Sparrow, a provider of tech solutions for employee management, has closed a $20m Series A round.
The Series A was led by WndrCo, the investment company headed by Jeffrey Katzenberg, co-founder of DreamWorks and former chairman of The Walt Disney Studios. Authentic Ventures and South Park Commons also participated in the round.
Sparrow said it enables companies to easily manage employee leave reducing compliance risks and better-supporting employee wellness.
The infusion of capital will support the acceleration of the company’s sales, marketing, and product development activities in North America. Sparrow said it is scaling its team of industry leaders and hiring for several key positions in engineering, product, operations, sales, and marketing.
Among other benefits, Sparrow helps employers reduce their risks of non-compliance, reduces programme management costs, and bolsters employee retention. Employees, meanwhile, get a stress-free and transparent process that ensures they maximise every aspect of their employee leave benefits, the company said.
Deborah Hanus, co-founder and CEO at Sparrow, said, “Critical events in an employee’s life, such as welcoming a child, caring for a loved one, bereavement, or disability, provide employers a unique opportunity to care for their people when they need it most.
“But regulatory complexity makes providing that support extremely difficult. This causes companies to inadvertently undermine one of the most impactful ways they can support employee wellness.”
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