Sequoia leads $82m Series E for Australia’s Culture Amp

This is Sequoia’s first investment in the company. Other new backers in the round include Global Founders Capital and TDM Growth Partners. They were joined by existing investors Sapphire Ventures, Felicis Ventures, Index Ventures, Blackbird Ventures, Hostplus, Skip Capital and Grok Ventures.

Culture Amp has raised $158 million since inception in 2010, including a $40 million Series D last year led by Australia’s Blackbird. Hamish Corlett, a co-founder at TDM, said his firm rarely encountered businesses with comparable growth trajectories, while Wesley Chan, a managing director at Felicis, said his team was “astounded” by the company’s growth.

The Melbourne-based company opened its first overseas offices in San Francisco and New York in 2015, followed by a London base the following year. This footprint employs about 400 staff serving 2,500 clients across 147 countries. “Culture Amp has carved out a dominant niche in the global market.” Steven Ji, a partner at Sequoia China, said in a statement.

Culture Amp provides an analytics platform focused on employee feedback that brings together experts in technology, data science and organizational psychology. The service aims to help companies improve engagement with internal personnel. The company claims to have the largest HR dataset globally, with intelligence collected from more than three million employee surveys.

Investment interest in Australia’s workforce management space is expanding rapidly. In the past 12 months alone, companies receiving investment have included Humanforce, Acendre, Quintet, Advanced Personnel Management, Flare, GO1, and Deputy. Last month, Sydney-based Employment Hero raised a Series C round of approximately $15 million.

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• Topics
• Australasia
• Expansion
• Support services
• Technology
• Australia
• Sequoia Capital
• Blackbird Ventures
• HOSTPLUS
• professional services