- Mobile-first employee communication and experience platform company Staffbase has raised $23 million in funding to reach distributed workforces.
Staffbase — a mobile-first employee communication and experience platform that offers a place to go for employees to access information and work-related services — announced it raised $23 million in a new round of funding. This is essential as the U.S. economy had 7.4 million unfilled jobs and only 6.2 million people were looking for work as of the end of March. That marked the 13th straight month that the number of job openings was higher than the number of job seekers, making it harder for businesses to compete harder to attract workers.
The funding round was led by Insight Partners. And existing investors e.ventures, Capnamic Ventures, and Kizoo Technology Capital also participated in the new funding round. Including this round of funding, Staffbase has now raised $35 million since it was founded in 2014. And the company was recently listed by Gartner as one of the leaders for employee communication applications.
“Generation Y, labor shortage, and the constant need for change are the biggest drivers we see behind organizations feeling pressure to become a people-first workplace,” said Staffbase CEO and co-founder Dr. Martin Böhringer. “Staffbase is the front door for great employee experiences. We learned that great stories shared throughout the company in order to build a unified identity and purpose are at the heart of today’s employee experience. That’s why the core of Staffbase is a set of tools for mobile-first employee communications, intranet capabilities, and employee engagement. This is completed with an employee experience engine enabling highly individualized employee journeys based on deep integration into existing processes and systems.”
With a mobile-first approach, Staffbase enables customers to reach their distributed workforce, including the more than 70% of workers that do not regularly work in an office. There are more than 300 enterprise customers already using the Staffbase platform, including Adidas, DHL, Brinks, Siemens, VodafoneZiggo, and MAN.
“Staffbase goes well beyond a communication platform and brings together so many of the resources we need to put in front of our employees―from Communications and Employee Health Management to HR and Finance. When we used email as our main communication tool, an average of only 20% of employees even opened them. Now, 70% of our employees actively engage with the app on a weekly basis,” added Versum Materials Senior Global Communications Manager Tiffany Elle.
Launched in Chemnitz, Germany, Staffbase has more than 200 employees across 7 locations with its two headquarters being the original European base and New York. This investment will be used for further expanding the product portfolio and drive expansion in core markets of Europe and the U.S.
“Staffbase creates a simple and flexible mobile-first front end layer that can be designed around the employee journey. They discovered that employee communication plays a crucial role for a people-first workplace and belongs at the heart of the employee experience. We were particularly impressed with the high customer satisfaction and usage rates that Staffbase achieves with its customers. We look forward to working with Staffbase to scale their product and continue to address this unsolved problem,” explained Insight Partners managing director and Staffbase board member Teddie Wardi.
