ICG acquires Workhuman minority at $1.2bn valuation

ICG has acquired a stake of 10%, according to The Sunday Times. The deal is expected to provide liquidity to early investors.

The firm is investing from its Europe Mid-Market Fund, which closed on €1bn in January 2020.

Three executives have recently joined the company's leadership team. Chris DeMeo, formerly of Staples, took the role of VP of customer marketing; Patti Fletcher, who comes from SAP SuccessFactors, joins as VP of brand marketing; and Jason Griggs, previously at Workday, takes the reins as senior VP of global sales.

Previous funding
Balderton Capital first invested in an undisclosed round in 2002.

In 2004, Atlas Venture led a $9.3m funding round, with participation from Benchmark.

Company
Based in Dublin, Workhuman is a social recognition and continuous performance management platform founded in 1999. The company forecasts $700m in revenue for 2019, up from $500m in 2018.

People
Intermediate Capital Group - Benoit Durteste (CIO, CEO).
Workhuman - Eric Mosley (CEO).

Advisers
Company – Morgan Stanley (corporate finance).

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• Topics
• Expansion
• UK / Ireland
• Technology
• Exits
• United Kingdom
• Intermediate Capital Group
• Secondary purchase
• Minority investing