Irish technology company Workhuman has announced that London-based alternative asset manager Intermediate Capital Group (ICG) has become an investor in the organisation, as part of its European investment strategy, acquiring a minority stake in the company from existing shareholders. Morgan Stanley acted as exclusive financial advisor to Workhuman in a highly competitive process. The transaction values Workhuman at $1.2 billion.
Workhuman, the world’s fastest-growing social recognition and continuous performance management platform, develops pioneering technology to make employees feel more appreciated and socially connected at work, creating happier and more productive workplaces for some of the world’s biggest organisations including LinkedIn, Procter & Gamble, Cisco and Eaton. Over five million employees around the world are on Workhuman’s platform, across 160 countries.
Workhuman continues to support organisations globally in building human connections and increasing productivity in the workplace, even during the COVID-19 pandemic. In the first half of the year, more than 300,000 employees have started taking advantage of Workhuman’s Social Recognition and Life Events cloud products. The company has built out its suite of human applications with new features in existing products, and introduced Moodtracker™, an always-free employee survey platform that focuses on making real changes within organisations. In addition, Workhuman is offering special editions of two of its Workhuman Cloud products – Life Events® and Conversations® – free for any organisation to use until March 2021.
“We are excited to welcome ICG as a strategic investor, while providing liquidity to some of Workhuman’s earliest supporters,” said Eric Mosley, Workhuman co-founder and CEO. “ICG’s support helps put us on a great path forward as we get ready for the next phase of Workhuman’s growth. If the COVID-19 pandemic has taught us anything, it’s that we all need human connection. Our continued double-digit growth and ongoing business momentum is a sign that organisations are craving a way to build better relationships and foster trust with their employees, no matter where they are.”
“Workhuman is a truly unique HR platform provider that we are excited to be in partnership with,” said Benoit Durteste, CIO and CEO of ICG. “The business’s historic performance is testament to the results it delivers for clients and their employees, reaching organizations in more than 160 countries. In the past couple years, and even more so as a result of the COVID-19 pandemic, organizations have begun to realize the power and value of their people and have been forced to innovate and thrive in new ways. Workhuman provides them with progressive tools to understand, engage with and better utilize their employees in ways they never could before.”
As part of Workhuman’s strategy to drive growth, three accomplished executives have recently joined the company’s leadership team. Chris DeMeo, formerly of Staples, took the role of VP of Customer Marketing; Dr. Patti Fletcher, who comes from SAP SuccessFactors, joins as VP of Brand Marketing; and Jason Griggs, previously at Workday, takes the reins as SVP of Global Sales.
For more information about Workhuman, please visit www.workhuman.com.