Yomp raises $315,000 seed funding to encourage exercise in the workplace
Startups 100-listed software company plans to use angel investment to fund product development and international growth
Yomp, a Startups 100-listed platform designed to boost employee health and wellbeing, has secured $315,000 in a seed round led by London-based angel investors.
Previously named PleaseCycle, Yomp aims to encourage physical activity in the workforce via its mobile app which allows workers to log trips, track statistics, form teams, set goals and earn points as a reward which can be used to get online discounts, win prizes of give a donation to charity.
Founded by 26 year old entrepreneur Ry Morgan in, the start-up claims to help companies increase productivity, reduce absenteeism, and employee engagement, and works with leading firms such as Bloomberg and EDF Energy.
It intends to use the seed capital to “enhance” its product offering, recruit new staff members, and expand its international operations.
Yomp CEO, Morgan, commented:“We’ve built everything to-date on a shoestring and retained proﬁts, but we’re now at a stage where an inﬂux of capital will help drive the business forward at an accelerated pace. Health and wellbeing is a huge growth area within the employee beneﬁts space, so the raise gives us great momentum moving in to 2015.
Discussing the group of angel backers, he added:
“All the investors are “value-add” – from exited-entrepreneurs, to savvy commercials, through expansive networks – so I’m really excited about what we can deliver with them on board.”