Older generations may have stayed with the same job for 30 years, but things have changed a bit since then. Today, if employees don’t feel engaged in their work, they’re likely to search for something new, leaving their companies to deal with the aftermath.
Peakon, a platform that measures employee engagement, is here to provide more transparency into the workplace — and investors are showing their support. The company just announced a $35 million Series B extension, bringing the round to $57 million. The round was led by Atomico, with participation from existing investors EQT Ventures, IDInvest Partners, Balderton Capital and Sunstone.
Since its founding in 2014, the company has raised $68 million in funding.
I personally believe — and it’s a belief that is shared by everyone at Peakon — that people are the most important aspect of any business.”
“It has always been our focus to be the driving force for change in the world of work, and we look to continue that with increased velocity,” CEO and co-founder Phil Chambers said in a company statement. “I personally believe — and it’s a belief that is shared by everyone at Peakon — that people are the most important aspect of any business.”
Using employee-submitted survey responses and engagement data, Peakon is able to predict when an employee is about to part ways with a company. They use analysis based on 30 million data points to anticipate an employee leaving 250 days in advance of doing so.
The company has a global presence, with offices in New York, U.K., Denmark, Germany and New Zealand, and will use the investment to grow the team over the next 18 months. Currently, they employ 180 people, with plans to triple their U.S. headcount.