General Atlantic Leads the Funding Round for Staffbase
Achim Berg, Operating Partner at General Atlantic and President of Bitkom, Germany’s digital association, will join Staffbase’s advisory board as part of the collaboration.
FREMONT, CA: Staffbase, a leading digital solution provider for internal communications, and General Atlantic, a global growth equity firm, announced a strategic partnership. General Atlantic is leading a 145 million dollar funding round for the Chemnitz, Germany-based start-up to help it expand globally and boost its global leadership in the employee engagement sector. Current investors Insight Partners and e.ventures will contribute to this funding round, while KIZOO and Capnamic Ventures will continue to invest. Achim Berg, Operating Partner at General Atlantic and President of Bitkom, Germany’s digital association, will join Staffbase’s advisory board as part of the collaboration.
Dr. Martin Böhringer, Co-Founder and CEO of Staffbase, said, “Our vision is to unite all of a companys employees through strong internal communications and a shared mission. To bring this about, we provide managers and communications specialists at enterprise companies with the leading digital platform for successful employee communications a platform that we are expanding very rapidly. The partnership with General Atlantic will further help us achieve this and accelerate our growth, especially in North America. The strong local team and the expertise it provides are decisive for us.”
Staffbase, which was established in Chemnitz in 2014, has grown to become a multi-award-winning provider of an internal communications suite, which includes an employee app, an internal email newsletter tool, and a cutting-edge intranet platform, all of which are designed to improve employee communications. More than eight million people consume its products in over 1,000 companies. Adidas, Audi, BHP, Deutsche Post DHL, Hitachi, Ikea, Groupon, Johns Hopkins University, McKesson, Suncor, Viessmann, Groupon, and Volvo are among the global companies and organizations that use Staffbase.
“Staffbase is a global pioneer and has developed software that specifically addresses the employee experience, supporting enterprises in transforming internal communications and engagement. We have been following this exciting company for quite some time and are looking forward to partnering with Martin and the Staffbase team to build on the business position as a global market leader. Staffbase is a prime example of the quality of entrepreneurship and range of innovative companies with global ambitions emerging out of Germany,” said Dr. Christian Figge, Managing Director, General Atlantic.
The Staffbase platform enables businesses to connect with all of their workers efficiently and easily, whether through corporate-branded messaging, timely and accurate news dissemination, or successful measurement of communications activities. The company’s technologies help workers identify more directly with their employers, allowing for more efficient onboarding and increased employee engagement. The COVID-19 pandemic and the rise of hybrid workplaces have highlighted the value of focused and agile internal communications. Senior management at major corporations increasingly sees internal communications as a strategic tool for communicating with employees and guiding them through this time of digital transformation.
Staffbase employs 450 people in 11 places worldwide, including its headquarters in Chemnitz and offices in London, New York, Vancouver, Amsterdam, and Berlin. Bananatag, Canada’s leading supplier of internal communications solutions, merged with the group in early March. The merged business is one of the largest and fastest-growing suppliers of cutting-edge internal communications tools globally. The Staffbase suite, which includes an employee app and intranet, has been extended due to the acquisition to provide a native solution for email correspondence and tighter integration with collaboration platforms such as Slack and Microsoft 365, including Microsoft Teams and SharePoint.