June 26, 2019 – Enboarder, the cloud-based HR technology company that helps employers create employee onboarding experiences, has closed $8 million in Series A financing. Greycroft, who participated in Enboarder’s previous funding round of $4 million, is the lead investor in the new Series A investment, which brings Enboarder’s total funding to $12 million. New investors, Next Coast Ventures and Stage 2 Capital also participated in the round.
Unlike traditional onboarding software designed primarily to relieve HR of operational processes, Enboarder delivers personalized experiences and drives human connection well before new starters even begin their role. With purposely designed but adaptable journeys based on people experience data, Enboarder delivers intelligent nudges and personalized communications for managers, leaders and employees, enabling businesses to drive change.
Since launching in 2015, over 200 global companies, including McDonald’s, Hugo Boss, EA Games and Eventbrite, have used Enboarder to deliver consistent onboarding experiences.
Enboarder’s Series A funding comes on the heels of the company’s rapid growth and client wins. Enboarder’s corporate client portfolio now includes Gap, Verizon, Wyndham and, most recently, Compass, the popular real estate brokerage firm, which has 10.000 employees.
“The HR tools that most businesses rely on today were built for a world that no longer exists,” said Brent Pearson, founder and CEO of Enboarder. “We’re living in an experience era and yet we welcome new hires with a process. 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 at Enboarder.”
Greycroft principal, Will Szczerbiak said that companies that fail to adopt solutions to power an exceptional employee experience will lose the war for talent. “Enboarder sits right at the center 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,” he added. “Customers absolutely love it, the team is terrific and has executed flawlessly since we joined the seed in 2018, and we feel strongly that Enboarder will become the category leader of this emerging part of the HR tech stack.”
Thomas Ball, co-founder and managing director of Next Coast Ventures, said Enboarder is changing the way businesses onboard. “Employee expectations are higher than ever and Enboarder is helping companies really own and drive personalized onboarding experiences at scale,” he said. “We are proud supporters of Enboarder and the experience-driven onboarding revolution they are igniting.”
Jay Po, managing partner at Stage 2 Capital, explained why his firm participated in the round, saying that employee happiness is critical in today’s competitive talent market and that it starts with onboarding. “We’re thrilled about the value Enboarder is bringing to the market and are looking forward to working alongside the team to continue scaling,” he said.
Enboarder is planning to double the size of its team in the next 12 months, with the Series A investment going towards building out the company’s sales, marketing, customer success and product functions.
Investors are pouring money into recruiting solutions businesses, especially those with an AI component. Here’s a look at some recent funding deals secured by these companies from the Hunt Scanlon Media archives:
Talent acquisition platform SmartRecruiters has raised a $50 million series D round, led by repeat investor Insight Partners and joined by long-time investors Mayfield and Rembrandt Venture Partners. The round follows a year marked by strong performance, including 100 percent year-over-year enterprise growth and the launch of SmartAssistant…
humanpredictions, a machine learning technology company, has received a $1.16 million funding round led by Network Ventures with additional investment from Hyde Park Angels, SaaS Ventures and M25. The new capital is targeted to help humanpredictions further grow and invest in its team of engineers and data scientists.
Hireology, a Chicago-based recruitment management platform, closed $27 million in series D financing led by Blue Cloud Ventures, with full participation from current investors Bain Capital Ventures and Baird Venture Partners, as well as Silicon Valley Bank. The funds will be used to accelerate the company’s growth in new market verticals and to create features that further differentiate its product offering.
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; Stephen Sawicki, Managing Editor; and Andrew W. Mitchell, Managing Editor – Hunt Scanlon Media