Funding will help the startup scale to meet increasing need for employee leave management in dynamic employment environment
Minneapolis, November 10, 2020 – Sofia Fund, a leading angel investment group that invests exclusively in women-led companies, has made its most recent investment in Colorado-based employee leave management company TiLT (Talent in Leave Technology). The investment is part of the startup’s recent oversubscribed Series Seed round of funding.
TiLT technology helps effectively manage employee leaves of absence. Its innovative platform improves communication between employers and their employees while simplifying the related workload for HR, managers and those on leave. It reduces risks to companies by ensuring the process is compliant with current legislation and helps remove the fear and bias associated with leaves.
The most common employee absence is family leave. Now, caregiving, mental health breaks and other illness-related leaves are on the rise, due to COVID. From impacts on employee morale and turnover, to potential costly litigation, leaves cost companies millions of dollars every year.
“Sofia Fund’s investment is part of this new stage of growth for TiLT. It will be used to deliver the solution to HR leaders who are already juggling the dynamics of a highly fluid workforce, due to changes caused by the pandemic,” said Jennifer Henderson, founder and CEO of TiLT, who started the company based on personal experience with her own leaves of absence from large corporations to give birth to her children. “Handling employee leaves well truly impacts lives. The TiLT team brings talent, ingenuity, and passion to this opportunity; we’re out to revolutionize workplace leaves.”
Henderson indicates the funds from its most recent round of investment will be used to expand automation and integration on the platform, and add sales and customer service resources to respond to an expanding pipeline of prospective customers.
“Our interest in TiLT was first based on its strong women-led team,” said Joy Lindsay, Sofia Fund partner. “As we learned more, we wanted to support the opportunity for all people in the workplace to have their leaves managed proactively and respectfully. Leaves from work are important milestones, especially in most women’s careers, so it’s vital to make the experience positive for all parties.”
Founded in 2017, TiLT is based in Fort Collins, Co., and is part of the 2020 Techstars Accelerator on Workforce Development, which focuses on addressing the challenges of the modern dynamic labor market through innovative technologies.
About Sofia Fund
Sofia Fund invests in and grows exceptional women-led companies to maximize returns for investors by bringing its portfolio companies successfully to profitable exits. Sofia Fund uses a rigorous process for selecting and investing in high-growth, technology-driven opportunities. Its team of professional women angel investors actively manages and supports its portfolio businesses, leveraging deep expertise and broad networks to help women entrepreneurs achieve success. Its investment team has invested more than $13 million in 70 companies to date. For more information about Sofia Fund, visit www.sofiafund.com.