CED Tech Venture profile: Catalant, aiming to create a ‘Fitbit for work’

Catalant wants to help businesses improve employee engagement and motivation through software.

The Greensboro startup sees its solution as a “Fitbit for work.”

“Our software allows employees to set and track their own personal goals and progress at work, and then track themselves against their progress,” says CEO Jonathan Woahn. “We also have a leadership portion of the software that incorporates live performance dashboards and reports that improve real-time problem solving and decision making.”

Catalant will be presenting its technology at CED Tech Venture.

The Q&A profile of Catalant is the latest in a series about Tech Venture presenters published through a partnership between the CED and WRAL TechWire.

What is the focus of your business?

Catalant’s motto is “WE MAKE WORK MATTER!” The focus of our business is to improve employees’ engagement and motivation while at work, by providing them with improved purpose and passion. The easiest way to make a technology comparison, is we are hoping to create the Fitbit for work.

Our software allows employees to set and track their own personal goals and progress at work, and then track themselves against their progress. We also have a leadership portion of the software that incorporates live performance dashboards and reports that improve real-time problem solving and decision making.

We have focused our initial efforts in the manufacturing sector.

What is the top pain point/business application you are seeking to address?

According to a 2014 Gallup study, over 70% of US employees are disengaged at work, leading to an estimated $500B in lost productivity.

What makes it unique?

Much of the competition is focusing on automation, robotics, and improving the machines within manufacturing, but we are focusing on the most VALUABLE asset for these companies- their PEOPLE! We have created an automated system that relies on very simple inputs, from any mobile device, and creates amazingly complex outputs that can drive improvements in productivity, culture, and engagements.

We have DAY 1 insight, which means the product is super simple to install and use.

Why should investors be interested in your firm?

We have been experiencing ~20% monthly growth (both in terms of users and revenue). Our team is very lean, yet we are signing up new customers each month. Our business is SAAS (software as a service) so we have monthly recurring revenue.

We are the first to market in our space. $50B is spent annually in the US alone on operational consulting, so there is tremendous market validation. By capturing just a small percentage of our addressable US manufacturing industry, our annual revenues can exceed $50M.

Finally, although we are the first to market in our immediate space, there are numerous potential acquirers in the performance tracking space who could easily expand their offerings to the manufacturing industry.

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