Worxogo, a pioneering enterprise start-up that offers a personal cognitive AI coach to employees for improved and sustainable business impact, announced Series A investment of INR 16.5 Cr by venture funds Inventus India and Ideaspring Capital. The freshly raised capital will be used primarily to scale the unique AI engine, Mia, and enter global markets.
Mia is a personal AI coach to employees and helps them improve their productivity through actionable advice using principles of neuroeconomics and behavioural science. It understands what makes employees tick by recognizing workplace behaviour preferences (intrinsic and extrinsic motivations) and their responses to nudges.
“Behavioural science is a relatively recent body of work which is at variance with classical economic thinking. That paradigm in combination with the ubiquitous mobile, always-on connectivity and machine learning enable productivity benefits in enterprises in real-time, in a personalised fashion and at considerable scale. The talented team at Worxogo is well placed to benefit from this confluence and we are pleased to partner with them on this exciting journey.” said Parag Dhol, Inventus India.
Built on proprietary Machine-learning algorithms that assess each employee’s unique behaviour preference, along with performance data, Mia sends customized nudges to employees regularly to help drive business performance. It delivers significant business impact- including at least a 25% increase in sales, higher productive employees, and reduced supply chain risk. It currently sends 1 million nudges to over 100,000 users every day across organizations and industries.
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Naganand Doraswamy, Ideaspring Capital said, “Creating a truly engaged workforce has been one of the biggest challenges faced by companies across the world. While most performance products focus on company processes, what organizations fail to recognize is the individual employee behaviour that is unique to each employee”
“Worxogo’s AI coach, Mia is a true path-breaking product that applies the power of nudge, and neuroscience to coach every employee and the organization. We are thrilled to invest and be part of Worxogo’s journey and watch it transform the performance landscape in India and other markets,” he added.
Since its launch in 2015, the company has seen significant success with over 35 customers including Titan Industries, Piramal, PwC, L&T, Sutherland and others with focused applications in sales performance, BPO agent productivity, supply chain and innovation.
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Ramesh Srinivas, CEO and co-founder, Worxogo, added, “We believe that our first-of-its-kind cognitive engine, Mia, will bring a radical shift in how performance is managed in near future. We are focused in our approach to reach every employee in an organization individually and allow Mia to coach them in a way that aligns personal growth with company objectives.”
He added, “The conceptual underpinning of our engine – behavioural science, neuroeconomics and AI, are already dominating conversations as tools of change and we are the first to establish its importance in the enterprise context. We are excited about the next step of our journey and happy to have found like-minded partners in Inventus India and Ideaspring Capital.”
Worxogo is a pioneering enterprise start-up that offers a personal AI coach to employees for an improved and sustainable business impact. In 2015, the company launched Mia, a cognitive AI engine and digital mentor that learns and predicts employee behaviour and then coaches them to achieve their maximum potential.
Mia coaches over 100,000 users every day, across over 35 organizations and 5 countries, using the principles of neuroeconomics and behaviour science. Industry leaders in Financial Services, Consulting, Manufacturing, Banking and BPO have engaged Mia to achieve their business goals.