Staffbase bags $115 million Series E funding
Image Credits: TechCrunch
Employee communications management platform Staffbase has entered the unicorn club with a $1.1 billion post-money valuation ascending its $115 million Series E funding round led by General Atlantic with participation from Insight Partners- both the backers being existing investors in the HR tech startup.
Uniting companies and their employees worldwide, the 2014 founded company is headquartered at Chemnitz, Germany, and has offices in cities including Amsterdam, Berlin, London, Montreal, Munich, New York City, and Vancouver serving 2,000 enterprises worldwide such as Adidas, Audi, DHL, Mercedes Benz, RHI Magnesita, UC Health, Vesta, Vodafone, etc., effectively covering about 13 million employees.
While describing its utility, co-founder and CEO, Martin Böhringer, said to TechCrunch, “We integrate existing apps, or we can also provide a replacement for them. One thing that makes us stand out is that we are not a point solution.”
Staffbase connects companies and employees, irrespective of whether they are desk, frontline, remote, or distributed workers, by providing a simple and user-friendly software built for constructing and sending out communications and measuring their impact. It provides an email app, tools to build and manage an intranet, and an employee app that workers can use to communicate with each other and hear announcements and other communications from management. It also gives employees greater access to the corporate information relevant to them.
“We want everyone, from Brazil to China, to know what’s happening at our headquarters in Vienna, and vice versa. Communication in a company of our size must be global and interactive. Our app allows us and our employees to make news and information available conveniently with our smartphones, anytime and anywhere,” said Katharina Skarabela, Team Lead Digital & Online, RHI Magnesita.
The company intends to invest the fresh funds to provide complete integration of all solutions with Microsoft 365 and to further accelerate growth at a time of increased market demand for managing hybrid teams following the Covid-19 pandemic.
“Staffbase’s significant growth demonstrates the global resonance of its mission to enable deeper engagement between enterprises and their employees. As the world continues to adapt to new modalities of working, and as enterprise workforces become increasingly international, connectivity and communication will become more valuable than ever before,” advocated Achim Berg, operating partner at General Atlantic.
