Peakon closes $35M Extension, Bringing Total Series B funding to $57M, to Scale the World’s Leading Employee Retention Platform
March 19, 2019
Investment round, led by Atomico, will accelerate US market growth
Peakon makes quantifiable improvements to employee engagement, retention, and team effectiveness
Atomico Partner Mattias Ljungman to join board
Peakon is one of the world’s top 25 fastest growing SaaS companies
London, UK and Copenhagen, Denmark (March 19, 2019) – Peakon, the world’s leading employee retention platform, has closed a $35m extension round led by Atomico; bringing the company’s total Series B funding round to date to $57m. This latest investment will be used to further scale the company’s already impressive growth in the US market and grow product and engineering teams. Peakon’s existing investors, including EQT Ventures, IDInvest Partners, Balderton Capital, and Sunstone, also participated in this extension round. Phil Chambers, co-founder and CEO of Peakon said: “Peakon had a game-changing 2018. We’ve successfully expanded operations across the globe, including a substantial office in New York led by my co-founder Kasper Hulthin who relocated to the US from Europe last summer. We expect our US headcount to be over 50 employees within 12 months. We are excited to welcome Atomico to the Peakon journey, who we specifically brought in for their operational expertise in international growth and scaling. 2018 was also a monumental year for Peakon’s product innovation, with numerous features that are now unique to the market, including real-time attrition prediction, harassment detection, contextual manager training, and employee experience lifecycle analysis”.Peakon is a SaaS platform that brings managers and employees together by tackling three critical areas. The first is improving employee engagement through frequent, quick feedback surveys via web and mobile. Second, giving managers and employees immediate actionable insights to remove roadblocks and increase productivity (before problems arise).Third, Peakon asks the same standardised questions to all of its customers. That means managers and executives can compare the engagement levels of their teams to direct competitors in their industry. In short, Peakon has created the world’s largest real-time database of how the world’s workforce is feeling. Since launching in early 2016, Peakon has already helped clients such as Capgemini, Verizon, BMW, TrustPilot, Harrods and easyJet make quantifiable improvements to employee engagement, retention, and team effectiveness.Speaking about a period of numerous mergers and acquisitions, Jorge Diaz, Chief People Officer for Verizon Connect, said, “Peakon gave our managers something to hold onto during the transition. It was the secret recipe to success for them, equipping each leader with the information they needed to care for their people and get the best from their teams while all these changes happened around them.” When I think about what we have achieved during this process, using Peakon took us a much higher level, especially with how much our leaders had the opportunity to interact with the data.Verizon Connect is the connected vehicle division of Verizon and the world’s largest fleet management software provider.Peakon – founded by Phil Chambers, Kasper Hulthin, Dan Rogers and Christian Holm in late 2014 – now operates globally, including offices in the UK, Denmark, US, Germany, and New Zealand. In the last 12 months, Peakon doubled headcount to over 180 and grew revenue by over 200%. Peakon expects similar growth in the next 12 months as it further expands into the already $18B employee engagement market. Mattias Ljungman, Partner at Atomico said: “As our world continues to change, traditional concepts of work are being redefined. Workers have to deal with constant change, and this is why it is more important than ever for companies to listen to their employees’ voices and create a positive culture through feedback and engagement. Yet, today companies are still struggling to measure their most important asset: their people. We were blown away by Peakon’s rigorous, data-driven approach to this problem. Using data gleaned from frequent, standardised surveys, Peakon provides immediate, actionable insights to some of the world’s biggest companies to help teams and managers perform better. Peakon will be the game-changing difference that companies need to inspire managers and employees to be the best they can be.”About PeakonFounded 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 BMW, Cap Gemini, easyJet, Verizon, and Pret a Manger.About AtomicoAtomico partners with Europe’s most ambitious tech founders at Series A and beyond, leveraging deep operational experience to supercharge their growth. Founded in 2006, Atomico has partnered with over 100 ambitious teams – including those at Supercell, Graphcore, Omio, Klarna, Lilium, Peakon, MessageBird, Pipedrive, and The Climate Corporation. Atomico’s team of investors and advisors includes founders of four billion dollar companies, and operational leaders who were responsible for global expansion, hiring and marketing at companies from Skype and Google to Uber and Spotify.
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