Culture Amp raised $82 million in Series E funding, bringing its total investment closed to over $158 million. The money will be used to accelerate the company’s expansion and product development efforts.
New investor Sequoia Capital China led the round. It was joined by existing investors Sapphire Ventures, Felicis Ventures, Index Ventures, Blackbird Ventures, Hostplus, Skip Capital and Grok Ventures. Global Founders Capital and TDM Growth Partners also joined as new investors.Culture Amp raised $82 million to speed its expansion and product development efforts. @CultureAmp #HR #HRTech Click To Tweet
Founded in 2011, Culture Amp was one of the early entrants into the market for real-time employee feedback. Subsequently, the company added performance management and predictive capabilities designed to aid leadership teams in their engagement, retention and productivity efforts. The company sees its mission as uncovering links between performance and engagement, then recommending actions that can improve the employee experience.
Culture Amp serves around 2,500 customers world-wide and has compiled data from more than 3 million employee. In July, the company launched Forecast Engine, a tool designed to predict employee performance and turnover risk. Foresight Engine uses personalized dashboards to deliver recommendations to decision-makers at all organizational levels.
Foresight Engine was one result of Culture Amp’s February acquisition of Zugata, a performance-management firm. At the time of its launch, the company said it would embed Foresight Engine throughout its suite of tools to help employers uncover links between engagement and performance.
The funding will also be used to expand Culture Amp’s presence within industries and regions that are, in its words, “tackling seismic changes in workplace culture head on.” These include EMEA, Latin America and Asia.
CEO Didier Elzinga said that besides helping the company “deliver on our mission of building a better world of work,” the new funding underscores its platform’s “ability not only to pinpoint what is going on, and what to do about it, but to also drive the change necessary to bridge the knowledge to action gap at all levels of the organization.” He called that “one of our core competitive differentiators.”
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Image: Culture Amp