News: Employee engagement platform Culture Amp raises US$100mn in Series F funding

HR Technology

Employee engagement platform Culture Amp raises US$100mn in Series F funding

With the latest investment, Culture Amp is now valued at US$1.5billion. The fresh capital will be used to drive global expansion and develop its product offering.
Employee engagement platform Culture Amp raises US$100mn in Series F funding

Employee engagement platform Culture Amp announced last Friday that it has raised US$100 million in Series F funding, bringing its total valuation to $1.5 billion. The funding round was headed by TDM Growth Partners and Sequoia Capital China along with participation of other investors including Salesforce Ventures, Felicis Ventures, Blackbird Ventures, Index Ventures, Sapphire Ventures, Skip Capital, Grok Ventures and Global Founders Capital. According to the announcement, Culture Amp will use the capital raised for global expansion and to develop its product offering.

Culture Amp uses the data companies provide through employee surveys to invent and develop techniques as well as insights to change companys’ culture and policies to enhance employee performance along with changing the workplace environment. It is currently used at more than 4,000 organizations globally. Investors have cited the effectiveness of the company’s platform and data sets in driving strategy at boardroom level.

However, the employee engagement platform had reported revenue of $45.8 million and losses of $33.8 million last financial year. CEO and co-founder Didier Elzinga said that the present funding round was necessary to dodge a situation where the company might have to enter an IPO to fund its businesses. 

 

Read full story

Topics: HR Technology, #FundingAndInvestment, #HRTech

Did you find this story helpful?

Author

QUICK POLL

What are the top work tech investment focus areas for your company currently?

How are you leading your company through The Great Resignation?

READ September 2021 issue of our magazine to learn how to win the war for talent.