Bengaluru, Wednesday, 6th September 2023: San Francisco and Bengaluru based startup Atomicwork today announced its seed round of $11 million, led by Blume Ventures and Matrix Partners India. The round also had participation from Storm Ventures, Neon Fund, and prominent angel investors from Silicon Valley and India.
Atomicwork is an employee success solution that brings your employees, IT systems and HR operations together to drive business impact across your organization. “Employees are still far away from being considered internal customers by service teams because of arbitrary boundaries between the back office and the rest of the company. Businesses implement too many point solutions and complex processes, leading to productivity loss and unnecessary friction. Our goal with Atomicwork is to offer a solution to streamline internal operations through great employee experience and good efficiency,” says Vijay Rayapati, CEO and co-founder.
This is a critical item on CEO and CIO checklists. Atomicwork is leveraging AI to solve this problem while simplifying the number of tools employees interact with daily. Atomicwork sits on top of collaboration tools like Slack and Microsoft Teams, and uses conversational intelligence to automate support, service delivery, and operations at scale.
Atom, Atomicwork's AI assistant, learns from internal documentation and conversations to assist employees with their questions and requests without human intervention. The platform features the ability to have different service teams like IT, HR, Finance, and Legal work in their own private spaces while providing a unified experience for employees, and cost efficiency for the enterprise.
Before building their solution, the Atomicwork team spent time with leaders from many mid-market businesses and large corporations. They found that 8/10 leaders were unsatisfied with the experience they offered, and admitted that it adversely impacted their employees’ morale and productivity. Their findings correlated with industry studies like the one conducted by WTW in 2022, which says that 92% of employers across industries intend to invest in their EX stack over the next three years.
“With Atomicwork, we're looking to help companies go from employee support to employee success. We believe every employee can drive growth and impact the business's bottom line. By helping them move faster and accelerating productivity, we can help deliver a culture of employee success aligned with business outcomes,” added Vijay.
Atomicwork was founded in September 2022 by Vijay Rayapati, Kiran Darisi, and Parsuram Vijayasankar. Vijay is a SaaS veteran whose startup Minjar was acquired in 2018 by Nutanix, where he served as VP and GM before leaving to start Atomicwork. Kiran and Parsuram were both part of the founding team of Freshworks, and were instrumental in its rise from startup to public company in just over a decade.
The startup will be investing in product development, engineering, and marketing activities in the coming months.
Sanjay Nath, Partner, Blume Ventures, "Our decision to back Atomicwork was driven by our belief in how Vijay, Kiran, and Parsuram are re-imagining the idea of employee success. Blume's relationship with this special group of entrepreneurs began many years ago, thanks to a prior fund. We're very excited to invest in this transformative space and support Atomicwork as they reshape the future of employee experience and success.”
Pranay Desai, Principal, Matrix Partners India, echoed this sentiment, “The problem of employee support and experience has been crying out for innovation, and the way that Vijay and his team at Atomicwork are approaching the solution, with a completely modern and user-led approach, is thrilling for us. Add to this the fact that this is an experienced team that understands well how to build world-class products; we are delighted to be part of this journey.”
Arun Penmetsa, Partner, Storm Ventures, said, “The proliferation of HR and IT solutions in the last 20 years has led to a huge number of tools for employees to interact with, resulting in delays and loss of productivity. Atomicwork provides a single self-service platform for a hybrid workforce that addresses this pain and dramatically improves the employee experience.”
Atomicwork is an employee success solution that enables enterprises to deliver fast and scalable employee support workflows. Harnessing AI, Atomicwork seamlessly integrates your employees, processes, and systems for unparalleled efficiency in support, service, and operations. From its San Francisco roots to its offices in Singapore, Bangalore, and Chennai, Atomicwork is committed to fostering a world where work is meaningful and employees are empowered to succeed.
About Matrix Partners India:
Founded in 2006, Matrix Partners India invests in companies targeting the Indian consumer and enterprise market, and has invested in several category-leading companies such as Dailyhunt (Local language platform), Five Star Business Finance (SME Lending), OfBusiness (B2B commerce, fintech), Ola (Mobility), Ola Electric (Electric Vehicles), OneCard (Mobile-first credit card), Oxyzo (Tech-enabled smart financing), Razorpay (Payments), Captain Fresh (B2B seafood marketplace), Country Delight (D2C dairy & fresh foods brand), GoKwik (E-commerce enablement platform), Jupiter (Neobank), MoEngage (Customer engagement platform), Mswipe (Mobile POS), Stanza Living (Tech-enabled student housing platform) and Zupee (Skill-based gaming) among others. Matrix Partners India has advisory offices in Bangalore, Delhi and Mumbai. Further information is available at www.matrixpartners.in. To know more about our investment philosophy & ideologies, check out the #MatrixMoments podcast series.