. Use our out-of-the-box integrations, metrics, analytics, and dashboards, or create your own as you need to. We provide a full platform for delivering more information, measurement, and accountability from your team. Request a demo today at http://www.onemodel.co.
About The Geekdom Fund
The Geekdom Fund is a venture capital fund that invests in early stage IT startups in San Antonio, South Texas and beyond. It is managed by Riverwalk Capital, LLC.
About Lontra Ventures
Lontra Ventures is an Austin, Texas based entrepreneurial consultancy that specializes in life science consulting, and technology for high-growth companies.
About Otter Consulting
Otter Consulting, LLC operates as a venture capital firm. The company, which is headquartered in Florida, provides early stage venture capital financing services.
Techstars Ventures is the venture capital arm of Techstars. Techstars Ventures has $265M under management and is currently investing in their third fund ($150M). Alongside the VC and Angel communities, they co-invest in companies built by Techstars accelerator companies and alumni.
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