ThanksBox (t/a Mo) secures £3 million Series A investment led by Calculus Capital

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‘Mo’ attracts £3m new investment to help people build a more meaningful relationship with work.

  • Mo enables individuals, teams and organisations to capture, celebrate and elevate moments at work by becoming the destination for people to share and engage in what is meaningful to them at work.
  • Mo believes meaningful moments have the power to connect people, improve employee engagement and create a culture that improves business performance.

27 October 2020, London: Calculus Capital, a leading EIS and VCT institutional investor, led the £3.0m new investment round with the continued support of the Northern VCTs managed by Mercia Fund Management, which first invested in Mo in 2018.

The London based company provides a SaaS (software as a service) platform to help organisations improve their culture, connect their people and improve employee engagement. Mo’s core product, ‘Moments’, captures moments of appreciation, recognition, inspiration, success, connection and more. The platform provides the means to distribute monetary and non-monetary rewards, nominate employees for awards and collect and vote on ideas to improve the company.

The product suite also offers detailed analysis of engagement levels, relationships trends and behaviours supporting corporate values, thus enabling human resources and operational management teams to drive positive change.  

Mo believes the modern day worker wants more from their place of work – they want to be valued for their contribution, connect with people that can enhance their career and be a part of a culture that breeds success. Mo has developed a deep understanding of what matters to the people at work and focusses its efforts on building value in organisations from the bottom up. 

The company, co-founded four years ago by CEO, Luke Fisher and CTO, Merlin Mason, together with an exceptional management team with experience at brands such as Tandem Bank, Yuno Juno and Carwow, have built a differentiated product and a standout brand in an aged market of employee reward and recognition. The product is used in more than 45 countries around the world and with well-known organisations such as SHL, the O2 and William Hill.

CEO of Mo, Luke Fisher says: 

“We are delighted to complete a further funding round with investors who share our vision. It provides a really meaningful opportunity to capitalise on the growth opportunities emerging as the world of work continues to see accelerated change.”

Daniela Tsoneva, Assistant Investment Director at Calculus Capital says:

“Now more than ever, with the requirement for increased home working, it is important employees feel engaged and motivated. Luke impressed us from our first meeting.  We are delighted to invest in such a talented team with such a strong product.”

Jason Warren, Investment Director at Mercia says: 

“Building and maintaining a strong culture is crucial to an organisation’s long-term success, especially as teams become increasingly distributed. The team at Mo has used their passion and expertise to develop a great product that can help tackle a pressing issue for companies at the moment. We are excited to continue our support.”

(Ends)

Editor’s Notes:
For more information, please contact:
Francesca Rayneau – Assistant Director, Calculus Capital
About Mo
Find out more at www.mo.work

About Calculus

Calculus is a multi-award-winning fund manager. It launched the UK’s first approved EIS fund in 1999 and has a 20-year track record of investing in UK growth companies, supporting their growth, development, scale-up and exit. It manages the multi-sector Calculus EIS Fund and Calculus VCT, as well as the UK Content Creation EIS Fund, which was launched in association with the BFI to deliver vital equity funding to the UK’s most promising content creation companies

Calculus Capital is authorised and regulated by the Financial Conduct Authority. www.calculuscapital.com

About Mercia Asset Management PLC:

Mercia is a proactive, specialist asset manager focused on supporting regional SMEs to achieve their growth aspirations. Mercia provides capital across its four asset classes of balance sheet, venture, private equity, and debt capital: The Group’s ‘Complete Connected Capital’. The Group initially nurtures businesses via its third-party funds under management, then over time Mercia can provide further funding to the most promising companies, by deploying direct investment follow-on capital from its own balance sheet.

The Group has a strong UK footprint through its regional offices, 19 university partnerships and extensive personal networks, providing it with access to high-quality deal flow. Mercia currently has c.£800million of assets under management and, since its IPO in December 2014, has invested over £96million into its direct investment portfolio.

Mercia Asset Management PLC is quoted on AIM with the EPIC “MERC”.

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Safiya Marzook

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