This marks the second deal of Palatine Impact, a £100m investment fund, dedicated to supporting companies that bring positive social and environmental impact. Investment director, James Gregson, led the deal together with Impact Fund Head Beth Houghton, who said e-days is “exactly the type of business we set out to support with our new Impact Fund.” Both will be joining the e-days board and working alongside the management team in the coming months.
According to the Chartered Institute of Personnel and Development (CIPD), around 50% of organisations in the UK are inefficient at managing the holiday and sickness leaves of employees. This translates to an estimated 131 million days to be lost every year due to sickness absences, which costs the economy an approximated £17 billion every year.
Founded in 2005, e-days offers a solution to this problem by providing a software-as-a-service (SaaS) tool that allows employers to manage and track their employees' holiday leaves and sickness absences, and provides analytics and trends so that managers can plan accordingly to improve the team's efficiency and well being across the whole organisation. Their software has already helped more than 1000 businesses in more than 80 countries all over the world.
e-days CEO, Steve Arnold, said, “the Palatine investment will help us accelerate our market penetration, whilst continuing to enhance the product offering for the benefit of our customers and their employees.”
For more information, visit e-days.