FSP advises Coast to Capital on Thrivemap investment
Venture Capital team advises on latest funding round.
The Venture capital team at Field Seymour Parkes led by Penelope Garden has advised Coast to Capital Growth Equity Fund on its investment as part of a £281,000 funding round into Thrivemap which includes £80,000 of angel monies facilitated by The FSE Investor Network.
ThriveMap, a software tool that measures culture fit between people and teams, is the latest company to receive investment from the Coast to Capital Growth Equity Fund.
ThriveMap have created a ‘culture fit tool’ to help candidates better understand how they liked to work and which companies they would be best suited to. This tool generated such significant interest from companies looking to recruit that the decision was made to make the tool the sole focus of the business.
Chris Platts, CEO at ThriveMap, comments: “HR talks about ‘company culture’, but we know that each team works in a unique way.” ThriveMap goes beyond the usual screens for culture fit by actually measuring how teams work and comparing this to a candidate’s preferred working style. ThriveMap through its unique algorithm, is able to assist employers when making crucial people decisions, which in turn massively reduces the chances of a cultural mismatch. “This investment round comes at a hugely exciting time for the company, as we look to scale up our team and focus on driving market awareness of ThriveMap.” adds Platts.
Avent Bezuidenhoudt, Senior Fund Manager at the FSE Group commented, “We are thrilled to add ThriveMap to our portfolio of companies that we have supported through the Coast to Capital Growth Equity Fund. Chris and his team saw an opportunity to advance the recruitment and staff retention process and have grabbed it with both hands. By enabling companies to accurately plot their existing workforces’ culture, they can hire new employees with the best chance of seamlessly joining the team, which saves a company time and money. We wish them all the best for the future and look forward to helping them reach their future goals.”