Akumina, a Nashua, New Hampshire-based workplace intranet company, has raised $7.5 million in Series A funding. This round of funding was led by Richard Berthy (RJB Investments) along with Avanade via Accenture Ventures and Stage 1 Ventures. In conjunction with this round of funding, Berthy — who is the CEO of Foreside Financial Group — was also named as Akumina’s Chairman of the Board.
“Stagnant workplace technology has been a huge drain on both productivity and employee satisfaction,” said Akumina president and chief revenue officer David Maffei. “Akumina was founded on a simple, yet powerful belief that empowering employees through technology will increase engagement and keep employees informed and productive. We’re excited to put this new funding to work as we deliver on that vision with cutting-edge solutions that enterprises can use to give employees the context and content they need to do amazing things.”
Akumina’s platform replaces shared drives and cluttered Intranets with a centralized hub that works like modern websites, apps, and dashboards. And it integrates seamlessly with the most used enterprise cloud applications such as Office 365. Businesses can use Akumina to create branded and customized digital workplaces to enable employees to become better informed.
The World Champion Boston Red Sox baseball team uses Akumina’s platform to bring employees up-to-speed quickly. This is especially important because the team keeps the full-time staff relatively lean and it more than triples in size during the regular season. Brian Shield, the vice president of IT at the Boston Red Sox, said that they tried several solutions but Akumina was the only one that offered built-in functionality along with customization capabilities and cost-effective scale.
“Businesses have invested heavily in the customer experience for years, but the employee experience hasn’t kept up,” added Berthy. “Too often, internal resources are stuck working with outdated systems, technologies and information that make it a struggle to serve the business and its customers to their best ability. Akumina is solving that issue with an elegant solution that’s not only easy to customize and deploy, but also grows and adapts with a business’ changing needs.”
Akumina saw 191% year-over-year annual recurring revenue growth this past year. And the company’s bookings increased 192% year-over-year from Q3 2017. Some of Akumina’s customers include Whole Foods, GlaxoSmithKline, Vodafone, and the United States Department of Defense.