The new round sees Workvivo’s valuation more than triple.
The company has year-on-year growth over 150% in the $300 billion employee experience market.
Workvivo has more than 300 customers in 90 countries across the globe.
BOSTON & CORK, Ireland, July 07, 2022--(BUSINESS WIRE)--Workvivo, the employee experience app designed to emotionally connect and engage employees everywhere, today announces $22 million in new funding led by Tiger Global. The new funding more than triples the value of the employee communications company.
Workvivo, founded by John Goulding and Joe Lennon, previously raised $16 million from Tiger Global, Frontline Ventures and Enterprise Ireland bringing their total funding to date to $38 million. The news comes after the company experienced over 150% year-on-year growth for the past 3 years.
The new funding will be used to fuel the next stages of the product journey, building innovative features designed to bring company culture to life and humanize the digital workplace experience. In the last year, the company has opened new offices in Boston, London and Dublin and the team has grown sixfold since 2020, with headcount reaching 123.
Since the pandemic, the number-one challenge for organizations has been to meaningfully engage and connect staff. Workvivo research previously found that 60% of employees plan to leave their jobs and a staggering 98% of HR professionals have experienced burnout in the last six months. With looming economic challenges, companies are prioritizing retaining their best talent. Workvivo has helped hundreds of companies, including Fortune 500s to unite and connect their staff and drastically improve employee engagement and satisfaction.
Speaking on the announcement, John Goulding, CEO and co-founder of Workvivo said:
"Over the past three years, we have been blown away by the tremendous growth we’ve seen, but mostly by the huge impact the platform has made for our customers. We’re working with some of the world’s largest organizations to help them foster world-class workplace cultures. We’re thrilled to announce this new round of funding which will help fuel the next step in our journey.
The employee experience is crucial for leaders to prioritize as employees are more burned out and disconnected from their company’s culture than ever. People spend a huge amount of their hours each week at work, and they deserve it to be meaningful and to feel a sense of belonging and purpose. CEOs that adapt to the new working world and change the way they engage their employees will create new and better opportunities for their company and retain their best talent in this period of the Great Resignation."
Replicating a familiar social experience, Workvivo offers a centralized communications hub, where employees can share, post, comment and even podcast or live stream. The platform also provides access to all the workplace tools they need – with strong integrations to Zoom, Slack, Microsoft Teams, Google Workspace and hundreds of HR, CRM and productivity tools. Customers include Amazon, Bupa, TELUS International and Clipper Logistics.
Workvivo is a new breed of employee communication platform designed to help companies reach, engage and truly connect to their employees in ways that traditional tools can’t. It’s your intranet, internal comms tool, employee app, all merged into one familiar social experience at the very heart of your digital workplace. Workvivo has seen an annual growth of over 150% year-on-year, and has added 300 customer organizations from 100 to 100,000 employees in over 90 countries. Customers include Fortune 500 companies across industries from healthcare and retail to hospitality and manufacturing, Workvivo is on a mission: to elevate everyone’s workplace experience.
To date, Workvivo has received backing from Tiger Global, Zoom founder Eric Yuan and Frontline Ventures. Workvivo regularly tops software review sites, including Gartner Digital, with a #1 spot on G2 for internal communications, intranet and engagement tool categories.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220706005876/en/
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