May 25, 2022

The Covid-19 pandemic, along with the by-product of social distancing helping to reduce the spread of infections, has caused many organizations to operate much more dispersed than in the past, drawing more attention to it. things. – not only in these circumstances, but as part of their deeper culture. Today, one of the communications equipment startups that has seen tremendous business growth as a result of this trend is announcing a major funding round, recounting its success in addressing this need. Staffbase, which helps internal teams create, communicate and measure the impact of their communications with their organizations, has raised $115 million in Series E funding that brings the company’s valuation to $1.1 billion.

The funding comes as the company reaches 2,000 corporate clients, for a total of about 13 million employees.

General Atlantic led the round, and Insight Partners also participated (the pair respectively led and participated in the startup’s previous round a year ago). Staffbase will use the funds to further expand the integration and functionality of its product—with a particular focus on integrating the entire Microsoft 365 suite—and to grow its base business. Chemnitz, Germany.

There are dozens of tools on the market today built in the name of communication and collaboration in the workplace, which in itself has become a vast and somewhat obscure category in the corporate IT sector. These include Slack and Teams for chatting or file sharing, Asana for project management, Zoom or Google Meet for video collaboration, Airtable for sharing and collaborating with spreadsheet templates; Dozens of apps targeted at frontline workers (most of the recent fundraiser is Connectome, which raised $120 million earlier this month) and more.

Staffbase sits next to these different tools, but is distinctly different. Co-founder and CEO Martin Behringer told me that part of their unique selling proposition is that their core client is focused on the internal communications team, which is usually not the primary focus of any of these other tools.

Staffbase has created a platform for creating and sending messages and measuring their impact, and in itself offers a complete set of communication products – be it an email application, tools for creating and managing intranets, and an application for employees. use to communicate with each other and listen to announcements and more from management (the latter is similar to the Meta workspace), but it also allows users (internal communication groups) to integrate into the organization, as well as the ability to use all the tools to use. It might already be used for any of these tasks if they’re not going to reinvent the wheel.

“We are integrating existing applications or even replacing them,” he says. “The only thing that makes us different from each other is that we are not a one-stop solution.”

Internal communications are often on the thin end of the line of attention in the workplace: you can work on any project you need to complete or any goal you need to achieve by a given deadline; Or you may be preoccupied with the immediate demands of your job. In any case, they themselves will cause a lot of communication noise and distraction. In this context, internal communication can often feel less urgent or direct about what you need to do.

That’s not all, and the problem has escalated in recent years as companies change the way they work or undertake massive transformation projects. Keeping in touch with employees is becoming more and more important, but the messages you send can carry more information and importance than ever before. All of this has created a new need for internal communications teams to use better tools to reach people and approach their work with greater care than, for example, other departments such as marketing used to measure impact and reach. is used for

Behringer believes that “internal communication has become a critical business area. If they can reach hearts and minds, they can really change behavior, and this is important in times of change or change, when you have hybrid teams, new or younger employees, or if you work with products that should have been fully developed. . Sometimes it needs to be done very quickly, significant changes. And so the teams are looking for solutions to improve that.”

This change may also open the door to a wider set of use cases for what the internal communications team can develop and how it can disseminate that information to employees and other staff. Workplace learning and education is not yet an area that StaffBase is exploring, Behringer said, although it is a clear evolution of the platform, as has long been in the news about new policies and ways to engage employees. At the moment, the observed popularity and the gap it fills in the market has helped it enter the big leagues of communication devices.

“The significant growth in the workforce demonstrates the global resonance of its mission to bring greater interaction between companies and their employees. As the world continues to adapt to new working conditions and the workforce of enterprises becomes more international, connectivity and communication will become more valuable than ever,” said Achim Berg, an operating partner at General Atlantic, in a statement. “We are proud to support Martin and the StaffBase team in developing solutions that will positively impact organizations around the world.”

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