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.