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The Cork-based Employee Communication Platform, Workvivo Raises $16M
An employee communications platform raises $16 million in a Series A funding round to finance the development of an internal employee community
Fremont, CA: Workvivo, an employee communications platform founded in 2017, raised $16 million in Series A round of financing led by Tiger Global, which is mostly known for large growth-oriented rounds. Investors who also participated in the funding round are Frontline Ventures and Enterprise Ireland, previous investors of the firm. The Series A round follows the seed round late last year, bringing the total funding to just over $17.5 million.
Since the outbreak of COVID-19, millions of employers have opted for remote workforces, and companies have launched products that make the transition easier. These products have skyrocketed in value, even if this was a long-term trend. Solutions like Jive or Facebook Workplace have come along, but Workvivo has implemented a different approach to creating all internal communications platforms designed to engage and connect with the employees.
Workvivo was founded in Cork, Ireland, and since its inception, the platform is known for creating a sense of community and belonging to the organization. Through the web, desktop, and mobile app, Workvivo allows employees to stay updated, post content on the activity feed as well as like, share, and comment on the same method as Facebook.
Workvivo bootstrapped from the beginning, said Goulding, founder of the company in a statement, “The move to remote working has been significantly accelerated by recent events. It’s now more important than ever that employees can communicate effectively and remain engaged with each other and with the business. Workvivo’s communication platform helps organizations connect and engage with their employees regardless of location, bringing the culture alive and aligning everybody with what the organization is trying to achieve.”