ChartHop, the leading innovator in people analytics, has raised $35 million in Series B financing led by Andreessen Horowitz (a16z) and joined by Elad Gil and previous investors Cowboy Ventures and SemperVirens. This investment comes less than a year after Andreessen Horowitz led ChartHop’s $14 million Series A funding in summer 2020.
ChartHop has seen exponential growth since 2019, going from a one-person company to a team of 75. During the same time period, ChartHop built a customer base of over 130 corporate customers and increased month-over-month revenue by 17% for the past 12 months.
This marks a third consecutive investment in ChartHop from Andreessen Horowitz, who also led ChartHop’s seed round in early 2020.
HR Technology News: KnowBe4 Launches New Compliance Plus Training Module
“With HR and people functions so crucial to the growth and success of businesses, it’s unfortunate that most HR teams lack the critical people data to drive organizational decision making,” said David Ulevitch, general partner at Andreessen Horowitz. “ChartHop is the solution to this all-too-common problem, and is built by company leaders who have felt this pain personally.”
“ChartHop’s visual approach to people analytics allows leaders to make organizational planning and strategy decisions with confidence,” said Ulevitch. “We’re thrilled to lead ChartHop’s Series B because of their impressive growth, the company’s vision, and the terrific, mission-oriented team they’ve assembled.”
ChartHop’s innovative approach to people analytics allows companies to aggregate and visualize their HR data, providing alignment, clarity, and context across all levels of an organization. For example, as companies adopt more equitable practices, ensuring compensation changes are tied to actual performance data is critical. Typically, those datasets live in completely separate platforms, making it difficult for leaders to make data-based compensation adjustments. This applies to effective headcount planning, reducing employee turnover, tracking the success of DEI initiatives and so much more.
HR Technology News: Workforce Logiq’s Total Talent Intelligence Platform Now Available In The UK
“Since implementing ChartHop earlier this year, we’ve seen significant improvement in our engagement with talent routines as they’re managed via ChartHop,” said Sara Howe, vice president human resources at ZoomInfo, a customer of ChartHop. “Our employees have found the simple user interface and the centralized view of their data as the most helpful features. Leaders across ZoomInfo have also leveraged ChartHop to ensure that their organizations are well structured to support our continued rapid growth.”
ChartHop will use this capital infusion to continue the rapid expansion of the business through product enhancements, investments in service and support, and growth in go-to-market capabilities.
“ChartHop customers have access to something that’s usually impossible to obtain: accurate, consolidated people data,” said founder and ChartHop CEO, Ian White. “But data is only as useful as it is accessible. That’s why we’ve made the data available through familiar visualizations like org charts, reports, and maps, and available to the whole organization, securely.”
HR Technology News: UST Extends A Helping Hand Amidst The COVID-19 Pandemic In India