Staffbase becomes a unicorn

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

In a Series E financing round, Staffbase has raised 106 million euros. The round is led by General Atlantic. Existing investor Insight Partners is also participating. With the new funding, the company is valued at over one billion and is now one of Germany's unicorns.

"Our mission is to give companies everything they need to inform their workforce and offer dialogue," said Martin Böhringer, co-founder and CEO of Staffbase. Transparency and communication are "powerful levers" to increase employee motivation and engagement. Together with Frank Wolf and Lutz Gerlach, Böhringer developed the communication platform for employees 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 include Deutsche Post, Adidas and Audi.

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