IdeaSpace Invests in Startups Focused on Smart Contracts, Employee Experience Analytics, and Fitness Discovery.
After finishing the ninth cohort of the IdeaSpace acceleration program, IdeaSpace Foundation, the startup assistance organization that operates IdeaSpace and QBO Innovation Hub, announced a fresh financing round. The IdeaSpace Investment Committee has decided to invest Php 1 million in Betterteem, Fitscovery, and Twala following the IdeaSpace Demo Day.
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| IdeaSpace Invests in Startups Focused on Smart Contracts, Employee Experience Analytics, and Fitness Discovery. |
In addition to offering employee assistance programs (EAPs) on demand to make mental health support available in the workplace, Betterteem is an AI-powered workplace app that uses predictive analytics for benchmarking and insights. It also features a digital community for social interaction, gamified fitness, rewards, and incentives.
Software as a service platform called Fitscovery enables MSME fitness businesses to go online and allows customers to look for the best trainers and programs for their needs. The platform gives them resources to construct websites with integrated booking and payment systems and systems for managing events and customer databases, which automate sales and enhance exposure to new customers and partners. Additionally, they give business clients a platform to offer their employees tailored health and exercise regimens.
Twala is the nation's first document management and eSignature platform, driven by smart contracts on the Ethereum blockchain. It intends to speed up this crucial business process for post-pandemic remote work by cutting down on contract signing time, courier costs, and fraud occurrences.
IdeaSpace President Butch Meily said, "We chose these three businesses because they have shown clear and solid strategies to achieve rapid growth and have identified a substantial market opportunity in their respective areas. "They have also demonstrated the capacity to scale swiftly throughout the IdeaSpace acceleration program."
Betterteem currently has over 3,000 active users and collaborates with more prominent organizations in the IT-BPO sector like Accenture and Startek. With a 28 percent monthly growth, Fitscovery now has 318 vendors and more than 5,000 customers. The platform is presently being used by over 2,000 individuals, over 200 businesses, and 7 corporate partners, which has contributed to a reduction in contract signing time from 7 to 14 days to 2 hours or less.
Katrina Rausa Chan, executive director of IdeaSpace, stated that "Betterteem, Fitscovery, and Twala are all developing highly relevant, customer-centric, digital transformation solutions, and we expect demand for these innovations to only grow as the Philippines rapidly evolves into a more mature digital economy." "The founders of each of these firms have the extensive industry knowledge and have demonstrated their ability to execute during our acceleration program. We are confident that our investment will accelerate their expansion as they meet new demands from different firms.
Contact hello@ideaspacefoundation.org to arrange appointments with Betterteem, Fitscovery, and Twala and learn more about their services.