New funding to help solidify Staffbase’s market-leading position in employee communication solutions
Chemnitz – 12 September 2024 – Staffbase SE, the fastest-growing employee communications cloud, announced it has secured a revolving credit facility in an amount of up to €50 million from J.P. Morgan and KfW to accelerate growth plans, broaden operational reach, and support general corporate and working capital needs.
Bijal Patel, Chief Financial Officer of Staffbase, said: “This new financing facility puts us in a strong position to continue scaling sustainably and expanding our international reach, all while pursuing our vision to inspire people to achieve great things together. We are incredibly grateful for the continued support from our investors and partners. This is a testament to the strength of our business model and its potential.”
The facility was led by J.P. Morgan with a participation from KfW, the German state-owned promotional bank, through its Venture Tech Growth Financing program. The agreement was facilitated by the law firms LARK and DLA Piper.
In addition, Staffbase has named J.P. Morgan as its primary bank and global treasury provider, delivering a range of tailored treasury solutions, cash management and liquidity optimization. J.P. Morgan serves clients of all sizes around the world, including venture-backed and high-growth companies, founders and venture capital firms in industries like technology, fintech, disruptive commerce and internet, life sciences, climate tech and health tech.
Marta Czekaj, J.P. Morgan Innovation Economy Germany, said: “We are delighted to support Staffbase on their continued growth journey and help bring their employee communications cloud solutions to new heights. It’s precisely the type of innovation we want to help drive globally.”
Jochen Eichmann, Head of Venture Tech Growth Financing at KfW, said: “The successful financing by KfW is an important milestone for the realization of our pioneering projects. We are proud to support Staffbase on its path to success and look forward to contributing to the further development and growth of the company. Staffbase is a remarkable company and we believe in its business model and potential.”
About Staffbase
Staffbase is the fastest growing employee communications cloud, equipping many of the world’s leading companies with solutions to inspire every employee with motivating communication. With almost 3,000 customers, Staffbase helps organizations such as Adidas, Alaska Airlines, Audi, Blue Apron, DHL, and Whataburger to inspire their people to achieve great things together. Staffbase connects companies with their employees through a branded employee app, intranet, email, SMS, digital signage, and Microsoft 365 integrations, all of which can be managed through a single platform. Staffbase was named a leader in the 2023 Gartner® Magic Quadrant™ for Intranet Packaged Solutions. Staffbase also received the 2024 Choice Award for Intranet and Employee Experience Platforms from ClearBox. Headquartered in Chemnitz, Germany, Staffbase has offices worldwide, including New York City, London, Berlin, Sydney, and Vancouver.
For more information please visit www.staffbase.com.
Media contact
Melanie Bochmann
Senior Director Communications
press@staffbase.com