- Organizational management platform ChartHop recently announced it raised $14 million in a Series A round of funding led by Andreessen Horowitz
Organizational management platform ChartHop recently announced it raised $14 million in a Series A round of funding led by Andreessen Horowitz. This funding round was made possible with the support from new and existing investors including over 40 C-level executives as well as Abstract Ventures, Basement Fund, CoFound Partners, Company Ventures, Cowboy Ventures, the a16z Cultural Leadership Fund, Flybridge Capital, Ride Ventures, the Todd and Rahul Angel Fund, Tokyo Black, SemperVirens, Shrug Capital, and Work Life Ventures.
This new funding round comes on the heels of its recent seed round announced in February 2020 along with ChartHop’s fast growth since launch continues to accelerate. And ChartHop will use the latest funding round to expand its platform built to eradicate manual HR tasks and empower leaders to make data-driven decisions.
The strategic people side of business has been known to be technology-deficient for decades and business leaders are tired of the manual, tedious, and low-tech processes that come with organizational management. This is why over 40 founders and C-level executives have personally invested in ChartHop. They have experienced the pains of spreadsheet-reliant people management like manual headcount and compensation planning and know how hard it is to make informed and strategic decisions without access to the right data.
ChartHop helps solve this problem by centralizing and visualizing the people data leaders need to effectively manage their organization like location, gender, salary, stock grants, job history, and more through seamless integrations with existing people systems. And at the same time, ChartHop gives every employee visibility into how they fit into the organization’s goals making cross-functional collaboration easier than ever before and provides leaders with a platform to collaborate and iterate on plans for their future.
In addition to the latest funding round, the company also announced its new Diversity, Equity and Inclusion (DE&I) offering — which enables organizations to build diverse teams and make equitable organizational decisions. And while organizations may track some employee data today, most do not have structures in place to keep that information updated in order to make and track meaningful changes.
Through ChartHop’s DE&I offering, companies can build a strong foundation rooted in equality by visualizing team composition, compensation, new hires, performance reviews, and more across any dimension like gender, race/ethnicity, veteran status, and sexual orientation.
And ChartHop is excited to offer this as part of its base package ChartHop Build in connection with their best-in-class org chart as it believes access to DE&I data is a foundational need to build a great business. Having the tools for tracking diversity numbers from day one enables organizations to make intentional decisions surrounding diversity efforts.
Companies such as BetterCloud, Better.com, Lightspeed, MongoDB, Starburst, Thrasio, and InVision rely on ChartHop to better manage their organizations. And at InVision, the company believes in putting its employees at the forefront of every decision it makes and ChartHop has been its solution in providing visibility to its 800+ employees around its growing global workforce.
KEY QUOTES:
“Technology has optimized every aspect of a business except one: its people. Leaders have accepted this as the status quo, but now businesses are under more scrutiny than ever before. From supporting remote teams amidst economic crisis to championing equality following nationwide protests, all eyes are turning to HR, yet many lack the tools they need to be effective. ChartHop is the strategic advantage people leaders need to thrive during these unprecedented circumstances, and prepare their businesses for a future where infamously manual tasks are over and data is at the center of every decision.”
— Ian White, founder, CEO and CTO of ChartHop
“ChartHop ties together an organization’s broken systems of record and historical data in a visual way that not only benefits HR, but everyone at the company. We made an initial seed investment in ChartHop knowing it was a much-needed solution in a $148 billion market, but the ensuing events in 2020 have made ChartHop even more essential. As organizations adjust business plans and maintain an engaged workforce while remote, we are confident ChartHop will become, and remain, a necessity for any business leader trying to scale.”
— David Ulevitch, general partner at a16z
“InVision is a distributed workforce across more than 40 countries around the world, so it’s always been critical for us to make intentional decisions regarding our organizational structure and employee experience. ChartHop was the perfect solution that supported our executives and employees in a way that was frictionless and data-driven, solving inefficiencies that we’d been facing for years. I immediately knew this was a technology that every CEO needed, so I’m excited to be an investor in its Series A round.”
— Clark Valberg, CEO and co-founder of InVision
