Stage and Clear Stream Partners have acquired Worklete, a provider of injury prevention training for frontline workers. No financial terms were disclosed.
DENVER, Jan. 26, 2022 /PRNewswire/ — Stage, a majority female-led private equity fund that acquires controlling interest in early-stage companies, along with Clear Stream Partners, a Denver and New York City based equity investor, today announced the acquisition of Worklete (“the Company”), an applied technology company significantly reducing workplace injuries.
Worklete, founded in 2015, is a mobile device enabled solution that provides injury prevention training for frontline workers anytime, anywhere. The Worklete platform has proven to reduce preventable musculoskeletal (MSK) injuries up to 50% with less than five minutes per day utilization. The Company counts well-known Fortune 500 brands as clients.
Stage Fund Acquires Worklete, an AI Based Data Platform for Injury PreventionIngrid Alongi, Stage General Partner shared, “The acquisition of Worklete continues the Stage mission of working with exceptional technology driven companies that have unique standing and product fit within their markets. We are thrilled to be partnering with Ben and Sean to help Worklete fulfill its potential.”
Worklete Founder Ben Kanner added, “The partnership with Stage and Clear Stream is the next step in Worklete’s journey, they are the right partners to help us accomplish our goal of building the most effective technology platform for keeping hard-working frontline folks injury free.”
The Company’s platform reduces the quantity and severity of injuries, while increasing front-line employee engagement. Worklete has helped clients’ workforces impact the direct and indirect costs associated with injuries, including reducing the incidence of injuries by 32%, lost days (people being injured and out of work) by 18%, restricted days by 67%, and direct injury costs by 43%.
Sean Kearns of Clear Stream Partners, incoming CEO, said, “The relationships and ongoing partnership we have with customers is unrivaled in this industry and I’m excited to build on what Ben and his team have started. To join a company that has proven it can reduce injuries while creating better and more engaging workplaces for our customers’ employees speaks to not only our high level of current impact, but also future importance as the front-line workforce becomes even more mission critical.”
About Stage Fund
Stage Fund, founded in 2009, is a majority female-led private equity fund focused on acquiring controlling interest in companies undergoing a change in capital structure, strategy, operations, or growth. Stage offers early-stage, small and medium-sized enterprises both the capital and management expertise to rethink their approach to growth. Visit www.stagefund.com for additional information.
About Clear Stream Partners
Clear Stream Partners is a Denver and New York City based equity investor pairing operational expertise with an ability to raise and deploy capital to strategically help entrepreneurs build extraordinary companies. Visit www.clearstreampartners.com to learn more.