TDM, Sequoia China lead $100m round for Australia’s HRtech firm Culture Amp

Photo by Redd on Unsplash.

Culture Amp, an Australia-headquartered employee experience platform, has hit a valuation of over $1.5 billion upon the completion of a $100-million Series F round led by TDM Growth Partners (TDM) and Sequoia Capital China.

Salesforce Ventures, the investment arm of US business software maker Salesforce, joined the Series F round as a new investor, alongside existing investors Felicis Ventures, Blackbird Ventures, Index Ventures, Sapphire Ventures, Skip Capital, Grok Ventures, and Global Founders Capital.

Culture Amp plans to use the new financing to “empower more organisations and people leaders,” said Didier Elzinga, CEO and co-founder, in a statement. “The successful companies of today, and tomorrow, are laser-focused on delivering a better employee experience to drive business performance.”

Culture Amp was founded in 2009 as a platform that allows companies to conduct anonymous employee surveys. It has since added performance management, predictive capabilities, and more offerings powered by behavioural science and data analytics to help employers transform employee engagement, develop high-performing teams, and retain talent.

With offices in the US, UK, and Australia, the firm claims to be serving over 25 million employees across 4,000 companies of all sizes and industries worldwide. Its clients include Salesforce, home-rental firm Airbnb, the workplace messaging app Slack, UK’s consumer goods provider Unilever, accounting firm PwC, and fitness chains SoulCycle.

The Series F round brought the total capital raised by the firm to over $258 million. Prior to it, Culture Amp closed $82 million in a Series E round led by Sequoia China in September 2019.

“Organisations are living in a world of unprecedented change, and the last 12 months have only accelerated this. We have seen first-hand the power that Culture Amp’s unrivalled data set and unique insights can have inside boardrooms globally, and we expect this only to amplify in coming years,” said Hamish Corlett, co-founder of TDM, in the statement.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.