"Calculus Capital, the London-based growth investor specialising in technology, healthcare, and creative sectors, has completed the sale of its stake in Mo (Thanksbox Limited), the award-winning employee engagement and recognition platform, following its acquisition by US software group UKG. Calculus first backed Mo in 2020 through its EIS and VCT funds, alongside existing investor Mercia Ventures. The company's proprietary platform helps organisations strengthen workplace culture, reduce staff turnover, and boost engagement."
"During Calculus's investment period, Mo expanded its client base to include major corporate names such as Ocado, William Hill, Crowne Plaza, SGN, and Axol, while establishing itself as one of the UK's most innovative HR technology businesses. The exit follows Mo's acquisition by UKG, one of the world's largest human resources and workforce management technology providers. Headquartered in the United States, UKG supports more than 80,000 organisations across 150 countries, including 70 per cent of the Fortune 500."
"Its cloud-based Workforce Operating Platform integrates AI-driven insights into HR, payroll, and workforce planning systems. The deal has delivered up to a 1.8x return for Calculus investors and generated £1.53 million in cash for the Calculus VCT. The firm said the proceeds will support its annual tax-free dividend yield and represent its second profitable exit in 2025, following the sale of Rotageek earlier this year."
Calculus Capital completed the sale of its stake in Mo after the company was acquired by US software group UKG. Calculus originally invested in Mo in 2020 via EIS and VCT funds alongside Mercia Ventures. Mo's proprietary Moments platform encourages employee recognition to strengthen workplace culture, reduce turnover, and boost engagement, securing clients such as Ocado, William Hill, Crowne Plaza, SGN, and Axol. The exit produced up to a 1.8x return and generated £1.53 million in cash for the Calculus VCT, with proceeds earmarked to support the firm's annual tax-free dividend yield and its SaaS-focused strategy.
Read at Business Matters
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