Cloud-based HR start-up Enboarder has closed $AU11.6 million (US$8 million) in Series A financing, led by Greycroft, which also participated in the company’s previous AU$5 million funding round.
Enboarder has raised $AU17.3 million to date. New investors, Next Coast Ventures and Stage 2 Capital also participated in the round.
Founded in Sydney, Enboarder’s global headquarters are in Sydney and its US headquarters are based in Austin, Texas.
Since launching in 2015, over 200 global companies, including McDonald’s, Hugo Boss, EA Games and Qantas, have used Enboarder to deliver consistent onboarding experiences that boost employee happiness, productivity and retention.
Enboarder is planning to double the size of its team in the next 12 months, with the Series A investment going towards building out the company’s sales, marketing, customer success and product functions.
“The HR tools that most businesses rely on today were built for a world that no longer exists,” said Brent Pearson, CEO and founder of Enboarder.
“We’re living in an experience era and yet we welcome new hires with a process. Employees have all the power today and place a premium on experience. Employers need to adapt in order to thrive, and that’s what we’re focused on at Enboarder.”
Greycroft Principal, Will Szczerbiak said the team has “executed flawlessly” since the VC joined the seed round in 2018.
“We feel strongly that Enboarder will become the category leader of this emerging part of the HR tech stack,” Szczerbiak said.
“Companies that do not adopt solutions to power an exceptional employee experience will lose the war for talent. Enboarder sits right at the centre of this trend with onboarding, which in the traditional form is broken, missing a prime opportunity to make a positive impression on an employee.”