Rapidus was first to report that Eletive, a Malmö based startup, has secured a bit over € 1 million (SEK 11 Million) funding from its existing and new shareholders. It plans to use the funding for the company’s domestic and international expansion.
Founded in 2014, this platform is a software tool which provides deeper insights into the companies culture and measures wellbeing and engagement in organisations. In this region there are multiple startups in this field, with Peakon, which was recently acquired, and Wellbefy being the most known ones.
The investment will enable Eletive to continue it focus on improving the strong position it has in Sweden and Norway. With customers in 19 countries, the startups platform is built to as per the market’s requirements by enabling functions of the platforms to turn on and off.
“As a growth company in a red-hot market, profit is not the highest priority, the focus is on growing. We do not need to bring in money to survive, but have made monthly profits and want to be able to accelerate when the industry is in a big shift to modern technology in the next few years,” says CEO Marcus Wennmo to Rapidus.