SaaS ‘people analytics’ firm Peakon raises $22m for US, German and APAC expansion
Counting the likes of Capgemini, BMW, and Maersk as clients, Peakon provides employee engagement software to corporates. A $1bn market
Peakon, the SaaS ‘people analytics’ start-up, has raised $22m in a funding round led by Balderton Capital, which also included existing investors EQT Ventures, IDInvest Partners, and Sunstone.
Counting the likes of Capgemini, BMW, and Maersk as clients, Peakon provides employee engagement software to corporates – which is an estimated $1bn market.
Headquartered in London, but operating internationally, Peakon also has offices in Denmark, US, Germany, and New Zealand – and expects to double its headcount over the next year to more than 180 people.
Founded by Phil Chambers, Kasper Hulthin, Dan Rogers and Christian Holm in January 2015, the start-up will use the fresh funds to invest in further international expansion, particularly in the US, Germany and APAC.
As part of the deal, Balderton managing partner Bernard Liautaud has also agreed to join Peakon’s board.
Phil Chambers, co-founder and CEO of Peakon, said:
“We’ve taken huge steps forward across the whole business in the last twelve months – rounding out the team with senior hires, driving product satisfaction to record levels, increasing revenue by over 600%, and launching in several new markets – and felt like this was time to double down on our global expansion.
“Not only have we established ourselves as a leader in the people analytics market, we’ve also emerged as one of the fastest growing SaaS start-ups in Europe.
“Adding Bernard to the board is a game-changer, as founder of Business Objects he’s one of Europe’s most successful enterprise software entrepreneurs, and he’ll give us the expertise to cement Peakon’s position as a global leader in the market.”
Bernard Liautaud, managing partner at Balderton Capital said:
“Peakon is a great product that has been going from strength to strength, driven by an exceptional team. People analytics will transform the world of work in the next decade and Peakon is well positioned to benefit.
“I’m very excited to be joining the board and look forward to helping them achieve even greater success.”