Cork-based communication platform secures $16m in funding
14 May 2020 | 0
Irish employee communications platform, Workvivo, has raised $16 million in Series A funding, bringing its total funding to $17.5 million.
Tiger Global, who have invested in companies such as LinkedIn, Airbnb, Stripe, Uber and Square led the round, with participation from Frontline Ventures and support from Enterprise Ireland.
Founded in Cork three years ago by John Goulding and Joe Lennon, Workvivo provides companies with an internal communications platform to engage and connect with employees.
John Goulding, CEO and co-founder, Workvivo said the funding will be used to grow further internationally: “The move to remote working has been significantly accelerated by recent events. It’s now more important than ever that employees are able to effectively communicate and remain engaged with each other and with the business.
“Workvivo’s communication platform helps organisations connect and engage with their employees regardless of location, bringing the culture alive and aligning everybody with what the organisation is trying to achieve. We have experienced tremendous success to date and this funding will allow us to expand our reach significantly to help organisations across the globe, while also allowing us to continue to invest strongly in ongoing product development.”
Gallup estimates that 70% of employees globally are disengaged at work, which costs the worldwide economy $450 billion annually. With this, and the prevalence of remote working currently, keeping employees connected and engaged is more of a priority than ever for progressive companies.
Bus Eireann, Morgan McKinley, Woodies, Trigon Hotels and UCC are amongst those companies using Workvivo in Ireland.