Cincinnati Tech Startup Nabs Investment From Cleveland Firm

A Cincinnati tech startup that helps companies manage data gathered from and about employees nabbed investment from Cleveland-based JumpStart Inc., a sister organization of CincyTech.

JumpStart invested in Cincinnati-based Talmetrix, a startup that has developed software that helps companies capture employee feedback and link that data to other important business metrics to improve employee engagement, retention, productivity, innovation and culture. The amount of the investment was not disclosed.

“The investment not only allows us to up our marketing and sales to acquire new customers, but it allows us to tap into JumpStart’s resources to help with our strategy and execution,” Talmetrix CEO Chris Powell told me. “It’s not just the money but connections that otherwise we’d have to go to market to buy.”

Talmetrix, which was formed as BlackBookHR in 2009, currently has about 50 customers. Powell plans to double that this year. He has been involved in the business for three years and in that time the company has grown from four employees to 14. It’s also pulling in customers from overseas.

“This little engine that could is now reaching outside the U.S.,” he said.

Talmetrix, a convergence of talent and metrics, has expanded services including tools that match up employee engagement with business outcomes. According to Gallup, 87 percent of the global workforce is disengaged and an unengaged worker costs companies $3,400 for every $10,000 in salary.

Read the full story at Cincinnati Business Courier.