Employee well-being is becoming increasingly important in today’s competitive work environment. To help companies prioritize their employees’ well-being, MELP, a Vilnius, Lithuania-based startup, has developed a digital employee well-being management platform. Recently, the startup has raised $696,000 (€635,000) in an early seed stage round of funding from Coinvest Capital, as well as business angels from Lithuania and the UK.
MELP, which stands for Medical services, Employee benefits, Lifestyle and longevity, and Protection, is an easy-to-use platform that allows 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. The platform also facilitates convenient rewards management, recognition programme creation, internal communication, and employee engagement.
Co-founder & CEO of MELP, Vidmantas Šiugždinis, commented on the platform: “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.”
Managing Director of Coinvest Capital, Viktorija Trimble, 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 seen successful growth in the Baltic nations and is now ready to enter foreign markets. With the help of this digital platform, teachers can now offer their students a variety of rewards and manage their recognition programmes more efficiently. This not only helps foster employee engagement and loyalty, but also encourages them to reach their full potential.
