Workvivo, an worker communications platform based solely three years in the past, has raised $16 million in a Series A funding, in a spherical led by Tiger Global which is greatest know for big growth-oriented rounds.
Also collaborating is Frontline Ventures and Enterprise Ireland, earlier buyers. The Series A spherical follows on from a seed spherical late final 12 months, bringing its complete funding to only over $17.5 million.
In the final couple of months it’s develop into fairly apparent to tens of millions of individuals throughout the COVID-19 pandemic that working remotely on-line was going to determine of their future. So firms which have merchandise which makes that transition simpler have skyrocketed in worth, even when this was in all probability an total long-term development. But methods to reproduce that elusive “firm tradition” on-line? That is far tougher.
Solutions like Jive or Facebook Workplace have come alongside, however Workvivo has taken a special strategy to creating an inner communications platform designed to have interaction and join with staff.
Founded in Cork, Ireland, the platform is thought for creating a way of neighborhood and belonging to the group, the type of which you may get from a extremely engaged Facebook group that you simply had been a fan of. Through internet, desktop and a cell app, Workvivo permits staff to learn and submit content material to an exercise feed, in addition to ‘like’, share and remark in the identical manner they could on Facebook. It’s in the identical ecosystem as Slack, however the place Slack doesn’t do “tradition” so properly. NETGEAR, TELUS International and Cubic Telecom are among the many many firms now utilizing it.
The Cork-based firm, based by John Goulding and Joe Lennon, bootstrapped from the beginning. Goulding stated in an announcement: “The transfer to distant working has been considerably accelerated by latest occasions. It’s now extra essential than ever that staff are capable of successfully talk and stay engaged with one another and with the enterprise. Workvivo’s communication platform helps organizations join and interact with their staff no matter location, bringing the tradition alive and aligning all people with what the group is attempting to realize.”
He stated the funding might be used largely for gross sales and advertising and marketing in addition to product growth. This is typical of growth-funding rounds akin to this.
In an interview with TechCrunch, he denied the funding was precipitated by the worldwide pandemic, however extra by the longer-term development of distant working.
In an indication that that is virtually definitely the case, remote-working advocate Eric Yuan, founding father of Zoom, beforehand invested final 12 months.
Gallup estimates 70% of staff globally are “disengaged” at work and this prices the worldwide financial system $450 billion yearly. And who can blame them when their firm “intranets” are normally so boring.