Workhuman announces new strategic investor; continues strong growth trajectory in 1H 2020
Company now valued at $1.2B, sees impressive adoption of new product offerings and helps to support new ways of making human connection during a global pandemic; Company adds three seasoned executives from SAP, Staples and Workday to leadership team
June 23, 2020 – Workhuman®, the world’s fastest-growing social recognition and continuous performance management platform, has announced that London-based alternative asset manager Intermediate Capital Group (ICG) has become an investor in the organisation, as part of its European investment strategy, acquiring a minority stake in the company from existing shareholders. Morgan Stanley acted as exclusive financial advisor to Workhuman in a highly competitive process. The transaction values Workhuman at $1.2 billion.
In the first half of 2020, Workhuman has furthered its mission of unlocking the business impact of human connection in the workplace, particularly as many organisations have instituted work-from-home protocols during the COVID-19 pandemic. The latest version of Workhuman’s suite of human applications adds new technology innovations and introduced Moodtracker™, an always-free voice of employee solution that focuses on making real changes within organisations. In addition, Workhuman began offering special editions of two of its Workhuman Cloud products - Life Events® and Conversations® – free for any organisation to use through March 2021. In the first half of the year, more than 300,000 employees have started taking advantage of Workhuman’s Social Recognition and Life Events offerings.
“We are excited to welcome ICG as a strategic investor, while providing liquidity to some of Workhuman’s earliest supporters,” said Eric Mosley, Workhuman co-founder and CEO. “ICG’s support helps put us on a great path forward as we get ready for the next phase of Workhuman’s growth. If the COVID-19 pandemic has taught us anything, it’s that we all need human connection. Our continued double-digit growth and ongoing business momentum is a sign that organisations are craving a way to build better relationships and foster trust with their employees, no matter where they are.”
“Workhuman is a truly unique HR platform provider that we are excited to be in partnership with,” said Benoit Durteste, CIO and CEO of ICG. “The business’s historic performance is testament to the results it delivers for clients and their employees, reaching organisations in more than 160 countries. In the past couple years, and even more so as a result of the COVID-19 pandemic, organisations have begun to realise the power and value of their people and have been forced to innovate and thrive in new ways. Workhuman provides them with progressive tools to understand, engage with and better utilise their employees in ways they never could before.”
As part of Workhuman’s strategy to drive growth, three accomplished executives have recently joined the company’s leadership team. Chris DeMeo, formerly of Staples, took the role of VP of customer marketing; Dr. Patti Fletcher, who comes from SAP SuccessFactors, joins as VP of brand marketing; and Jason Griggs, previously at Workday, takes the reins as SVP of global sales.
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