Staffbase, which supplies an intranet-style internal interactions platform for companies, has raised a $145 million (EUR122 million) financing round led by General Atlantic, a growth equity firm. Existing financiers Insight Partners and e.ventures likewise participated in the round.
Begun in Chemnitz, Germany in 2014, Staffbase has actually managed to onboard more than 1,000 clients, consisting of Adidas, Audi, BHP, Deutsche Post DHL, Groupon, Hitachi, Ikea, Johns Hopkins University, McKesson, Paulaner, Suncor, Viessmann and Volvo, among others.
In early March this year, the company combined with Bananatag, the Canadian service provider of internal communications solutions.
The COVID-19 pandemic has of course accelerated the adoption of digital tools for companies, so Staffbase is reaping the benefits of that shift. The company’s primary competitors include Dynamic Signal (raised $114.8 million) and Social Chorus (raised $47 million). In the classification of intranets, rivals consist of Simpplr (raised $29.1 million) and Unily (raised $68 million).
Staffbase declares its benefits are that it combines mobile worker apps and intranets into one platform, as well as incorporating with the Microsoft 365 community, as well as the messaging platform Slack.
Dr. Martin Böhringer, co-founder and CEO of Staffbase, said in a statement: “We offer managers and communications specialists at enterprise companies with the leading digital platform for successful staff member interactions– a platform that we are broadening really rapidly. The partnership with General Atlantic will even more assist us achieve this and accelerate our development, specifically in North America.”
Dr. Christian Figge, managing director at General Atlantic, stated: “Staffbase has and is a worldwide leader established software application that specifically deals with the employee experience, supporting business in transforming internal interactions and engagement … Staffbase is a prime example of the quality of entrepreneurship and variety of ingenious business with worldwide ambitions emerging out of Germany.”
Staffbase has a labor force of 450 workers throughout 11 places, including offices in London, New York City, Vancouver, Amsterdam and Berlin.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.