- SaaS platform KOOS allows companies to develop with their group, turning stakeholders into co-owners
- KOOS presents corporations a fairer, extra rewarding possibility than typical referral and loyalty programmes, and could be built-in and automatic utilizing KOOS’ standardised API
- Based by Taavi Kotka and launched in Estonia this yr it has raised $4M in Seed funding led by Plural Platform with participation from LocalGlobe, Tiny.vc and Matt Clifford. Plural’s funding comes with advisory assist from Estonian founders and Plural Platform’s companions – Taavet Hinrikus and Sten Tamkivi – who will be part of KOOS as advisors
- Funds will see KOOS launch the platform within the UK and throughout Europe as extra corporations search to raise the position of stakeholders to drive enterprise development.
TALLINN, ESTONIA, 29 September 2022: KOOS, an Estonian-based begin up, has right this moment introduced $4M price of seed funding led by excessive profile buyers at Plural Platform with participation from buyers together with LocalGlobe, Tiny.vc and Matt Clifford.
KOOS was launched in Estonia following an angel pre-seed spherical of $600,000 from an array of the excessive profile Estonian founders. Following Plural’s $4m funding, KOOS now plans to launch and construct its presence within the UK and throughout Europe.
KOOS, which suggests ‘collectively’ and ‘alongside’ in Estonian, was based earlier this yr by serial entrepreneur and former CIO of Estonia Taavi Kotka. Created to serve organisations who’re dedicated to giving a real stake to their contributors, the KOOS stakeholder incentivisation platform supplies a model new manner of rewarding and motivating everybody who contributes to an organization’s development and success.
By leveraging KOOS’ equity-like development programmes with out making a gift of a single share, an organization offers their group a motive to advocate for them with fairer rewards, that are paid out solely when the corporate meets the predefined enterprise aim. This makes KOOS programmes ROI-positive by design for the corporate operating them and drives the stakeholder economic system by rewarding equitably those that contributed to the company success.
Kotka, who led the Estonian authorities’s world main insurance policies round digital democracy and e-government for 4 years, defined: “At KOOS we consider applied sciences can be utilized to assist construct a extra equitable society. To achieve success you could ship nice worth to all of your stakeholders and we have now provide you with a digital device that permits companies to have interaction and reward their group, widening the circle of people that have entry to equity-like incentives which in flip will increase the pool of people that will advocate for the enterprise and need it to succeed. We provide corporations a brand new manner of attaining their enterprise objectives extra effectively, whereas concurrently enhancing their monetary and social impression efficiency.”
Plural’s funding additionally comes with the assist of founders-turned-investors Taavet Hinrikus, former CEO of Clever (previously TransferWise) and Sten Tamkivi, co-founder of Teleport, each of which can tackle energetic advisory roles to speed up the roll out of the KOOS platform. The buyers be part of a number of different profitable know-how founders backing KOOS, together with fellow Estonians Markus Villig, founding father of Bolt, and Kaarel Kotkas, founder and CEO of Verrif. KOOS is constructed with assist from high authorized agency Ellex in rising tech, adopting a recognised authorized framework that complies with EU and UK regulation.
Sten Tamkivi, adviser and Plural Platform co-founder, stated: “Plural needs to speculate to assist create a extra equal society. We consider that broader group possession results in extra meritocratic programs in order that wealth could be distributed based mostly on precise contributions. KOOS has provide you with a strategy to observe the assist of all stakeholders in a group or enterprise, with out having to present away fairness. We anticipate that the platform KOOS is constructing will turn into a vital constructing block of many startups, funds and communities together with charities and NGOs.”
Ziv Reichert, companion, LocalGlobe, stated: “KOOS is spearheading the democratisation of community-led development by permitting all stakeholders – customers, companions, suppliers – of a given enterprise to have the potential to earn their slice of the pie. KOOS allows companies to simply align their key aims with group incentives, turning stakeholders into shareholders. To us, this future is inevitable and the winners of the following decade will probably be these organisations that put their communities on the core of how they function and develop. With genuinely world-class expertise within the staff, we’re excited to see KOOS powering this shift.”
Since its introduction to the market simply 4 months in the past, 27 early adopter paying clients are operating 35 programmes – which embrace start-ups, NGOs, SMEs and bigger firms. KOOS’ Saas pricing mannequin contains an onboarding charge, a month-to-month retainer, and 1% of all rewards (tokens) created by the programmes on the KOOS platform.
Estonian ride-sharing company Forus Takso recently launched its business with 30% equity allocated to KOOS tokens. For any service consumed on Forus’ platform, 1% will probably be given as a KOOS token to the consumer, 1% to the service supplier and 1% to contributors.
KOOS buyer Toomas Loik, CEO of FleetGuru, stated: “Greatness isn’t constructed alone. It’s constructed by devoted gifted folks and this dedication ought to by no means go unrewarded. KOOS has created a brand new manner for corporations to construct a fairer world and acknowledge individuals who contribute to your success. We at FleetGuru are past excited for having this new possibility and can use the hell out of it.”
Notes to editors:
How KOOS works:
- Outline a enterprise aim: Define a selected aim you wish to obtain with the assistance of your group
- Make a promise for when the enterprise aim is met: Verify what share of proceeds will probably be paid to contributors to your group
- File significant actions: Give out tokens to anybody who helps you attain the enterprise aim. The extra actions, the extra tokens, the extra future worth your organization has
- Pay out: After you have reached what you are promoting aim, ship in your promise and provides again to your contributors. KOOS takes care of payouts and authorized particulars.
Go to www.koos.io for additional data