Australia-based Culture Amp announced a $100 million Series F round of venture capital and a new $1.5 billion valuation, becoming the latest newly minted work tech unicorn. The round was led by TDM Growth Partners and Sequoia Capital China, with new investor Salesforce Ventures joining Felicis Ventures, Blackbird Ventures, Index Ventures, Sapphire Ventures, Skip Capital, Grok Ventures, and Global Founders Capital. This brings its total raised to $257.5 million.
Culture Amp launched in 2011, standing alone as a new breed of employee experience technology, putting the employee’s voice first via behavioral science-backed pulse surveys, aiming to disrupt the long-form annual employee engagement survey, which was the norm at the time. With its focus on building great company culture and teams, Culture Amp saw rapid adoption, now boasting over 4,000 customers and amassed a global community of “People Geeks,” now more than 100,000 members strong.
With this strategic round of funding, we will empower more organizations and people leaders to unlock the power of humanity at work, as the industry’s single most trusted place for all of their employee experience needsDidier Elzinga, CEO and co-founder Culture Amp
Along the way, Culture Amp extended its product from culture and engagement surveys into strong people analytics, employee performance management and feedback, learning, and behavioral economics – nudging managers and employees to take culture-relevant action in the flow of work. Culture Amp was named one of WorkTech’s (formerly HRWins) Companies to Watch in 2017. With this new capital and valuation, we expect the company to eye merger and acquisition strategies, exit paths, or both.
$7.6 billion was invested globally in work and HR technology during H1 2021, with $4.9 billion in Q2 2021 alone. Get all of the details as a free WorkTech Market Insider in our quarterly report.