GSD Portfolio company Xoxoday is shaking up the HR Tech industry after landing a $30M investment deal, securing key partnerships, and their recent feature at the globally recognized SHRM 2022 annual conference. Xoxoday secured its milestone investment from Apis Partners and Giift shortly after participating in the GSD Labs accelerator program founded by Gary Fowler and his team.
The employee incentives SaaS is a full-stack, embedded solution that enables businesses to automate rewards, incentives, and payouts to build a happy and engaged workforce. Their software makes it extremely simple for companies worldwide to run scalable rewards programs linked to business KPIs.
Xoxoday has three SaaS products tailored to each stage of growth. ‘Empuls’ helps organizations build an engaged workplace where everyone is connected, aligned, and motivated by utilizing community groups, feedback surveys, rewards, and recognition tools.
‘Compass’ turbocharges sales teams, channel partners, and gig workforces with gamified incentives using publish programs, live scorecards, trends, and payments.
‘Plum’ is designed to deliver delightful customer experiences with campaigns that work across the consumer lifecycle, re-engage lost leads, and optimize growth based on the tenets of reciprocity with rewards, incentives, and payouts.
With the wealth of knowledge and expertise Gary Fowler brings to the table as an award-winning AI executive, co-founder of GSD Venture Studios, and former founder of HR Tech disruptor Yva.ai, he has led many promising companies to success, and Xoxoday is certainly no exception.
“I am so excited to welcome Xoxoday into the GSD portfolio. Having helped grow several HR Tech startups to unicorn status, I know one when I see one and Xoxoday certainly checks all the boxes,” said Gary Fowler, CEO, and Co-founder of GSD Venture Studios.
Gary’s recent exit from Yva.ai made headlines when it was announced that the company would be acquired by HR and workforce analytics provider, Visier. Yva.ai has dominated the HR technology space by becoming the only software company that uses teachable AI systems to provide a high-level of transparency within organizations to make informed decisions about where resources are best utilized.
The COVID-19 pandemic set record-breaking statistics as it relates to employee satisfaction citing reasons such as low pay, little opportunity for advancement, and poor treatment, according to Pew Research. This led to an unprecedented churn in the labor market now being coined the “great resignation.”
“It is vital for modern enterprises to hire and retain top talent, which for most companies is a forgotten objective and for many more is just a lofty goal. It’s just not happening,” said Gary Fowler, CEO, and Co-founder of GSD Venture Studios.
By now it is clear that Gary Fowler and Manoj Agarwal and his team have successfully disrupted the HR industry. By being in the right space at the right time with the right product, they both have become pioneers with unique and disruptive solutions that utilize transformational AI and SaaS technology to solve today’s pressing employment problems.
To date, Xoxoday’s rewards, incentives, and payouts programs have delivered a 20% savings on incentive budgets, and increased sales productivity by 80%, with ten times higher productivity and conversion. By building rewards and incentives into the employee experience, organizations that use Xoxoday can recover from the global impact of resignations.
It is no surprise that Xoxoday has been catching the attention of investors, organizations, and other HR industry leaders by making great strides in improving employee engagement. Thousands of companies of all sizes, from start-ups to large enterprises, now use Xoxoday’s business currency to send rewards, perks, incentives, & disburse payouts.
“This year we are seeing the results that took years to build. We are proud to see the ripples of impact we’ve created in the HR industry,” said Gary Fowler, CEO, and Co-founder of GSD Venture Studios.
With the HR Technology industry transforming at the speed of light, it will be exciting to see where companies like XoxoDay and recently acquired Yva.ai go next.
Xoxoday has been invited to present at numerous events, including the annual SHRM conference in New Orleans, LA, this June. Xoxoday is pleased to join the SHRM mission; to elevate the world of HR and impact employees’ lives worldwide.
Originally published in VoyageNY