Employee engagement solutions provider Limeade acquired the Seattle-based TINYpulse, a SaaS employee listening provider, in an all-cash deal of $8.8Mn that will be closed by the end of July 2021. Henry Albrecht, founder, and CEO of Limeade said that this acquisition would play a towering role in creating wholesome employee experiences. Traditionally employee wellness has focused on reducing costs for those with the most chronic conditions. At Limeade, the belief is to not only tackle those, but also to ensure a more holistic approach factoring in physical, mental, and financial wellness. While the eventual aim is to reduce healthcare costs by up to 10%, another equally modest goal is to make healthcare and wellbeing as participative as possible.
Limeade understands that people won’t participate unless they are heard. With the acquisition of TINYpulse, Limeade’s customers will be able to tell their employees, “We do listen.” Albrecht maintains that the best employee well-being approach is to listen, learn and act on employee feedback. The acquisition deal will also allow Limeade direct access to mid-market customers wanting integrated well-being and employee experience solutions. It will also lead to improvements in the overall well-being of Limeade’s enterprise customers. TINYpulse makes employee listening solutions for over 500 businesses, catering to startups as well as Fortune 500s. Limeade is already in use by millions of users in more than 100 countries to navigate daily life.
David Niu, TINYpulse Founder, and CEO are thrilled to unite with Limeade. The whole TINYpulse workforce of the US and Vietnam will be integrated with the Limeade Team. Both companies believe that their workforce will continue with their employment and look forward to hiring new and purpose-driven talent to drive plans. The acquisition itself comes at an opportune moment in history. In a world that is changing and will never go back to what it was before, companies are increasingly investing in understanding employee sentiment. The IDC’s recent market forecast substantiates this development where it was observed that 44% of the organizations worldwide and 47% in the United States are increasing their expenditure on employee experience technology.
News Source: People Matters Global