Cork-headquartered workplace communications start-up Workvivo has secured major funding in a €14.7m round led by Tiger Global.
As the world becomes increasingly reliant on remote working during the coronavirus pandemic, an Irish start-up providing a workplace communications tool has caught the eye of investors. Cork-based Workvivo announced today (14 May) that it has secured €14.7m in Series A funding led by Tiger Global with participation from Frontline Ventures and Enterprise Ireland.
The company said that the funding will allow it to further its global expansion, as well as accelerate product development. Workvivo expects to break the 1m user count on its platform by 2021.
While it is a standalone platform, Workvivo’s product also integrates with many of the most common platforms on the market. It works similarly to Facebook, but for internal company communications, where employees can read and post content to an activity feed, as well as like, share and comment in the feed.
‘Tremendous success to date’
Netgear, Telus International and Cubic Telecom are among a number of companies using Workvivo’s platform which, as of the end of last year, had users in more than 40 countries. The Cork business was founded three years ago by John Goulding and Joe Lennon.
Speaking of the funding, Workvivo CEO Goulding said: “The move to remote working has been significantly accelerated by recent events. It’s now more important than ever that employees are able to effectively communicate and remain engaged with each other and with the business.
“We have experienced tremendous success to date and this funding will allow us to expand our reach significantly to help organisations across the globe, while also allowing us to continue to invest strongly in ongoing product development.”
Last month, Workvivo opened a new office in California as it aims to accelerate expansion in the North American market.
Among the company’s notable investors is Eric Yuan, founder of the video conferencing giant Zoom that became a household name almost overnight as millions began working from home as a result of the coronavirus pandemic.