ARLINGTON, Va., March 17, 2017 /PRNewswire/ -- MomentSnap, the frontline employee engagement company helping enterprises like Five Guys and Applebee's motivate their hourly workforces, today announced that it has secured $2.3 million in a Seed funding round.
The new round, led by Bowery Capital and The Entrepreneurs' Fund, will enable MomentSnap to bolster its sales efforts and expand the technical capabilities of its mobile application platform.
MomentSnap operates on a simple philosophy of transparency, tethering into streams of performance data and delivering individualized performance updates directly to hourly workers' devices on a per-shift basis. Proprietary game mechanics have driven an average adoption rate of over 80% on an optional platform, sustained over 90% of shifts. The result is a boost in critical metrics like sales and guest satisfaction.
The MomentSnap platform also includes a top-to-bottom communications channel, allowing enterprise-wide messaging and recognition from the C-suite all the way down to the cashier.
"The ability to reach our store level employees directly and in a fun and easy way was instantly appealing to us," said Steven Steele, Director and Crew Champion at Five Guys. "Instead of information being posted in the back of the house on an already crowded board, we will be able to give real, actionable information to our crews instantly. We are excited to add on more stores."
The funding round announcement comes as MomentSnap has signed a wave of new partners, including Applebee's, Marcus Hotels and Patxi's Pizza, the rapidly-growing casual dining chain sweeping across the west coast.
MomentSnap was started in mid-2016 by Ashish Gambhir and Kam Desai, who together previously co-founded newBrand Analytics, a social media listening company acquired by Sprinklr.
"MomentSnap has capitalized on a glaring hole in the $500 billion employee engagement market. Hourly employees make up well over half of America's workforce, yet 95% of them have no mode of communication with corporate strategy-makers, or any clear conception of how to improve their performance," said Mike Brown, partner at Bowery Capital. "Kam and Ashish are experts in this sphere from their time at the helm of newBrand. The impressive client list MomentSnap has accrued over the past sixth months is a testament to both their savvy and this platform's great potential."