- Knoetic recently announced it raised $36 million in funding. These are the details.
Knoetic recently announced it raised $36 million in funding.
Funding round: Series B
Funding amount: $36 million
Investors: Led by EQT Ventures with participation from Menlo Ventures and Accel
Total funding raised: Over $50 million to date
Knoetic recently announced it raised $36 million in Series B funding. And since being founded in 2020, Knoetic has experienced rapid expansion, including 5X YoY ARR growth, 20X community growth, and 3X YoY headcount growth. Building on this momentum, Knoetic is going to use its new funds to invest in its two main product lines:
People Analytics – The Knoetic People Analytics platform empowers teams to uncover comprehensive workforce insights on their attrition, DEI, performance, compensation, and more. By integrating with 60+ HR systems to give leaders a single source of truth, Knoetic saves People teams 100s of hours typically spent on wrangling HR data, allowing them to focus their time on more strategic, high-impact work.
Community (CPOHQ) – Knoetic will also further expand its global network of people leaders and CPOs, making it easier for members to find peers to confide in, learn from, and grow with. With exclusive access to playbooks, strategic discussions, benchmarking, and more, CPOHQ members gain powerful toolkits to make better workforce decisions in their leadership roles.
KEY QUOTES:
“Every day, challenges emerge in this new world of work. Chief People Officers, HR leaders, and modern managers are making incredibly tough decisions daily. A lot more has been expected of them ever since 2020 rolled around.”
“To rise to the challenge, this generation of People leaders needs to have a strategic pulse on what’s happening both inside AND outside their companies. That’s where Knoetic comes in.”
“Our People Analytics solution gives you 100s of insights about what’s happening within your organization. And our community gives you an alliance of C-level peers to collaborate with. Knoetic helps you make better decisions about your people, and we’ll soon be in the hands of every Chief People Officer in the world.”
“I couldn’t be more thrilled to partner with EQT Ventures and Ali, in particular, as we execute this next chapter of Knoetic’s story. I have a true thought partner in Ali, who understands the vision. We’re excited to play big and win big with his team.”
– Joseph Quan, Knoetic’s Founder and CEO
“Knoetic is leading the strategic digitization of the HR function for some of today’s fastest-growing companies, and we are excited to support the team’s global expansion to create and lead in this category. Companies today are crushed under a sea of HR data buried in siloed systems. Knoetic is offering the data infrastructure layer to not only surface today’s workforce insights, but also to predict future ones.”
“We’re excited to partner with the Knoetic team and Joseph, the founder and CEO, in whom we saw some of the traits of world-class B2B founders. I am honored to partner with him and his team to help Knoetic build a category-defining global success story.”
– Alastair (“Ali”) Mitchell, Partner and Co-Head of EQT Ventures – who will also join Knoetic’s Board of Directors
“In the competitive world of business, People teams play an increasingly important role. Knoetic unlocks their full potential with a purpose-built system that unifies HR point solutions and enables data-driven decisions across the entire org. It’s a powerful solution that Joseph and the team are building alongside a powerful community of Chief People Officers, and we’re thrilled to be supporting them on this journey.”
– JP Sanday, Partner at Menlo Ventures
