Staffbase becomes a unicorn

The start-up from Chemnitz has developed a digital platform for employee communication - following the new financing round, the company is now valued at over one billion euros.

Staffbase has raised 106 million euros as part of a Series E financing round. The round was led by General Atlantic. The existing investor Insight Partners is also participating. With the new financing, the company is valued at over one billion euros and is now one of the German unicorns.

"Our mission is to provide companies with everything they need to inform their employees and offer dialog," says Martin Böhringer, co-founder and CEO of Staffbase. Transparency and communication are "powerful levers" for increasing employee motivation and commitment. Böhringer developed the communication platform for employees together with Frank Wolf and Lutz Gerlach in 2014. The company, which is headquartered in Chemnitz, now employs around 600 people. In addition to Chemnitz, Staffbase is also represented in New York, Vancouver and London. According to the company, it has more than 13 million users worldwide. These come from Deutsche Post, Adidas and Audi, among others.

The start-up plans to use the new capital to invest 50 million euros next year. Among other things, the money will be used to set up an academy for internal communication and to further develop the Voices conference.