On the heels of a new investment, Irish-born software company Workhuman, a performance management platform, has reached a valuation of $1.2 billion. The Irish Times reports this is the second Irish company to achieve unicorn status, after Intercom in 2018. London-based alternative asset manager Intermediate Capital Group (ICG) acquired a minority stake in the company from existing shareholders, with Morgan Stanley acting as Workhuman’s exclusive financial advisor.
“We are excited to welcome ICG as a strategic investor, while providing liquidity to some of Workhuman’s earliest supporters,” said Eric Mosley, Workhuman co-founder and CEO. “Our continued double-digit growth and ongoing business momentum is a sign that organisations are craving a way to build better relationships and foster trust with their employees, no matter where they are.” Currently headquartered in the US, the company provides employee engagement (rewards and incentives, ‘voice of employee’ features) and inter-team social networking software to big organisations such as Cisco, GE, LinkedIn, Procter & Gamble, Symantec and KPMG. In a press release, Workhuman says the platform is used by over 5 million employees across 160 countries.
Along with the new unicorn status, the company announced a few new leadership roles: Chris DeMeo, formerly of Staples, takes the role of VP of customer marketing; Dr. Patti Fletcher, who comes from SAP SuccessFactors, joins as VP of brand marketing; and Jason Griggs, previously at Workday, will be SVP of global sales.
Photo: Workhuman CEO and co-founder Eric Mosley