LeaveLogic is raising more cash to fuel development of its parental leave management platform.
The Seattle startup confirmed with GeekWire on Wednesday that it just reeled in a $900,000 round from backers like Alliance of Angels and other angel investors.
Led by CEO and founder Anna Steffeney, LeaveLogic provides a central dashboard that helps employees manage their parental leave plans in one place. The company, which won the first place prize at the WTIA Spring First Look Forum last year, says it helps clients save time, energy, and paper associated with managing parental leave.
Parental leave has become a hot issue as companies try to leverage their benefits to lure top talent. Tech giants like Amazon, Microsoft, Netflix, and many others have recently revamped their policies to offer more paid time off for new parents.
LeaveLogic has developed an algorithm to create individualized parental leave plans that both employees and employers can agree on. Steffeney founded LeaveLogic after the birth of her children — one born in Europe, the second born in the United States. She noticed the difference in parental leave policies and wanted to utilize technology to make parental leave a normal experience in the workplace.
The CEO said that her startup saves employers 63 percent per leave by allowing employees to self-serve their leave education and planning.
“Today, this is a huge time burden on HR for every leave,” Steffeney noted.
Steffeney added that LeaveLogic differentiates from competition with “the only employee-centric solution.”
“Most leave administration solutions only address the HR pain of administration and compliance,” she said. “We help employers scale and standardize the employee leave experience.”
LeaveLogic currently employs four people. The company is gearing up to participate as a finalist in the 1776 Challenge Cup.
“It is an honor to be participating on a global stage as Seattle-based female-founded tech startup,” Steffeney noted.
The fresh cash will be used to bring on a few employees and bolster the company’s software. Total funding to date for LeaveLogic is $1.1 million.