SAN BRUNO, Feb. 20, 2018 (GLOBE NEWSWIRE) -- Dynamic Signal, the leading Employee Communication and Engagement platform, today announced it has raised $36.5 million in growth financing, bringing the company’s total funding to $88 million. Participants in this round include Adams Street Partners, Akkadian Ventures, Cisco Investments, Focus Opportunity Fund, Founders Circle Capital, Microsoft Ventures, Rembrandt Venture Partners, Time Warner Investments, Trinity Ventures, and Venrock. The new funding will help drive company growth and innovation to expand the platform’s capabilities, further providing a solution to the urgent business problem of connecting with the most valuable assets of the enterprise, employees.
“Employees are an organization's most valued asset and communication with them is mission critical. But in today’s enterprise, communication is broken,” said Dynamic Signal CEO and co-founder, Russ Fradin. “Technology has changed the way we consume information. Eighty-five percent of U.S. adults now get their news on a mobile device, and more than 50 percent of the U.S. workforce does not have a corporate email address. The rapid adoption we’ve experienced is evidence that organizations recognize how significantly employee expectations for communication have radically outpaced enterprise communication practices. We’re proud to be leading this $5 billion market by providing the most comprehensive Employee Communication and Engagement Platform available today.”
More informed employees outperform their peers by 77 percent, but only 14 percent of communicators are confident in their ability to measure their efforts to inform employees (CEB, now Gartner). To solve this, Dynamic Signal modernizes, streamlines and measures all types of employee communication, those created in the platform and those originating in the many integrations already supported by Dynamic Signal - including widely used systems of record (HRIS, CRM, SSO, Identity Management, etc.), Intranet providers and collaboration/social networking tools such as Facebook, Slack and Yammer. The investment will fund an expansion of Dynamic Signal’s product functionality and deeper integrations with enterprise systems.
Additionally, this round of growth capital will support the company’s aggressive hiring plans which include staffing newly established Seattle and Chicago offices, as well as growing existing offices in London, New York, and Silicon Valley. Dynamic Signal expects to more than double its headcount in 2018 to meet the growing market demand for its leading employee communication and engagement platform.
Further, the company also announced the board appointment of Robin Murray from Adams Street Partners, and board observer Donald Tucker, from Cisco Investments.
“Work has changed, making the collaboration market even more important to Cisco,” said Rob Salvagno, Cisco Vice President and Head of Corporate Development and Investments. “We are always looking for innovative companies that are creating technology to improve work, enhance employee performance and drive business impact. We recognize the urgent need for Employee Communication and Engagement Platforms among our own customers and the world at large, so we’re thrilled to invest in Dynamic Signal, and further our commitment to meeting the business needs of the enterprise.”
In just the last year, Dynamic Signal has seen 3x growth in the number of users and a 70 percent increase in engagement on its platform, now reaching employees in over 100 countries on six continents.
Additionally, Dynamic Signal today announced:
“Bringing Essilor’s mission of improving lives by improving sight to life wouldn’t be possible without the full engagement of our employees - our most valued asset. Creating alignment around this mission and our business strategy is how we make the difference every day for both the company and our customers.” said Lina Betancourt, Essilor of America’s Employee Communications Manager. “We’re focused on meaningful, direct employee communication that is measurable and delivered in a way that is convenient for employees to consume whenever and wherever they’d like. By leveraging Dynamic Signal’s Employee Communication and Engagement Platform, we are able to modernize, streamline, and measure the way we reach and engage employees, and Dynamic Signal surveys allow us to see how we’re really moving the needle to ensure the employee experience at Essilor is best-in-class.”
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/b80e9b3d-4fac-43e0-8899-5eacd5adbca4
Robyn Hannah Dynamic Signal 4088233863 firstname.lastname@example.org Beth Cleveland Praytell 4152837333 DySi@praytellagency.com