HR start-up Culture Amp has raised US$82 million in a Series E round of funding, led by Sequoia Capital China.
Existing investors Sapphire Ventures, Felicis Ventures, Index Ventures, Blackbird Ventures, Hostplus, Skip Capital and Grok Ventures. New investors Global Founders Capital and TDM Growth Partners also supported the round.
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The financing, which brings the total funds raised by the company to over US$158 million, will be used to accelerate Culture Amp’s product development and global expansion.
The Australian technology company was founded in Melbourne 2011 as an early pioneer in generating real-time employee feedback, powered by the insights of behavioural science and data analytics. It has since added performance management and predictive capabilities that provide leadership teams with actionable engagement, retention and productivity metrics and trends.
Steven Ji, Partner of Sequoia Capital China said, “Sequoia Capital China’s substantial investment in this stage of Culture Amp’s growth underscores our confidence that they have the vision and the leadership team in place to help companies take action on complex workplace issues. Culture Amp has carved out a dominant niche in the global market.”
Culture Amp currently serves more than 2,500 global customers including Airbnb, Go Cardless, McDonald’s, Mercy Health, Salesforce and Slack.
“This round of funding will help us to continue to deliver on our mission of building a better world of work by getting the Culture Amp platform into the hands of more people, and more leaders, who believe that culture is the biggest lever that you have to be successful,” said Didier Elzinga, CEO and co-founder of Culture Amp.
“It also underpins the deepening sophistication of one of our core competitive differentiators – our 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 organisation.”
Series A investor Nick Crocker, General Partner, Blackbird Ventures, added, “Our mission is to supercharge Australia’s most ambitious founders. With Culture Amp, we’ve found that ambition. We are inspired by the team’s pursuit of building a culture first company at scale and consider it a privilege to work alongside them as they blossom into a company that is having a profound impact on the world of work for millions of people.”