HR platform Enboarder has raised AU$11.6 million in Series A funding
HR platform Enboarder has raised AU$11.6 million in Series A funding as it seeks to expand in the US, Europe, the Middle East and Africa.
The raise was led by US private equity firm Greycroft, returning after taking part in the previous $5 million round. New investors, Next Coast Ventures and Stage 2 Capital are part of the latest raise
Enboarder uses cloud-based tech to create personalised processes for new starters in a business. The aim is to create greater engagement and personal connection with new employees during the onboarding process, connecting managers, leaders and employees even before they start in their new workplace. It steps in to make new hires feel welcome and prepared from the moment they sign their offer letter.
Since its launch in 2015, more than 200 global firms, including McDonald’s, Westpac, Verizon, Hugo Boss, EA Games and Qantas, have used Enboarder, which has offices in Sydney, Austin and London. Their most recent client is Compass, a US real estate brokerage firm led by Australian expat Ori Allon, with 10,000-employees.
Brent Pearson, Enboarder’s CEO and founder, said the approach to HR still used by most companies was built for a world that no longer exists.
“We’re living in an experience era and yet we welcome new hires with a process,” he said.
“Employees have all the power today and place a premium on experience. Employers need to adapt in order to thrive, and that’s what we’re focused on.”
Greycroft principal Will Szczerbiak is a big fan of Pearson’s software-as-as-service product.
“Enboarder sits right at the centre of this trend with onboarding, which in the traditional form is broken, missing a prime opportunity to make a positive impression on an employee,” he said.
“The platform also extends to other parts of the employee journey and enables the experience employees have come to expect. Customers absolutely love it, the team is terrific and has executed flawlessly since we joined the seed in 2018.”
Australian VC investor Our Innovation Fund (OIF) backed Enboarder to take it global and the continues to back its scaling, with OIF partner Laurence Schwartz saying the platform is “rewriting the rule book for modern onboarding”.
“The speed with which they’ve been able to expand and establish a leadership position in the market has blown us away.”
Flush with funds, Pearson said Enboarder is planning to double the size of its team in the next 12 months. The Series A investment will go towards building out the company’s sales, marketing, customer success and product functions.
This post originally appeared on Start Up Daily and is republished here with permission.