MELP, a Vilnius, Lithuania-based startup specializing in digital employee well-being management, has recently announced it has secured $696,000 (€635,000) in an early seed stage round of funding from Coinvest Capital, along with business angels from Lithuania and the UK.
Co-founded by Vidmantas Šiugždinis, Robertas Šaltis, and Juozas Sargūnas, MELP offers an easy-to-use digital tool to personalize employee benefits for large and small businesses. The platform enables companies to host employee benefits and empowers employees to choose from over 6,000 goods and services available in the international e-shop as their preferred motivation.
Speaking about the company, Co-founder & CEO of MELP, Vidmantas Šiugždinis, said:
Given the global concern regarding employee retention, our platform offers companies a valuable tool to prioritize the well-being of their employees, thereby fostering increased engagement and loyalty. We anticipate a future where companies increasingly adopt personalized solutions in managing their teams, allowing individual members to choose motivations tailored to their personal and professional lives.
Šiugždinis added:
Employers need to decide what value or category of benefits they want to give their employees – their team members can choose the specific services or supplier. For corporate HR departments, our platform facilitates convenient rewards management, recognition programme creation, internal communication, and employee engagement.
MELP, which stands for Medical services, Employee benefits, Lifestyle and longevity, and Protection, is a term that highlights the broad spectrum of consumer services that the platform offers. More than 16.000 employees currently use it, and it holds ISO 27001 certification for information security.
Commenting on the fundraising, Viktorija Trimble, Managing Director, Coinvest Capital, said:
I believe the founders’ extensive business experience, navigating different markets and managing crises with large teams, is a key driver of the company’s success. Their diverse perspectives on employee motivation systems have made the MELP platform popular in Lithuania and abroad. I’m confident that the investment will boost the platform’s profile and help it grow in foreign markets.
Since its launch in early 2022, MELP has grown successfully in the Baltic nations. and is now prepared to enter foreign markets.
