ChangeEngine, a San Francisco, CA-based internal marketing and people design platform, has raised $10 million in Series A funding.
Investors
The round was led by Threshold Ventures and joined by Struck Capital and Bonfire Ventures.
Founded in 2014, Threshold Ventures is a venture capital firm based in Menlo Park, California. The firm primarily invests at the Series A and Series B stages, with the vast majority of its investments in two areas: software and software-enabled companies serving customers in healthcare and business.
Josh Stein and Adam Struck have joined ChangeEngine's Board of Directors.
ChangeEngine Use of Funds
The company plans to utilize the funding to fuel growth across various key areas. Firstly, it aims to bolster its hiring efforts across all departments globally, strategically recruiting top talent to support its expansion. Additionally, a significant portion of the funding will be allocated to platform innovation.
ChangeEngine intends to enhance its platform with features such as people analytics, manager insights, improved AI workflows, employee recognition, and self-signup tools.
About ChangeEngine
Founded in 2021 by Andrew Higashi, Kes Thygesen, Gaurav Saini, and Rick Tank, ChangeEngine is a 'future of work' company that enables individuals and teams to discover, design, and execute employee-facing initiatives. With ChangeEngine, companies can attract and retain top talent, increase the adoption of key employee initiatives, and save hundreds of hours via internal communications automation.
Funding Details
Company: ChangeEngine
Raised: $10.0M
Round: Series A
Funding Month: May 2024
Lead Investors: Threshold Ventures
Additional Investors: Struck Capital, Bonfire Ventures
Company Website: https://www.changeengine.com/
Software Category: HR and People Software
Source: https://www.prweb.com/releases/changeengine-secures-10-million-series-a-funding-to-bring-ai-powered-cx-innovation-to-the-employee-experience-302138701.html