Moodwork, the French startup improving employee wellbeing, has completed a round of €2 million, led by Newfund, an investment fund specializing in seed. The funding will allow Moodwork to reach companies across the whole of Europe and tackle new sectors.
Moodwork, founded in 2017, offers employees tools both on desktop and mobile that measure their quality of work life. After analysing their current state of being, Moodwork offers personalised content, including psychologists, coaches, video tutorials and webinars, available to improve any aspects of working life that are not up to par.
With a user-centric approach, employees are put in charge of managing their own wellbeing, creating a sense of self-autonomy. They are first encouraged to analyse their current state of mind with a series of questions, such as “Do I get on well with my manager?”, “Are his/her decisions fair or unfair?” “Do I feel pessimistic lately?”, “Am I Tired?”. The tips shown to each employee are subsequently adjusted according to each person’s individual feedback. Employees most at risk, scoring below 40/100 in the well-being balance, are “invited to get in touch with professionals and thus avoid the risk of sick leave,” says Benjamin Brion, co-founder of Moodwork. For example, on a daily basis, employees can chat with experts through a chat box, run by four full-time employees. Most importantly, employees only receive general workforce reports and all data is anonymous, meaning that employees can feel comfortable being honest.
Léopold Denis, co-founder of the startup, explains why Moodwork was created: “What creates the most frustrations among employees is perpetual change. Companies are in transition and everyone tends to be under pressure. We tend to take the issue of well-being in its entirety, while it is strictly individual.”
To date, Moodwork has achieved more than 30 corporate clients to date (e.g. Engie, BNP Paribas, EDF) who each pay a subscription (of up to 5 euros per employee) to have access to a web and mobile application.
With this funding, the company plans to accelerate expansion to the UK and Germany, as well as double its workforce next year. It will target new sections, such as education, local authorities and the hospital world. “The idea is to create content adapted for all types of employees: in hospitals, for example, we will focus on caregivers but also support and administrative functions,” continues Denis Leopold.