On episode #27, MinnoTank features Encast Culture: Reimagined.
Before we head into the juicy details of how MinnoTank got connected with Brian Acton the co-founder of WhatsApp and why Encast chose to pitch on MinnoTank, let's first note the opportunity and situation in this industry.
Culture: A nextgen company problem. Whether it's Google moving away from their 20% freedom to work on whatever you want culture, to Facebook's lack of diversity in gender and race at the workplace to systemic issues at Wellsfargo that turned to misrepresentation of facts and a billion dollar fine, culture is a large part of the workplace.
But culture isn't an easy thing to create, and it's a more difficult thing to change over time. That's why you have technology companies like Encast who are finding innovative ways to change the conversation around culture and find key data points to help leaders of companies measure and enhance culture over time.
As a business model
Encast is in good company with some very large players. As Leo Ramirez mentioned in his MinnoTank interview (Click here to jump to MinnoTank.com/encast) that Encast plans to partner with PEO companies as well as other employee service providers. This makes a lot of sense when you look at the marketplace of ADP managing payroll, WorkDay & Oracle managing individual employee ERP and general management and Salesforce leading the way on CRM management.
All these businesses are on a seat based model. That means that Encast wins in two ways when they sell their services. First, they achieve an employee count based income and second as the company expands they generate more revenue over time.
As outlined in his pitch, Leo Ramirez (CEO & Founder of Encast) discusses his interest in the space that sprouted with his work in nonprofits. He saw that workplace culture was an extremely painful issue (multi-billion a year spent on attrition) and his goal was to help find a common ground between employees and their employers to better understand the interests and the inherent culture of their staff.
Philanthropy is Leo's solution.
People expect more out of companies these days than just making a profit, and employees of those companies have even higher expectations. Therefore when companies utilize Encast to give their employees a portal to participate in philanthropic activities whether it be giving or volunteering, the company its self is delivered data and analytics on what the employee has a true passion for, and can form-fit its culture around the sum of it's parts.
Encast's secret sauce
Encast will be successful when they can sell their solution to companies ranging beyond 5,000+ employees. Luckily, Leo has an in, to some of the most powerful technology companies in the USA; his lead investor Brian Acton the co-founder of Whatsapp which sold for more than 22 Billion dollars in 2014.
Sometimes it's not what you know, it's who you know.
Therefore having a lead investor who was part of the pair that sold one of the largest exits in technology startup history, delivers Leo a massive edge on the market. Whether it's warm introductions or casual lunch with the head of HR at major tech firms like Apple, Facebook and Google; these connections are not out of reach for Leo with a lead investor like Brian Acton.
Interested in investing?
This round won't stay open long. Click here to check the pitch at MinnoTank.com/encast but the opportunity won't last very long. Leo Ramirez, with lead investor Brian Acton, is poised to grow his business to a philanthropic superpower in the next few years.
Join their journey.