ContactMonkey – an internal email communications platform – recently announced the completion of a Series A investment of $55 million from Updata Partners, a leading growth equity firm. This funding round comes as employee engagement is more critical to enterprises than ever.
Quiet quitting has become trending over the last couple of years. And disengaged employees cost the global economy trillions of dollars.
ContactMonkey CEO and founder Scott Pielsticker founded the company in 2010. And the company was bootstrapped, profitable, and has grown 330% in the past three years with best-in-class unit economics. The company is taking on this investment to best scale and meet the rapid demand for its solutions in the market.
ContactMonkey is a one-stop solution for connecting and engaging employees from anywhere. And the platform seamlessly integrates with users’ preferred email clients, including Microsoft Outlook and Gmail, as well as SMS, Microsoft Teams, and Human Resource Information Systems (HRIS) such as Workday, ADP, SAP, etc. This empowers communicators to reach every corner of their organization, ensuring that all employees receive essential company announcements, life-saving alerts, and critical updates promptly.
With powerful engagement analytics, ContactMonkey enables users to build segmented employee lists, collect real-time feedback, and leverage granular email metrics. These insights empower employers to understand what truly resonates with their teams, enabling them to refine communication strategies for optimal engagement.
This investment from Updata will help ContactMonkey double down on its success in Canada, Europe, the US, and Australia. And ContactMonkey will also look to increase its workforce and expand internationally to bring its solutions to new companies worldwide. The company has 80 current employees and expects to double this in 2024.
As part of the investment, Updata Partner Braden Snyder and Operating Partner Sloan Gaon will join ContactMonkey’s Board of Directors.
KEY QUOTES:
“At ContactMonkey, we believe it is vital that companies improve their communications with their employees and facilitate a strong, collaborative, and transparent culture, even across remote workplaces and disparate teams. We’re looking forward to partnering with the Updata team to grow our teams and solutions as more companies realize how critical their internal communications are to their business.”
— Scott Pielsticker, CEO and Founder, ContactMonkey
“ContactMonkey provides a valuable solution as employee engagement becomes a mission critical issue for the C-Suite. It is impressive what ContactMonkey has achieved as a bootstrapped company, and we are eager to partner with Scott and the team to scale its robust solutions globally.”
— Braden Snyder, Partner at Updata
