General Atlantic leads $145m round for Staffbase

Harriet Matthews
29 March 2021

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General Atlantic has led a $145m funding round for Germany-based employee communication software Staffbase.

Existing investors including Insight Partners and E.Ventures also backed the funding round. Early investors Capnamic Ventures and Kizoo will remain invested in the business.

The fresh funding is intended to support the company's international growth.

Following the round, Achim Berg, operating partner at General Atlantic, will join Staffbase's board.

The deal is the fifth-largest funding round to be completed in the DACH region in 2021 and is one of the seven rounds of more than $100m to be completed in the region so far this year, according to Unquote Data. In the same period in 2020, only three such "mega rounds" had been completed.

Previous funding
Kizoo led a seed round for Staffbase in 2015.

In June 2016, Capnamic led a €2m series-A round for the company.
E.Ventures led a $10m series-B funding round for Staffbase in June 2018, joined by the company's existing investors.

Insight Partners led a $23m round for the company in July 2019, joined by existing investor Capnamic, Kizoo Technology Capital and E.Ventures.

Earlier in March 2021, the company merged with Canadadian market peer Bananatag, expanding its geographic presence and product portfolio.

Company
Founded in 2014 and headquartered in Chemnitz, Staffbase is a software platform for internal employee communications. The company provides an intranet platform and also operates via an app and allows employers to send messages and news to their employees. The company said in a statement that the business serves eight million employees across 1,000 organisations, which include John Hopkins University, Deutsche Post DHL and Audi. Staffbase employs 450 people across 11 offices.

People
Staffbase – Martin Böhringer (co-founder, CEO).
General Atlantic – Achim Berg (operating partner); Christian Figge (managing director).
Insight Partners – Teddie Wardi (director).