intranet startup staffbase raises $145m in growth round led by general atlantic
Staffbase Secures $145 Million in Funding
Staffbase, a provider of internal communications platforms designed to function as company intranets, has successfully closed a $145 million (€122 million) financing round. The investment was spearheaded by General Atlantic, a prominent growth equity firm.
Existing investors, including Insight Partners and e.ventures, also contributed to this funding round.
Company Origins and Growth
Founded in 2014 in Chemnitz, Germany, Staffbase has rapidly expanded its client base.
Currently, the company serves over 1,000 organizations.
Notable clients include Adidas, Audi, BHP, Deutsche Post DHL, Groupon, Hitachi, Ikea, Johns Hopkins University, McKesson, Paulaner, Suncor, and Volvo.
Recent Merger and Market Trends
Earlier in March of this year, Staffbase completed a merger with Bananatag, a Canadian company specializing in internal communications solutions.
The increased adoption of digital tools by businesses, particularly accelerated by the COVID-19 pandemic, has significantly benefited Staffbase.
Competitive Landscape
Staffbase operates within a competitive market.
Key competitors include Dynamic Signal, which has raised $114.8 million, and Social Chorus, with $47 million in funding.
In the intranet space, Simpplr ($29.1 million raised) and Unily ($68 million raised) represent further competition.
Key Differentiators
Staffbase distinguishes itself by integrating mobile employee applications and intranets into a single, unified platform.
Furthermore, the platform offers seamless integration with both the Microsoft 365 ecosystem and the Slack messaging platform.
Statements from Leadership
Dr. Martin Böhringer, co-founder and CEO of Staffbase, stated that the company provides enterprise organizations with a leading digital platform for effective employee communications.
He emphasized the rapid expansion of the platform and highlighted how the partnership with General Atlantic will accelerate growth, particularly in North America.
Dr. Christian Figge, managing director at General Atlantic, commented on Staffbase’s position as a global pioneer.
He noted the company’s software specifically addresses the employee experience, aiding enterprises in transforming internal communications and engagement.
Dr. Figge also praised Staffbase as an example of the high-quality entrepreneurship and innovation emerging from Germany.
Global Presence
Staffbase currently employs 450 individuals across 11 locations worldwide.
These locations include offices in London, New York, Vancouver, Amsterdam, and Berlin.
Mike Butcher
Mike Butcher: A Profile of a Leading Tech Voice
Mike Butcher, M.B.E., is a highly respected figure in the technology landscape. Previously serving as Editor-at-large for TechCrunch, his journalistic background includes contributions to prominent UK newspapers and magazines.
Recognition and Influence
Wired UK has recognized Butcher as one of the most influential individuals shaping European technology. This acknowledgement underscores his significant impact on the sector.
Speaking Engagements and Interviews
He is a frequent speaker at globally recognized events. These include the World Economic Forum, Web Summit, and DLD conferences.
Butcher’s interviewing experience is extensive and notable. He has engaged in conversations with prominent figures such as Tony Blair, Dmitry Medvedev, Kevin Spacey, Lily Cole, Pavel Durov, and Jimmy Wales.
Broadcasting and Advisory Roles
As a regular media commentator, Mike Butcher frequently appears on major news networks. These include BBC News, Sky News, CNBC, Channel 4, Al Jazeera, and Bloomberg.
His expertise extends to policy advising. He has provided counsel to UK Prime Ministers and the Mayor of London regarding policies related to tech startups.
Additional Roles and Honors
Butcher has also served as a judge on the popular television program, The Apprentice UK.
GQ magazine once included him in their list of the 100 Most Connected Men in the UK, highlighting his extensive network.
Founding Initiatives
He is the co-founder of several impactful organizations:
- TheEuropas.com: A platform showcasing the top 100 European startups.
- Techfugees.com: A non-profit organization focused on supporting refugees through technology.
- TechVets.co: A non-profit dedicated to assisting veterans with technology skills and careers.
- Startup Coalition: An organization fostering collaboration within the startup ecosystem.
Award and Recognition
In 2016, Mike Butcher was awarded an MBE (Member of the Order of the British Empire) in the Queen’s Birthday Honours list. This honor recognized his dedicated services to both the UK technology industry and the field of journalism.