EQT Ventures et al. sell Peakon to trade for $700m

With the acquisition, Workday will provide its customers with a "continuous listening" platform, offering real-time visibility into employee experience, sentiment, and productivity.

Since being founded in 2015, Peakon has raised around $68m from investors including EQT Ventures, Atomico, Idinvest Partners, Balderton and Heartcore.

EQT Ventures, its biggest shareholder, first invested in the company in a series-A round in 2015. Partner Lars Jörnow said that Peakon "has proven to be a very positive investment for EQT Ventures".

The deal is subject to regulatory approval and is due to close by the end of April 2021.

Previous funding
Peakon initially secured €1m in 2015 from European and US entrepreneurs including Gumtree's Doug Monro. It raised €4m in funding from VC firms Idinvest and Sunstone Capital in January 2016 when it launched officially.

Balderton in February 2018 led the first part of the company's series-B round alongside EQT Ventures, Idinvest and Sunstone.

In 2019, Atomico led a €30m series-B extension for Peakon, bringing the total value of Peakon's series-B to €48m.

Company
Founded in 2015 and headquartered in Copenhagen, Peakon makes employee survey software to help companies collect data on employee feedback.

People
EQT Ventures – Lars Jörnow (partner).
Peakon – Phil Chambers (CEO).
Workday – Aneel Bhusri (CEO).

Advisers
Workday – Orrick (legal); Bech-Bruun (legal).
Vendor – Wilson Sonsini Goodrich & Rosati (legal); Osborne Clarke (legal); Highbridge (legal).

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• Topics
• Exits
• Nordics
• Technology
• Denmark
• Trade sale
• EQT Ventures
• Balderton Capital
• Sunstone Capital A/S
• IDInvest Partners (AGF Private Equity)
• Atomico