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Madhukar Govindaraju, Founder and CEO“With changing times and newer challenges due to remote working and distributed teams, organizations are looking to ramp up their eLearning initiatives to keep the wheels turning on their training and skill development initiatives,” says Madhukar Govindaraju, Founder and CEO, Numly. Though businesses have always relied on measuring hard skills using the Learning Management System, soft skills fall into a different category altogether. They are the hardest to learn and very difficult to measure.
In 2018, Govindaraju’s team conducted an extensive researchby surveying 18,500+ professionals across different industries and career stagesto gather data around what skills mattered the most for an employee’s career growth, and this became the basis of Numly’s AI-enabled Networking and Internal Coaching platform - NumlyEngage™. Based on the data gathered through this research, Numly identified the set of hard and soft skills that are critical for nurturing leaders and has designed tailored coaching programs to develop and refine employee skills in an iterative and continuous process.
NumlyEngage™ Enterprise has a comprehensive catalogue of over 185 soft and 225 hard skills, intended to develop core functional competencies like Sales, Inside Sales, Customer Success or Research and Development. The platform’s AI and Machine Learning algorithms study user behaviors across the entire organization and tailor specific learning and coaching recommendations via nurtured actions.
The secure and privacy-first, cloud based platform, gathers rich data and analytics about employees to construct profiles that are used to highlight weaknesses, strengths, and areas of growth so that employees can be connected with skill development coaches, within the organization. Its AI-bot ‘Bobot™’ makes contextual recommendations about the direction of coaching tailored to specific employees.
Organizations get to benefit from deep engagement insights made available via actionable global dashboards and rich analytics powered by Machine Learning. “We want to enable People Managers at all levels with the accurate insights on placing the right talent at the right place,” adds Shalini Ramakrishnan, Director of Product Marketing, Numly. Organizations get to identify and methodically nurture high-potential talent using the skill dashboards while also gaining actionable insights from attrition and performance management analytics.
We want to enable People Managers at all levels with the accurate insights on placing the right talent at the right place
Aligning with the year 2020’s motto of transformation, Numly hopes that the new way of employee engagement is likely to bring a cultural transformation pivoted around data and analytics. Moreover, the role of the manager will see a shift where they would be empowered to help their team grow based on Skill-level and Engagement Analytics, and not just based only on top-down cascaded Goals and OKR’s. An employee’s performance will be measured by a host of coaches and not just one manager’s evaluation.
Privacy of employee’s ratings by various coaches is taken care of by Numly. None of the interactions between the coach and Jedi are shared with respective managers or HR managers, unless the employee is willing to disclose it. NumlyEngage’s AI-enabled, Coaching/Engagement programs are designed to enable coaching interactions to take place alongside regular work processes, without adding to the on-hand assignments.
“AI is no panacea to addressing employee engagement challenges, but it can help managers lead their teams better. AI completes the human touch, and everybody wins in this process. HR teams can adopt AI to identify and retain top talent, grow the next generation of leaders, drive productivity and effectively compete in the future of work.We want to create very strongly connected networks of people within companies, where they leverage their skills and coach each other to help them get to a better place,” says Govindaraju.
Numly™ Raises Seed Round Investment with Waarde Capital to Drive Innovation for Work-From-Home (WFH) / Remote Teams
Monday, January 25, 2021
Numly™ Raises Seed Round Investment with Waarde Capital to Drive HR 3.0 Innovation and Growth for its AI-enabled NumlyEngage™ Enterprise SaaS Platform.
CUPERTINO, CALIFORNIA, USA - Numly™, a leader in AI-enabled, Peer Coaching, Employee Engagement and Talent Performance, announces that it has raised its Seed Round of funding, partnering with Waarde Capital (www.waardecapital.com) , a multi stage venture capital firm, based in London (UK).
Founded in 2019, Numly measurably improves employee engagement and employee performance through People Connections, Peer Coaching and Critical Skills development. NumlyEngage™ is an AI-enhanced, people networking and coaching platform, that improves employee performance and employee engagement, through a structured approach to hard and soft skills development, especially in the post COVID-19 era of Working-From-Home (WFH). Numly's Next-Gen platform brings together the art and science of Employee Engagement, Skills Development and Knowledge Sharing by promoting long term trust and nurturing an inclusive, supportive and helpful coaching culture, driven by people and enabled by AI. NumlyEngage has been designed by Numly's founding team with decades of HR Executive and software development experience at companies such as Microsoft, VMware, TriNet HR Group, Saba Software, SumTotal Systems, SkillSurvey, SAP AG / Business Objects, Spigit, CipherCloud, Adobe and Oracle / Hyperion.
Numly has created the first HR 3.0 ready SaaS platform that delivers a structured approach to developing a coaching culture by tapping into an organization’s internal talent. It aims to help companies adopt some of the most in-demand 'initiatives with a purpose' such as D,E&I, Women Leadership, and Work-From-Home through skills development and Peer Coaching. “The idea for our solution was simple,” says Madhukar Govindaraju (Founder and CEO, Numly), “to empower employees to coach each other. We wanted to provide organizations with a simple, structured and consistent way to coach, engage and transform their workforce by tapping into the pool of talent already available within the organization. But we wanted to do it across the organizational hierarchy. We firmly believe that leadership coaching isn’t just for the top management, it’s for everyone in the organization wanting to grow and develop.”
Ays Sharaev, Managing Partner at Waarde Capital said, “The shift to WFH and hybrid work environments in lieu of the pandemic has companies working to redefine how to engage, motivate and upskill their employees. HR 3.0 predictions include companies having to invest in mass personalization and individualistic learning to get their workforce ready for the new work normal. This translates to an uncharted market size of USD 7.7B today and USD 39B in 2027, in the US alone. Numly’s solution not only facilitates these learnings but also ensures all participants are clear winners; the customer (company), its CEO, CHRO, experienced leaders, new hires and trainees, and even eLearning content suppliers. Numly creates a new way of collaboration and communication, where even Open Learning platforms such as Coursera, edX or Udemy, could be a part of the ecosystem for Numly's customers. The integration is extremely fast, and the cost of such a solution for corporations is cheaper and much more effective than that of traditional tools.”
With this new investment, Numly will leverage the funding to accelerate its go-to-market strategies and continued innovation of its AI-enabled NumlyEngage™ Enterprise SaaS Platform, which is currently adopted by several global customers.
Numly was given the Hot Vendor award for Employee Engagement, 2020 by Aragon Research.
Company
Numly
Management
Madhukar Govindaraju, Founder and CEO and Shalini Ramakrishnan, Director, Product Marketing
Description
Measurably improve employee performance and employee engagement through Internal Coaching and Skills development. Build the next-generation of Diverse, Inclusive and Women Leaders in the modern, global workplace, by innovating with Machine Learning and AI, and putting privacy first
