Index Ventures has backed a startup whose HR platform is being used by the likes of Uber and Airbnb to retain staff.
The venture capital firm, which has €2 billion (£1.45bn) at its disposal and a large office in London's Mayfair, announced today that it is the lead investor in a $6.3 (£4.1 million) Series A round.
Culture Amp claims that it uses psychology, statistics and user experience in its platform in order to to create data-driven human resources insights.
The startup said its platform is already used by hundreds of the world's fastest-growing companies, including Airbnb, Uber, Etsy, Pinterest, Adobe, Squarespace and MOO.
Paul Jones, people director at Moo, said he is carrying out employee surveys with the Culture Amp platform that provide “truly valuable insights”.
“Using this technology has enabled us to garner feedback from the people who operate in and are the heart of Moo, enabling us to build on what’s working, and course correct where needed," he said. "It’s a must for any People/HR function looking to add some gravitas to their people analytics function.”
Index Ventures partner Neil Rimer said he believes the Culture Amp platform can be used by business leaders to take the pulse of their staff.
“An engaged employee is a retained employee, and nothing is more important to the long-term success of a company than keeping its best talent,” he added.
Didier Elzinga, Culture Amp CEO and cofounder, said his company has grown largely through word-of-mouth. “With this investment, we want to accelerate development of our technology, and expand our marketing and sales efforts, so we can continue to provide the most insightful platform available for company culture and people analytics.”
The Culture Amp team are spread across offices in San Francisco and Melbourne.
Recent Culture Amp data reveals that 69 percent of employees are motivated to go “above and beyond” in their work role. However, among the top five percent of companies that perform highest across all key drivers and engagement indicators, that rises to more 90 percent of employees.
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