New York – February 8, 2018 – CultureIQ, the integrated culture management software and strategy platform that powers organizations through culture, today announced that it has secured $2.25 million of additional venture capital in a seed expansion round. This funding will accelerate CultureIQ’s product development and be used to grow its client services team.
The injection of additional capital brings the cumulative amount of venture capital raised by CultureIQ to $7.5 million. This current round of funding includes prior investors Pritzker Group Venture Capital, Lerer Hippeau Ventures and Founder Collective in addition to several new investors.
CultureIQ continues along its path to profitability in 2019 by more than doubling its customer base among enterprise and mid-market clients, with significant customer adoption in the manufacturing, professional services, financial and transportation industries. CultureIQ also added a new data center located in Germany to support numerous new international customers and to further its international expansion efforts.
“Companies are finding that legacy methods for managing culture don’t serve the fast-paced environments of business today,” said Greg Besner, CEO of CultureIQ. “Culture must be approached alongside business strategy. CultureIQ recognizes this need and delivers an integrated, customized partnership that enables businesses of all sizes to strategically measure, understand and strengthen their culture with our best-in-class hybrid of software and human expertise.”
“In order to achieve our business goals, we needed a strategic partner to strengthen and propel our company culture forward,” said Danielle McMahan, Chief Human Resources Officer of York Risk Services Group. “CultureIQ has enabled us to measure our workplace environment, identify gaps and put a proactive plan into action.”
CultureIQ offers an unmatched approach to measuring and strengthening engagement by benchmarking operational culture through ten objective categories, including innovation, mission and value alignment, agility, collaboration, communication, support, responsibility, wellness, performance focus and work environment. By zeroing in on the behaviors, beliefs, interactions and attitudes that determine how things get done within an organization, CultureIQ delivers actionable insight to drive competitive advantage.
CultureIQ helps you leverage employee feedback to measure, understand, and strengthen your culture. Its flexible surveys, intuitive analytics and seasoned strategy team provide unprecedented insight into your organizational culture—plus guidance on where to focus to drive meaningful change. With CultureIQ, you can collect and understand the right data on an ongoing basis, pinpoint opportunities across employee demographic groups, and align your culture with your business strategy. Based in New York City, CultureIQ was founded in 2013 by Greg Besner, an adjunct professor at New York University Stern School of Business and one of the early investors of Zappos.com. The company is backed by a group of notable investors, including Lerer Hippeau Ventures, Founder Collective and Pritzker Group Venture Capital. For more information, visit www.cultureiq.com or follow us on Twitter at @CultureIQ.