After a 2017 that exceeded all of our expectations, 2018 has started in a similar vein. We are incredibly excited to announce the completion of our Series B funding round of $22m, led by Balderton Capital. Our existing investors EQT Ventures, IDInvest and Sunstone also participated in the round, and Balderton Managing Partner, Bernard Liautaud, will be joining our board.
The news caps off a great twelve months in which we have taken huge steps forward as a business – partnering with flagship enterprise clients, such as Capgemini, BMW, and Egmont – and it will help to fuel the ambitious expansion plans we have in store for 2018.
Last year we made some exceptional hires, whose successes we will look to replicate again. In particular we bolstered our Product team who, alongside Customer Success, have driven our product satisfaction scores to record levels – a mind-boggling NPS of 66 at the last count.
Travel and growth were also two big themes. We took the whole team to off-sites in Copenhagen, Barcelona and Lisbon; opened offices in Berlin and Auckland, grew recurring revenue by over 600%, and were announced as one of the top 25 fastest growing SaaS startups globally. I could continue to list the contributions and achievements of everyone in the business, but if I did, I’d be here all day. Needless to say, our success hasn’t been a fluke – every member of the team has worked tirelessly to get us to where we are right now.
Looking forward, we can’t wait to start tackling the new challenges that lie ahead – namely expanding our presence across DACH, APAC and North America. We’ll be looking to double our headcount and hire the best of the best – so if you or someone you know would be keen to join us on this journey, please refer to our careers page.
On a personal note, I believe the addition of Bernard to the board will prove to be a real game-changer for us. As founder of Business Objects he’s Europe’s most successful enterprise software entrepreneur, and his expertise will be invaluable in cementing our position as a global leader in the People Analytics market. I think I speak for everyone at Peakon when I say it’s an honour to have Bernard and Balderton on board.
Lastly – and most importantly – this funding round will enable us to double-down on our promise to provide our clients with the world’s best employee engagement solution and produce industry leading employee engagement statistics. We’ve always taken an ambitious approach to our product roadmap, looking to change what it means to run an “employee engagement process”. This investment means we can take what we already believe is the best product on the market to the next level.
So, here’s to the road ahead – to continuing to make the workplace an enjoyable and supportive environment for employees around the world, and to enabling organisations everywhere to reap the benefits that come with having an engaged workforce.