Symmetrical, Arbolus, Oneday and Cooee Pick Up Tech Funding

A payroll solution provider, a digital knowledge-sharing platform, a new edtech platform and a customer engagement platform all get a boost.

There are healthy developments in London and Cambridge with Symmetrical, Arbolus, Oneday and Cooee snapping up tech funding.

Payroll solution provider Symmetrical (aka Symmetrical.ai) has raised $18.5 million (£15 million) in financing from venture capital funds.

Digital knowledge-sharing platform Arbolus has closed a $15 million (£12 million) Series A, led by Element Ventures alongside existing investors Fuel Ventures.

Oneday, a new edtech platform for aspiring entrepreneurs, has launched with £2.5 million seed funding.

Cooee, a customer engagement platform for mobile apps, has received £300,000 in pre-seed funding from investors including Jenson Funding Partners, as well as several angel investors from the US, India and UK.

We Can See Symmetrical

Symmetrical says the round was led by Target Global with participation from Global Founders Capital, Finch Capital, Partech, Market One Capital and Inovo.

The company offers headless payroll technology that enables automation of payroll processes through an API-first approach.

Piotr Smolen, CEO and Co-Founder of Symmetrical, states: “Our bold ambition is to make payroll invisible. We believe that ten years from now, ‘payroll software’ will be eliminated from the dictionaries.”

The tech firm was founded in 2019 in Warsaw and has multiplied revenues by 23x in the last nine months. It has 47 customers across the UK, Spain and Poland. Symmetrical lists London as its HQ on its LinkedIn page.

The investment follows Symmetrical’s seed investment round which was led by Global Founders Capital in the summer of 2020. The Series A funding will be used for expansion into new markets in Europe and the US, recruitment and for its single layer API technology.

Arbolus in the Know 

Based on its logo – and its name (‘arbolo’ is the Spanish word for ‘tree’) – Arbolus is all about profiting from the tree of human knowledge.

The London-headquartered firm provides a platform that “opens up offline human knowledge” using machine learning (ML) and natural language processing capabilities. Its technology helps clients source industry professionals, and enables methods of gathering information and data points.

The investment is supported by Silicon Valley Bank who will be providing a debt facility alongside the equity.

It’s been a good time for Arbolus of late – it’s seen revenue triple in the last year, doubled the team size to 100, and expanded its operations into the US, Spain and India. The new capital will be used to develop further products.

Happy Days for Oneday

Oneday is based in London and wants to help entrepreneurs “turn their passion into a business through expert-led coaching, community & content”.

It works by providing wannabes with ready-to-launch ideas and matching them with successful CEOs as mentors, a community of fellow founders, and the content and tools they need to launch and fund their business. It was co-founded by Ranbir Arora and Taras Polischuk, both formerly from Sweatcoin, a health & fitness fintech app, and now are CEO and COO respectively for Oneday.

The funding round was co-led by BrightEye VC and Outward VC. The round also saw participation from Flint Capital, and angel investors including Joshua Wohle, CEO at Mindstone and Co-Founder of SuperAwesome.

The investment will be used to expand the team and for product innovation. Oneday has 23 employees listed on LinkedIn. Previously, Oneday secured £750,000 in pre-seed funding.

Cooee Looking Cool 

Cambridge-based Cooee provides an AI platform that “helps mobile apps boost customer retention with personalised engagement”.

The tech company cites research from app analytics firm App Annie, which reveals that a “record” 3.8 trillion hours were spent on apps last year. Today, there are more than five million apps available on app stores.

Cooee is looking to profit from all this and offers one-to-one personalised in-app and push notifications to try and help businesses increase revenue and reduce churn. It uses augmented reality (AR), computer vision and ML to create “unique engagements” for every customer in real-time.

Cooee is a low-code platform so companies can embed the service within their app. The tech firm intends to use the funding for product development and launch an AR version of the product.

Antony Peyton
Antony Peyton
Antony Peyton is the Editor of eWeek UK. He has 18 years' journalism and writing experience. His career has taken him to China, Japan and the UK - covering tech, fintech and business. Follow on Twitter @TonyFintech.
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