Powerhouse Ventures leads $1.1M round into Bigyellowfish, an employee experience platform
The capital will be used for global sales & marketing, scaling up software and platform capabilities, and R&D to speed up innovation and enhance the company's global reach
Employee experience platform, Bigyellowfish(BYF), has secured USD 1.1 million as part of its seed funding to fuel the next level of growth and product evolution.
Powerhouse Ventures led the investment with participation from Anicut Capital (Through their Angel Fund) and Innoport. The capital will be used for global sales & marketing, scaling up software and platform capabilities, and R&D to speed up innovation and enhance the company's global reach.
Bigyellowfish currently services clients across the EU, UK, and Singapore, known to be global epicenters of safety-critical markets. Starting operations in 2019, Bigyellowfish has grown 4X since 2020. The company plans to double down and increase revenues from safety-intensive industries like maritime, aviation, oil & gas, manufacturing, and logistics and expand its operations across the US and the Middle East in the coming years.
The global Safety Tech & Engagement market opportunity is pegged at around USD 21 Billion, growing at a CAGR of 7.5 percent, and it is this market opportunity that Bigyellowfish has targeted as its Launch Addressable Market.
Soma Sundar Gollakota, Co-founder of Bigyellowfish Technologies said, "We are excited to have our investors onboard, believing in our vision and supporting us in this journey as we take the next leap towards growth." His partner and Co-founder of Bigyellowfish, Kunal Pancholi, further added, "We are doubly happy that clients have recognized the uniqueness and effectiveness of our platform to add value to their safety and behavioral risk management goals."
"We are delighted to back Soma and Kunal as they continue to help global companies digitize their employee engagement and deliver measurable business results that impact their safety, employee engagement, development & retention goals. Bigyellowfish's experience in working with some of the largest companies in the Shipping & Maritime sectors positions them well to enter other safety-critical industries where the need for superior employee experience solutions is immense," stated Kshitij Golwalkar, General Partner, Powerhouse Ventures.
"With our investment into Bigyellowfish, we will empower organizations and their leaders to engage with their employees proactively to improve and enhance well-being, engagement, and training. As part of the maritime Schulte Group, we see these essential factors closely correlated with the performance and safety of our owned and managed vessels. We congratulate Bigyellowfish on this recent fundraise and look forward to being part of their successful growth and expansion," said Haymon Sinapius, Investment Manager of Innoport, the venture capital unit of the Schulte Group.
Commenting on the fundraise Ashvin Chadha, Managing Partner, Anicut Capital said, "The employee well-being and engagement market in India primarily overlooks the sector which involves severe mental stress, isolation, and trauma arising due to the nature of the work. We have rarely encountered any company solving this issue and were quite intrigued by BYF's offering. BYF is the best team to embark on this endeavor, as the promoters have experienced firsthand the hazards of working in such highly demanding jobs. With this investment, we intend to help organizations understand the importance of putting their employees' well-being, engagement, and training at the forefront. We congratulate the team and wish them the best with their plans to take Bigyellowfish to the next level."
Bigyellowfish's SaaS platform is the preferred choice for CEOs and business leaders seeking to digitize their Employee Experience (EX). It is a novel approach to managing, securing, and protecting the human workforce in safety-critical industries leveraging Behavioural Psychology, Data Analytics (AI), and Gamification (Nudge Mechanics). Its solution module includes workplace well-being, collaboration, and re-enforced learning.
The company enables business leaders across Safety, HR, Operations & Asset Management with predictive signaling & decision support mechanisms that are valuable in decisions related to the human element at work. Bigyellowfish was founded in 2019 by Master Mariner Soma Sundar Gollakota and Entrepreneur Kunal Pancholi. The company presently counts major global maritime and shipping companies as clients.