- Existing investors IDInvest and Sunstone participating
- Total funding over last year exceeds $10.5 million
- Peakon to invest in machine-learning, data-science and engineering teams
London, England – March 27, 2017 – Peakon (www.peakon.com), the London and Copenhagen based people analytics company, today announces the completion of its latest funding round of $6.5M. Lead investor in this round was EQT Ventures, along with Peakon’s existing investors, IDInvest, Sunstone and angel investor, Tommy Ahlers.
Since launching in early 2016, Peakon has been rapidly adopted by hundreds of enterprise clients such as World First, Trinity Mirror, Secret Escapes, and Lombard Risk. Peakon creates tangible improvements to employee engagement and retention through insights delivered via its SaaS platform. These insights are generated through the automated collection of employee feedback via web and mobile apps, which is then analysed using the latest machine learning techniques, to understand what motivates employees, what problems they have, and how those problems can be fixed.
Peakon – founded by Phil Chambers, Kasper Hulthin, Dan Rogers and Christian Holm in late 2014 – already operates across three locations in the UK, Denmark, and the US, and is expected to treble headcount to over 100 in the next 12 months. This rapid growth has been fuelled by its emergence as a leading provider of employee engagement and people analytics software – which Deloitte estimates is already a $1bn market.
Phil Chambers, co-founder and CEO of Peakon said: “We have been overwhelmed by the positive response to our platform, and have found ourselves in the fortunate position of being in a booming market with a leading product. Due to revenue growth, we were already in a solid financial position, and decided to capitalise on this by accelerating our growth plans, particularly in building out our machine learning, data-science, and engineering teams. The EQT Ventures team brings some fantastic operational experience in international scaling, marketing and product and it’s great to have them on board. With a customer base that is growing across Europe and also in the U.S., they’re a great match for us.”
Lars Jörnow, Managing Partner at EQT Ventures said: “AI is tipped as one of the key tech sectors for investors this year, and the team have had an impressive start, demonstrating strong revenue growth and product adoption. We are thrilled to be able to support them for the next stages of the company’s development. Workplace culture and being able to track, analyse and act on employee engagement is becoming increasingly vital for all of the top performing companies in the world.”
Founded in December 2014 by Kasper Hulthin (Podio – acquired by Citrix), Christian Holm (Podio), Phil Chambers (Gumtree – acquired by eBay, Qype – acquired by Yelp, Podio), and Dan Rogers (Qype, Songkick), the Peakon team has a track record of building some of Europe’s most successful technology startups.
Peakon’s mission is to impact the world’s productivity and happiness by using data to create meaningful understanding between employees and their companies. Peakon is a privately held company with offices in Copenhagen, Denmark; London, UK; and Raleigh, US. Peakon works with hundreds of leading enterprises, including Trinity Mirror, Secret Escapes, LHH Penna (part of the Adecco group), World First, Lombard Risk Delivery Hero, Opera, Urban Airship, and Adzuna.
About EQT Ventures
EQT Ventures is a new European VC fund with commitments of just over €566 million and offices in Stockholm, Amsterdam, London and Luxembourg. Fuelled by some of Europe’s most experienced company builders, EQT Ventures help the next generation of entrepreneurs with capital and hands on support. EQT Ventures is part of EQT, a leading alternative investments firm with approximately EUR 35 billion in raised capital across 22 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 17 billion and approximately 100,000 employees.
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