So-called ’employee engagement software’ is a big business, estimated to be in the region of a $1bn market. Service collect and analyses employee feedback from web and mobile apps used by employees, then use that data to figure out what motivates employees, what problems they have, and how those problems might be fixed.
That’s exactly what Peakon, which describes itself as a “people analytics company”. The London and Copenhagen based company has now completed a Series B funding round of $22M. The round was led by Balderton Capital with participation from Peakon’s existing investors the EQT Ventures fund, IDInvest Partners, and Sunstone Capital. The round brings the total raised by the company to $33m.
Since launching in early 2016, Peakon has hoovered up clients such as Capgemini, BMW, and Maersk. Founded by Phil Chambers, Kasper Hulthin, Dan Rogers and Christian Holm in January 2015 – it now operates globally, from offices in the UK, Denmark, US, Germany, and New Zealand – and expects to double its headcount over the next 12 months to more than 180 people.
Phil Chambers, co-founder and CEO of Peakon said: “We’ve taken huge steps forward across the whole business in the last twelve months – rounding out the team with senior hires, driving product satisfaction to record levels, increasing revenue by over 600%, and launching in several new markets – and felt like this was time to double down on our global expansion.” They’ve also added Bernard Liautaud, founder of Business Objects and one of Europe’s most successful enterprise software entrepreneurs, from Balderton to their board.