As our workforces become increasingly international, connectivity and communication will become more valuable than ever before. Developing solutions that have a positive impact on organisations worldwide is the key to growth and that’s the segment Chemnitz-based Staffbase is betting big on.
After it brought in a big $145 million in March last year, the employee communications management solutions provider has raised $115 million (€106 million) funding to enter the unicorn club. The company has now reached a valuation of $1.1 billion.
The German startup will use the fresh capital to expand its platform, complete its full integration of all solutions with Microsoft 365 and accelerate growth. Going forward, the HR tech startup plans to invest approximately $54 million (€50 million) in 2022 to establish various initiatives, including an academy dedicated to the ongoing development of skills for internal communications professionals.
Offering enterprise customers with an employee communications platform that enables them to connect with their employees seamlessly, the platform is currently being used by over 2,000 enterprises worldwide by 13 million employees. The platform’s solutions give employees greater access to the corporate information that’s relevant to them, along with tools for the modern digital workplace, including existing intranets.
Dr. Martin Böhringer, co-founder and CEO, Staffbase, said: “Internal communications deserve purpose-built solutions. Whether employees are frontline or work behind a desk, the last two years have shown that clear and authentic communication that reaches all employees across an organisation has become mission-critical.”
Achim Berg, operating partner, General Atlantic, said: “Staffbase’s significant growth demonstrates the global resonance of its mission to enable deeper engagement between enterprises and their employees.”
The company is currently transforming employee communications at Adidas, Audi, Paulaner, Spark Power, UC Health, US LBM, and Vestas.