Currently in a stage of hypergrowth, Blink has secured a Series A funding round of €17 million led by Next47 with participation from Partech and TechStars to reach a total valuation of €86 million. Founded in London in 2015, the company offers an all-in-one employee app for frontline workers, providing them with a ‘digital front door’ on their phone.
Today there are approximately 2.7 billion frontline workers globally, accounting for 80% of the world’s workforce. Despite what is now an undeniably dispersed workforce, existing enterprise software is largely aimed at the desk-worker. The result is a frustrated, unmotivated workforce suffering from high staff turnover, low engagement, customer satisfaction, margins, and an inability to move fast and adapt.
The SaaS startup is designed from the perspective of the online worker and aims to improve employee experience amidst a global recruitment crisis. With Blink, frontline leaders can align their teams, unify their systems, and drive their businesses forward while gaining a granular, data-driven view of employee engagement, sentiment and turnover across their workforce. The Blink app offers one-click access to tools, content, collaboration and workflows, seamlessly linked via Single Sign-On.
Founder and CEO, Sean Nolan stated that: “As labour shortages hit industries with historically high staff turnover, such as healthcare, it’s clear that wages aren’t the only factor driving employees away. Using Blink has become a competitive advantage in the battle for talent, with organizations using the app to attract and retain their frontline workforce.”
To date, Blink has over 93,000 enterprise users, and is one of the fast growing SaaS startups in Europe. Existing clients have been able to enjoy a 26% reduction of staff turnover, doubled employee satisfaction and have seen promising return on investment in under three months. In less than two years, the company has grown from 14 employees to 70, and are projecting to double again within the next 6 months.
Part of this growth includes plans to expand into North America. Responding to growing demand with the US market, Blink is hoping to grow a team of 40 employees in North America, and will also relocate key members of the executive team, including Sean Nolan, from London to New York.
Blink currently serves over 50% of the UK transport market, including National Rail, Stagecoach and Go-Ahead, and already has over 100 U.S. clients across healthcare, transport, logistics, manufacturing and government, including Falck and Coach USA.
The funding announced will give Blink the ability to accelerate their product roadmap, develop industry integrations (including HR and people platforms), and bring the “vision of a better everyday for every frontline worker one step closer”.