Aussie workplace culture startup raises $10 million
Culture Amp, a startup headquartered in Melbourne, Australia that helps businesses know just what their employees think about work, has raised US$10 million (A$13.5 million) in a new funding round.
The Series B funding was led by Index Ventures, along with Felicis Ventures and Blackbird Ventures, Culture Amp announced in a statement Monday.
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Culture Amp banks on the fact businesses now recognise a good workplace culture can provide a competitive edge, Peter Haasz, vice president of business development and strategy at Culture Amp, told Mashable Australia. "We've realised if we want to be more innovative and deliver better service to our customers, we need better culture," he said.
Culture Amp aims to help companies grapple with these issues by offering an analytics platform that can provide them with quantitive and qualitative data about their employee satisfaction.
The company will use the cash injection to add new features to its platform and to begin a push into Europe, Haasz said. They're just about to open a London office, to compliment those in Melbourne, San Francisco and New York.
Monday's news marks the company's biggest funding round so far, Haasz said. It raised US$6.3 million (A$8.5 million) in March, 2015.
The company, which began in its current form in 2013, claims to have some high profile, high-tech clientele, including Slack, Namely, Airbnb, Etsy, Eventbrite, Pinterest and Warby Parker.
When asked if the company intends to one day go public, Haasz said they didn't have any specific exit goals. "Our vision is the primary motivator for us — change the world of work for 10,000 organisations," he said.
Currently, Culture Amp is in more than 500 workplaces. While it began working mostly with technology companies, it has started to field interest from a wider circle of businesses. "We got our start in technology in 2014, and partly I think that was because tech companies are inherently innovative and willing to do things differently," he said.
"What we found last year is the credibility of working with those companies has helped us branch out into hospitality, media and mining companies."
In fact, Culture Amp is now used by five Australian Football League teams. "We have quite a large number of sporting teams," Haasz said. "Organisations where performance matters."
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Ariel Bogle was an associate editor with Mashable in Australia covering technology. Previously, Ariel was associate editor at Future Tense in Washington DC, an editorial initiative between Slate and New America.
