Market Insights

Customer Satisfaction Guaranteed: Friday Dealbook for 9/6/2019

September 6, 2019

Happy September! A shortened week didn’t deter deals from being made, as Arctic Shores closed €5 million on Labor Day, Culture Amp raised a whopping $82 million, and Neura finished it off with a $16 million Series B. This week’s deals are focused on exploring solutions that provide insight into both customer and employee actions and experiences. At the end of the day, companies succeed or fail as a result of employee performance and customer satisfaction, and employers are clearly invested in continually improving customer experiences and obtaining and retaining top talent.

 

The Top Deals Covered by OWI this Week

 

Culture Amp \ cultureamp.com \ Founded in 2010

Provider of people analytics platform designed to offer data-driven insights on employee engagement and company culture. The company’s platform allows an organization to create surveys to gauge engagement within that organization, enabling users to collect, understand and act on employee feedback.

The company raised $82 million of Series E venture funding in a deal led by Sequoia Capital China on September 3, 2019. Felicis Ventures, Index Ventures (UK), Blackbird Ventures, Sapphire Ventures, Grok Ventures, Global Founders Capital, TDM Growth Partners, Hostplus Superannuation Fund and Skip Capital also participated in the round. The funds will be used to expand more deeply within industries and geographic regions that are tackling seismic changes in workplace culture head on, including EMEA, Latin America and Asia.

 

Arctic Shores \ arcticshores.com \ Founded in 2014

Developer of a game based psychometric platform designed to provide psychometric assessments for harnessing neuroscience, AI and gamification. The company’s platform uses big data analytics to create a way for employers to organize psychometric assessments that deliver objectivity, accuracy and fairness in candidate selection through online and app-based gamified psychometric tests for recruitment, enabling human resource teams to improve the quality of hires by up to 40%, and raise positive candidate feedback to over 80%.

The company raised EUR 5 million of Series A venture funding in a deal led by Beringea on September 2, 2019. Candy Ventures and other undisclosed investors also participated in the round. The company intends to use the funding to accelerate the expansion of its international offices and launch an SaaS platform to broaden its product offering to support both enterprise clients and SMEs.

 

Neura \ theneura.com \ Founded in 2013

Developer of a marketing platform intended to provide insights about users past and present actions, as well as predict their future ones. The company’s platform delivers contextually relevant, real-time interactions and personalized customer experiences, at scale, with powerful engagement tools that integrate with mobile marketing stack, enabling clients to be constantly updated of the consumer behavior pattern.

The company raised $16 million of Series B venture funding in a deal led by Pitango Venture Capital and Liberty Technology Venture on September 4, 2019. Amdocs, Moneta and Axan Ventures also participated in the round. The funds will be used to grow the company’s platform and headcount in the U.S. and Europe.

 

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Investor Highlight

 

Beringea \ beringea.com \ Founded in 1988

Description of Investor

Beringea is an investment firm which seeks to invest across a range of sectors such as media, healthcare, life science, internet technologies, advanced manufacturing, clean-tech and specialized consumer goods. The firm was founded in 1988 and has offices in Detroit in the United States, and London and Manchester in the UK.

Active Portfolio – 62

Investments (TTM) – 16

Med. Round Amount – $6.13M 

Med. Valuation – $19.80M

# of Exits – 104

Deal History

In the past year, Beringea has invested in the following 5 identity companies:

Arctic Shores

Exonar

AccessPay

Arrive

Avid Ratings

 

*Source: PitchBook Data Inc. with proprietary keyword searches set by OWI Analysts