Risk capital records for start-ups from Saxony

Risk capital records for start-ups from Saxony

Staffbase, a leading provider of digital solutions for international corporate communications, and global development investor General Atlantic have entered into a strategic partnership. The US venture capitalist leads a 122 million euro (US $ 145 million) financing round for the start-up from Chemnitz to support international growth and further expansion of its global leadership position. As part of the partnership, Achim Berg, managing partner at General Atlantic and president of the Bitcom Digital Association, will join the Staffbase Advisory Board. The Saxon company made the announcement on Monday.

Staffbase was founded in Chemnitz in 2014 and has evolved into a rapidly growing provider of employee apps, internal e-mail newsletter tools and modern intranets to improve employee communication. The products are used by more than eight million people in more than 1,000 organizations. Customers include Adidas, Audi, BHP, Deutsche Post DHL and IKEA.

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The staffbase platform enables companies to communicate instantly with all their employees: measuring the effectiveness of communication measures in corporate design, from the creation of messages to the rapid and reliable publication of messages.

One driver for rapid growth is the spread associated with the Kovid-19 epidemic and a hybrid work environment, ie the switch between home office, mobile work and office. This has once again highlighted the importance of targeted and agile internal communication. “Our vision is to bring all employees of a company together through strong internal communication and a common mission,” emphasizes Martin Bohring, CEO and co-founder of Staffbase. And the mission is to build leading digital platforms for employee communication.

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The partnership with General Atlantic aims to help implement this goal, especially in North America. The strong local team in Germany is also decisive, he says. For Christian Figure, the managing director at General Atlantic, Staffbase is an “excellent example” of how broad the base of innovative companies with global ambitions in Germany is.

Following the recently announced merger with the Canadian company Bananatag, the Saxon company has 450 employees at eleven locations, with headquarters in Chemnitz and offices in London, New York, Vancouver, Amsterdam and Berlin.

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