- Series E funding led by General Atlantic brings Staffbase to unicorn status
- Company more than doubled revenue in 2021
- Fresh capital will be used to further accelerate growth and expand solutions
Chemnitz / Munich / New York – March 15, 2022 – Staffbase, a leading provider of employee communications management solutions, today announced a $115M (€106M) Series E financing round led by General Atlantic, a leading global growth equity firm. Staffbase will leverage the new funds to help scale internationally and strengthen its global leadership in the internal communications space. Existing investor Insight Partners also participated in the round.
Based in Chemnitz, Germany, Staffbase provides enterprise customers with a comprehensive employee communications platform that enables them to connect with their employees seamlessly. Staffbase solutions are currently improving employee communications for over 2,000 enterprises worldwide, impacting the work experiences of over 13 million employees. With the new funds, the company plans to further invest in expanding its platform, working to complete its full integration of all solutions with Microsoft 365®, as well as further accelerate growth at a time of increased market demand for employee communications solutions.
Dr. Martin Böhringer, Co-Founder and CEO of Staffbase, said, “We founded this company in 2014 believing that internal communications deserve purpose-built solutions. Whether employees are frontline or work behind a desk, the last two years have shown that clear and authentic communication that reaches all employees across an organization has become mission critical. We thank our investors for their continued support of our mission and values as we continue to drive innovation in employee communications solutions.”
Achim Berg, Operating Partner at General Atlantic, said, “Staffbase’s significant growth demonstrates the global resonance of its mission to enable deeper engagement between enterprises and their employees. As the world continues to adapt to new modalities of working, and as enterprise workforces become increasingly international, connectivity and communication will become more valuable than ever before. We are proud to back Martin and the Staffbase team as they develop solutions that have a positive impact on organizations worldwide.”
Staffbase’s Series E funding round follows the company’s $145 million (€122 million) Series D led by General Atlantic in March 2021. Staffbase also merged with Canada-based Bananatag, a leading provider of email based internal communications solutions, in March 2021. In November 2021, the company acquired Valo Solutions, a leading provider of intranet and workplace solutions for Microsoft 365, SharePoint, and Microsoft Teams. Staffbase currently has nearly 600 employees across 14 global offices.
In ongoing support of elevating an industry with an ever-increasing need for specialized training, the company also plans to invest approximately $54 million (€50 million) in 2022 to establish various initiatives including an academy dedicated to the ongoing development of skills for internal communications professionals. Other community support programs include Staffbase’s award-winning Internal Communications Masterclass series and the company’s annual conference series VOICES.
Staffbase is a high-growth, deeply experienced provider of employee communications management solutions for enterprise companies. The mobile compatibility of the company’s platform allows employers to securely reach their employees everywhere with reduced complexity — whether in the office, at home, on the factory floor, or on the road. Staffbase solutions give employees greater access to the corporate information that’s relevant to them, along with tools for the modern digital workplace, including existing intranets. With headquarters in Chemnitz, Germany, and offices in Amsterdam, Berlin, Calgary, Cologne, Dresden, Helsinki, Kelowna, London, Melbourne, Montreal, Munich, New York City, and Vancouver, Staffbase provides branded solutions for more than 2,000 leading companies worldwide who are transforming their employee communications, including Adidas, Audi, Paulaner, Spark Power, UC Health, US LBM, and Vestas. Staffbase has received the 2021 Global Employee App Choice Award and 2022 Choice Award for Intranet and Employee Experience Platforms from ClearBox Consulting. Please visit staffbase.com for more information.
About General Atlantic
General Atlantic is a leading global growth equity firm with more than four decades of experience providing capital and strategic support for over 445 growth companies throughout its history. Established in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to scale innovative businesses around the world. General Atlantic currently has over $84 billion in assets under management inclusive of all products as of December 31, 2021, and more than 215 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai, Singapore and Stamford.
More info: generalatlantic.com
About Insight Partners
Insight Partners is a global software investor partnering with in high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of February 24, 2022, the closing of the firm’s recent fundraise, Fund XII, brings Insight Partners regulatory assets under management to over $90B. Insight Partners has invested in more than 600 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and Palo Alto. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Insight Partners meets great software leaders where they are in their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.
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