Workvivo, the provider of an employee experience (EX) and communication platform designed to increase worker engagement on an emotional level and to centralize internal communications, has raised $22 million in new funding, tripling the company’s valuation.
The round was led by Tiger Global, an investment firm headquartered in New York City focused on the global internet, software, consumer, and financial technology industries, and a previous Workvivo investor as well. Total funding for the company now stands at $38 million.
The new funding will be used to fuel the next stages of the company’s product journey, with innovative features to be built aimed at bringing organizational and company culture to life and humanizing the digital workplace experience. Founded in 2017, Workvivo has enjoyed year-on-year growth of more than 150% in the last three years. And in the past year, the company has opened new offices in Boston, London, and Dublin. The number of Workvivo employees has grown sixfold since 2020, with current headcount at 123.
Workvivo offers a centralized communications hub for employees to share, post, comment, podcast, and livestream. Its platform, which provides employees with access to workplace tools, features strong integration with many major third-party communication platforms, including Zoom, Slack, Microsoft Teams, and Google Workspace, while also incorporating a wide array of tools for productivity, human resources (HR), and customer relationship management (CRM) purposes. All told, the company has more than 300 customers in 90 countries.
John Goulding, CEO and co-founder of Workvivo, says the new funding will help the company take the next step in helping organizations retain their best talent. Since the pandemic began, organizations have been struggling to connect meaningfully with employees, with 60% of employees in general planning to leave their jobs, Workvivo research indicates.
“The employee experience is crucial for leaders to prioritize, as employees are more burned out and disconnected from their company’s culture than ever,” Goulding says. “CEOs that adapt to the new working world and change the way they engage their employees will create new and better opportunities for their company and retain their best talent in this period of The Great Resignation.”
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Alex is responsible for writing about trends and changes that are impacting the customer experience market. He had served as Principal Editor at Village Intelligence, a Los Angeles-based consultancy on technology impacting healthcare and healthcare-related industries. Alex was also Associate Director for Content Management at Omdia and Informa Tech, where he produced white papers, executive summaries, market insights, blogs, and other key content assets. His areas of coverage spanned the sectors grouped under the technology vertical, including semiconductors, smart technologies, enterprise & IT, media, displays, mobile, power, healthcare, China research, industrial and IoT, automotive, and transformative technologies.
At IHS Markit, he was Managing Editor of the company’s flagship IHS Quarterly, covering aerospace & defense, economics & country risk, chemicals, oil & gas, and other IHS verticals. He was Principal Editor of analyst output at iSuppli Corp. and Managing Editor of Market Watch, a fortnightly newsletter highlighting significant analyst report findings for pitching to the media. He started his career in writing as an Editor-Reporter for The Associated Press.
