Leading HR-Tech Start-up Enboarder Raises $4 Million in Investment Round Led by Top-Tier US VC Greycroft to Fuel American Expansion
NEW YORK--(BUSINESS WIRE)--Nov 19, 2018--Enboarder, the cloud-based HR-technology company that helps employers create engaging onboarding experiences, announced today that it has raised $4 million in its latest funding round.
Leading the round was Greycroft, one of the top venture capital firms in the US. The investment sees Enboarder added to the venture capital’s impressive list of portfolio companies, which includes Venmo, Acorns, Axios, Bird, BetterCloud, the Huffington Post and Thrive Global.
Also participating in the round was Australian-based, Our Innovation Fund (OIF), a $50 million investment fund backed by some of Asia Pacific’s leading entrepreneurs and executives. The funding round was undertaken to accelerate growth in the U.S., as well as fuel the ongoing development of the platform.
Enboarder is the world’s first and only Engagement Onboarding Platform, built to help organizations create engaging onboarding experiences. With employee focused onboarding experiences proven to increase retention and productivity, companies such as McDonald’s, Deloitte, GE, TomTom and Samsung among many others are using Enboarder to ensure a rich and consistent onboarding experience for new hires.
Brent Pearson, Founder and CEO of Enboarder, said: “Organisations are waking up to the importance of employee experience and realising that first impressions are crucial. Whilst traditional onboarding focuses on the more procedural, administrative and risk mitigation tasks, today’s talent shortage, low unemployment rates and changing workforce demographics demands a more employee focused approach, and Enboarder is leading the way. Onboarding is currently a missed opportunity to accelerate productivity, increase loyalty and develop an employer brand. We’re making it easy to not only manage the entire onboarding experience at scale but really wow new hires from the day they sign their offer letter.”
“We couldn’t be more excited about the next phase of Enboarder’s business growth. Partnering with Greycroft provides us with the capital we need to continue to grow and expand as well as provide the access to their people and network who have incredible experience in the enterprise technology space,” Pearson continued, adding: “We’ve been incredibly well supported by our existing investors and Greycroft’s inclusion around the table strengthens our depth of talent globally - helping guide the strategic direction of the company, open doors and take this platform to the next level.”
Enboarder enables customers to create customized workflows for each new hire role. The process continues after the new hire is onboarded, so on their start date, they are prepared and more engaged, which is shown to materially increase employee retention and productivity.
“New hires have typically felt a disconnect from the time they sign their letter of offer to their first day on the job. Many express feeling underprepared for that first day in terms of what’s required for the specific role, their connection to that organisation’s culture, the connections to their colleagues and down to the practical stuff like a working computer. We’re changing that for millions of employees around the world and helping them hit the ground running on day one. We couldn’t be more excited about the next phase of Enboarder’s business growth.”
Will Szczerbiak, a Principal at Greycroft, said: “Brent’s an exceptional founder and CEO and the business he and the team have built is best of breed in a fast growing market. Enboarder is making a real impact at organisations around the world and we’re looking forward to helping grow Enboarder’s presence in the U.S. and seize the large opportunity ahead of it.”
Greycroft is a leading venture capital firm focused on investments in the Internet and mobile markets. With offices in the two media capitals of the world – New York and Los Angeles – Greycroft is uniquely positioned to serve entrepreneurs who have chosen us as their partners. Greycroft leverages an extensive network of media and technology industry connections to help entrepreneurs gain visibility, build strategic relationships, bring their products to market, and build successful businesses. Greycroft manages in excess of $1 billion and has made over 150 investments since inception in leading companies including Acorns, App Annie, Boxed, Braintree, Buddy Media, Everything But The House, Extreme Reach, Huffington Post, Icertis, JW Player, Maker Studios, Plated, Scopely, Shipt, TheRealReal, Thrive Market, Trunk Club, Venmo, WideOrbit, and Yeahka.
Enboarder transforms employee onboarding into an ongoing, engaging, rich and consistent experience, rather than a one-off event. Enboarder provides all the tools necessary for organisations to maximise employee engagement for today’s digital generation, without the need for IT or a creative department. Enboarder makes new hires feel welcome and prepared from the moment they sign their offer letter: eliminating pre-start nerves, connecting with the organisation’s culture, creating meaningful connections and being fully prepared to start day one engaged. Enboarder empowers HR teams and managers to create, test and deploy beautiful communications – helping to lay the foundations for a great culture and longer-term employment. Enboarder is the winner of multiple HR-tech awards and is being used by some of the largest organisations globally, including HSBC, Westpac, Tesco, McDonald’s, Deloitte, GE, Samsung and Canva among others.
About Our Innovation Fund, LP
Our Innovation Fund (OIF) is an Australian based venture capital firm that is focussed on partnering with exceptional entrepreneurs building world-class businesses. With $50 million under management, OIF is building a portfolio of up to 20 investments. OIF invests in early-stage businesses with exceptional founders and innovative, high growth or disruptive technologies or business models with demonstrated market demand. The firm’s Partners, Investment Committee members and Investors are made up of some of Australia’s leading entrepreneurs and business builders. The team has significant investment, funds management, operational, and strategic experience across multiple companies, sectors, stages of development and geographies.
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