GoCo acquired WFHomie, an employee experience and people analytics platform for remote-first companies. With it, GoCo hopes to help its customers automate their HR workflows so that they are efficient and intuitive for employees in and out of the field.
Founded in 2020, WFHomie is a Toronto-based company and platform that aims to help remote-first businesses understand, retain and support their employees. The company tracks passive and active data on internal behavior and performance trends to provide recommendations to managers.
As part of the transaction, the WFHomie team will join GoCo. At that point, the team’s focus will be on accelerating development of products for data-driven workplaces. In addition, the WFHomie team brings in a renewed commitment to expanding service offerings and creating new products to support the combined company’ vision, said the co-founder and CEO of GoCo, Nir Leibovich.
The acquisition follows GoCo’s $15 million funding round led by ATX Venture Partners. That represents a significantly higher valuation than its $7 million Series A round in February 2019. It also brought total investment in the company to $27.5 million.
Employee Engagement
According to a recent report by GoCo, four out of five HR professionals are feeling more pressure from leadership to retain top talent, and employee engagement programs are key to driving that retention.
In response, GoCo hopes to expand its suite of employee management solutions with more products and services aimed at enhancing experience and providing people analytics for measuring engagement. The acquisition of WFHomie is another step in that direction.
“We know that employee experience is top of mind for SMBs and the HR teams that support them,” said Leibovich. “Our team and our platform are growing rapidly in support of our mission to empower HR professionals, and this acquisition is a key step in that direction. It’s clear that the leadership of WFHomie share our vision, passion, and excitement for creating innovative products that help companies build better workplaces.”
Image: GoCo
