Employee engagement software provider Eletive has received a major growth investment from global private equity firm Accel-KKR to accelerate its international expansion and product innovation.
The Swedish technology company, based in Malmö, said the partnership marked a key milestone in its growth journey and would enable it to enhance its platform, scale operations and deliver greater value to clients.
Founded by Marcus Wennmo and Nils Wilhelmsson, Eletive develops software that helps organisations measure and improve employee engagement and performance through AI-powered analytics and continuous feedback.
Partnership to drive AI innovation
Eletive’s co-founders said the firm had been seeking a strategic partner to help support its next phase of development.
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“We were looking for the right strategic partner to support our next phase of growth. Accel-KKR stood out for their cultural alignment, shared values and deep expertise in software investing and scaling businesses,” they said.
“Building on our strong foundation in analytics, Eletive is investing heavily in AI to deliver predictive insights and personalised recommendations that empower leaders to take smarter, faster actions to strengthen engagement and performance.”
Accel-KKR managing director Maurice Hernandez said the firm was impressed by Eletive’s vision and technology.
“Eletive has built a scalable technology platform that addresses a critical need in today’s workplace: empowering organisations to build stronger, more engaged teams,” he said. “We’re excited to support the Eletive team as they continue to expand their impact.”
Supporting the future of people success
Eletive’s technology is used by employers around the world to collect real-time feedback from staff, translate insights into action, and improve organisational culture and productivity.
The investment will allow the company to deepen its use of artificial intelligence to predict trends in engagement and performance and provide tailored recommendations for HR leaders.
Brodies LLP and MAQS acted as legal advisers to Accel-KKR, while Kaizen Equity Partners and Snellman Advokatbyrå advised Eletive.
