A provider of flexible software solutions for HR, benefits, and payroll, this week announced the acquisition of WFHomie, an employee experience and people analytics platform built for remote-first companies.
It is the first acquisition for Houston-based GoCo.io, which raised USD $15 million last year in a round led by ATX Venture Partners.
With the addition of WFHomie’s product portfolio and domain expertise, GoCo “unlocks immediate cross-selling synergies and accelerates its product innovation in the space, helping their customers automate HR workflows that are efficient, intuitive, and loved by HR teams as well as employees,” according to a statement from the company.
WFHomie was founded in Toronto in 2020. The following year, Vancouver’s LOI Ventures made its first investment: a US$1.5 million seed round in WFHomie.
“WFHomie was the perfect opportunity to be the first recipient of funding from our new LOI Venture fund,” stated Hootsuite cofounder Ryan Holmes in 2021. “They encapsulate everything our fund sets out to be, providing more capital and greater mentorship to young Canadian entrepreneurs.”
According to Holmes, WFHomie is bridging the gap of hybrid work “and has a deep understanding of what’s needed to build those meaningful relationships.”
Pavla Bobosikova, who cofounded WFHomie alongside Reza Farahani, agrees—and believes GoCo aligns with the startup’s mission.
“The leadership team at GoCo are dedicated to building a future where HR and People Ops leaders have the bandwidth to support their employees effectively and create thriving, high-performing workplaces,” said Bobosikova. “We share the same vision: to improve work-life for employees, while empowering organizations to operate more effectively.”
GoCo’s employee management platform is built with flexibility in mind, to help SMBs eliminate manual HR tasks, and empower them to prioritize strategic HR initiatives. GoCo says it is eager to expand its robust suite of employee management solutions with “more products and services aimed at enhancing employee experience and providing valuable people analytics for measuring engagement.”
“It’s clear that the leadership of WFHomie share our vision, passion, and excitement for creating innovative products that help companies build better workplaces,” said Nir Leibovich, CEO of GoCo. “We’re confident that the WFHomie team will bring the expertise and agility we need to ship new products and expand our service offerings in line with that vision.”
As part of the transaction, the WFHomie team will join GoCo. Their focus will be to “accelerate the next generation of innovative products for more engaging and data-driven workplaces.”
LOI Ventures is a BC-based VC firm contributing to Canada’s startup success.