CHATTANOOGA, Tenn. and DES MOINES, Iowa — March 16, 2022 — WorkHound, a leader in the employee feedback management space, announced today that it has successfully completed a $12 million Series A fundraising round.
The capital, funded wholly by Level Equity, a New York-based growth equity firm, will be used by WorkHound to add to its employee headcount, expand product offerings, and grow its presence in trucking and additional supply chain verticals.
“Since our 2015 launch, we’ve been able to leverage modest financial investments into sustainable business wins. This is, by far, our most substantial fundraise, and we are well-positioned to use it for our most explosive growth to date,” said Max Farrell, WorkHound CEO. “The timing is perfect to partner with Level Equity. We have a proven business model, our current clients in the trucking industry are using our technology to build stronger, revenue-boosting feedback loops, and businesses in almost every supply chain market are craving the benefits WorkHound can help deliver.”
The fundraising round was backed by Level Equity, a growth equity firm that invests globally in outstanding middle market software and tech-enabled businesses.
“When it comes to leadership and team talent, scalability, and impact potential, WorkHound is the exact type of business we want to call a partner,” said Sarah Sommer, co-founding partner at Level Equity. “They’ve already been able to experience impressive successes by delivering undeniable value to their clients, and we are excited to see how our partnership will help propel them to even greater heights.”
WorkHound was founded in 2015 by Max Farrell and Andrew Kirpalani in Des Moines, Iowa, before adding a second headquarters in Chattanooga, Tennessee. Today, WorkHound boasts a national footprint, powered by a fully remote team.
How WorkHound works: The WorkHound platform enables employers to receive instant and anonymous workforce feedback so management can address those matters as part of their employee retention efforts. Initially, the company focused on the trucking space since driver turnover is a significant pain point experienced across that entire industry. As employee retention needs have spread into additional supply chain markets, WorkHound’s platform and data-backed insights are being sought out on a far larger scale.
WorkHound was founded with the mission of helping people love the work they do. Built specifically for the frontline workforce, WorkHound has given thousands of employees a voice with a real-time, anonymous feedback platform. Through insightful analytics that hone in on business issues, WorkHound has helped companies of all sizes retain frontline workers, boost profitability, and save money. Initially launched in the trucking industry where the average driver turnover rate is 95 percent, WorkHound has expanded its platform to support real-time feedback for all frontline and distributed workers.
About Level Equity
Level Equity is a private investment firm focused on providing capital to rapidly growing software and technology-enabled businesses. Level provides long-term capital across all transaction types in support of continued growth. The firm has raised $3.0 billion in committed capital and has made over 90 investments since its inception.