World’s first and only experience-driven onboarding platform attracts new investment from Greycroft and plans to more than double revenue
Enboarder, the leading cloud-based HR technology company that helps employers create engaging employee onboarding experiences, announces it 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 roles. With purposely designed but adaptable journeys based on people experience data, Enboarder delivers intelligent nudges and personalized communications for buddies, managers, leaders and employees, enabling businesses to drive change, when and where it matters most.
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 that boost employee happiness, productivity and retention.
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Enboarder’s Series A funding comes on the heels of the company’s rapid growth and explosive client wins. Enboarder’s corporate client portfolio now includes Gap, Verizon, Wyndham and, most recently, Compass, the 10,000-employee real estate brokerage firm that has taken the industry by storm.
“The HR tools that most businesses rely on today were built for a world that no longer exists,” said Brent Pearson, CEO and founder 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 commented on the VC’s latest investment saying: “Companies that do not 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. The platform also extends to other parts of the employee journey and enables the experience employees have come to expect. 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.”
“Enboarder is changing the way businesses onboard,” said Thomas Ball, co-founder and managing director of Next Coast Ventures. “Employee expectations are higher than ever and Enboarder is helping companies really own and drive personalized onboarding experiences at scale. We are proud supporters of Enboarder and the experience-driven onboarding revolution they are igniting.”
Jay Po, Managing Partner at Stage 2 Capital weighs in on why the firm participated in the round: “Employee happiness is critical in today’s competitive talent market and 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.”
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.