Greycroft, U.S. venture capital firm, has recently co-led a funding round of AUD $5 million for Enboarder, Australian-based HR tech firm, alongside VC Our Innovation Fund.
Greycroft, a top-tier US venture capital firm based in New York, counts companies like Acorns, Bird, BetterCloud, the Huffington Post and Thrive Global among its portfolio companies.
Enboarder is the Engagement Onboarding Platform, built to help organizations create engaging onboarding experiences. With employee-focused onboarding experiences proven to increase employee retention and productivity, companies use Enboarder to ensure a rich and consistent onboarding experience for new hires.
The funding round was undertaken to accelerate growth in the US and globally, and to fuel platform development.
It is the second time Our Innovation Fund has invested in Enboarder, having previously led an AUD $2 million raise in 2016. Our Innovation Fund, a $50 million, the early-stage investment fund is backed by some of Australia’s leading entrepreneurs and business builders.
Brent Pearson, Founder, and CEO of Enboarder said onboarding minimizes attrition from all angles.
“Organisations are waking up to the importance of employee experience and realizing that first impressions are crucial. Whilst traditional onboarding focuses on the more procedural, administrative and risk mitigation tasks, today’s talent shortage, low unemployment rates and changing workforce demographics demand a more employee-focused approach, and Enboarder is leading the way,” Mr. Pearson said.
“Onboarding is currently a missed opportunity to accelerate productivity, increase loyalty and develop employer brand. We’re making it easy to not only manage the entire onboarding experience at scale but really wow new hires from the day they sign their offer letter,” he said.
Mr. Pearson said the funding is timely for the Australian-based company.
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