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. Its flagship product, Moments, serves as an internal social media tool, encouraging employees to share achievements and celebrate milestones.
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.
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