Funding will help the startup scale to meet increasing need for employee leave management in dynamic employment environment
Minneapolis – Sofia Fund, a leading angel investment group that invests exclusively in women-led companies, has made its most recent investment in Colorado-based employee leave management companyTiLT(Talent in Leave Technology).The investment is part of the startup’s recent oversubscribed Series Seed round of funding.
TiLTtechnology helps effectively manage employee leaves of absence. Itsinnovative platform improves communication between employers and their employees while simplifyingthe related workload for HR, managers and those on leave. It reduces risks to companies by ensuring theprocess is compliant with current legislationand helps remove the fear and biasassociated with leaves.
The most common employee absence isfamily leave. Now, caregiving, mental health breaks and other illness-related leaves are on the rise, due to COVID. From impacts on employee morale and turnover, to potential costly litigation, leaves cost companies millions of dollars every year.
“Sofia Fund’s investment is part of this new stage of growth forTiLT. It will be used to deliver the solution toHR leaders who are already juggling the dynamics of a highly fluid workforce, due to changes caused by the pandemic,” said Jennifer Henderson, founder and CEO of TiLT, who started the company based on personal experience with her own leaves of absence from large corporations to give birth to her children. “Handling employee leaves well truly impacts lives. The TiLTteam brings talent, ingenuity, and passion to this opportunity; we’re out to revolutionize workplace leaves."
Henderson indicates the funds from its most recent round of investment will be used to expand automation and integration on the platform, and add sales and customer service resources to respond to an expanding pipeline of prospective customers.
“Our interest in TiLTwas first based on its strong women-led team,” said Joy Lindsay, Sofia Fund partner. “As we learned more, we wanted to support the opportunity for all people in the workplace to have their leaves managed proactively and respectfully. Leaves from work areimportant milestones, especially in most women’s careers, so it’s vital to make the experience positive for all parties.”
Founded in 2017, TiLT is based in Fort Collins, Co., and is part of the 2020 Techstars Accelerator on Workforce Development, which focuses on addressing the challenges of the modern dynamic labor market through innovative technologies.