Peakon raises another $35M in latest Atomic-led funding round

Denmark-based employee retention program, Peakon, has recently secured another $35 million in a recent "Series B extension" funding round.

The investment is led by European venture capital firm Atomico, with backing from existing investors, including EQT Ventures, IDInvest Partners, Balderton Capital, and Sunstone.

Originally offering “people analytics” by enabling companies to more regularly survey employees, Peakon has since evolved to become a fully fledged SaaS for employee retention. It claims to now tackle three critical areas. They are employee engagement, actionable insights to prevent employee problems before they arise, and competitor analysis through benchmarking employee engagement data against Peakon’s proprietary industry-wide data.

Peakon’s surveys are designed to be both fast and conducted weekly, rather than annually (as is the traditional way of surveying employees). They also adhere to standardised questions so as to enable industry wide comparisons. This means that companies using the employee retention software can not only get a more immediate feel for how engaged employees are at any given moment, but also use that data to drive operational decisions and competitor analysis.

For example, Peakon claims to be able to predict when certain employees are in danger of leaving 250 days in advance of doing so. As hiring gets increasingly competitive, this heads up is crucial as it theoretically provides enough time for management to attempt to prevent critical employees from leaving.

Read more here.

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