Eloomi, an employee experience solution, today announced a $14 million Series A funding round led by Kennet Partners, a leading London and Silicon Valley based growth equity fund, with participation from existing investor VF Venture hretch.
Eloomi will use this funding to further expand into both its existing UK and European markets and also into the US. This will, in turn, mean that Eloomi will invest in 150 new employees across Denmark, the UK and the US. As part of the transaction Adam Hale will join the board as Chairman. Adam was CEO of Fairsail, a leading HR software business which was sold to Sage in 2017.
Eloomi is a high growth software company based in Copenhagen and London with over 50 employees. Eloomi helps organisations around the world like Sophos, Savills, Lyreco and Harvey Norman, respond to a new diverse workforce reality through a re-imagined learning & performance experience which is designed to deliver growth, engagement and productivity.
User reviews from Capterra by Gartner, show that Eloomi is delivering on the objective, helping employees, managers and central Human Resources manage and measure employee experiences in a more efficient way to impact core HR metrics. The solution is an intuitive, cloud-based platform that can be integrated effortlessly with any existing HR solution.
“Eloomi has been built by the team in Copenhagen from their passion and desire to enhance and change the way organisations see and manage the employee experience. In our experience and from what have learnt over the last few years, organisations who do not align to the demands for today’s diverse workforce will simply lose to the competition and the cost of people will be too high,” said Eloomi founder and CEO Claus Johansen. “We wanted to deliver a solution for mid-sized companies that is simpler, easier and smarter than the competition. The landscape is booming for HR professionals, but no-one other than Eloomi has really solved the main pain points of getting access to a solution that is not complex, is reasonably priced, can be up and running in just days, and can connect directly to any existing core ERP or HR solution. Our customer stories and reviews demonstrate this.”
Hillel Zidel, Managing Director at Kennet Partners, who will join the board as part of the investment said: “We are delighted to support Eloomi in its incredibly exciting expansion story. Eloomi is an innovator in the human capital management category and has built a business with international appeal in a highly capital efficient way. At Kennet, we love businesses that solve real problems, create value and lead their market. Eloomi is doing just that for its clients and their employees.”
Jacob Bratting Pedersen, Partner at VF Ventures, said: “We invested early in Eloomi based on a strong team, revolutionary products and a large global internationalization perspective. Since our initial investment 2 years ago, the company has doubled its revenue every year. We have succeeded in further enhancing the team, and we will of course continue supporting the company both financially in this A round together with Kennet Partners, and on strategic and operational issues. Eloomi will undoubtedly create great changes for many companies that want to be at the forefront of talent management.”
Eloomi is a Copenhagen and London based SaaS Learning Management Platform and People Development tool with focus on the employee experience, that ensure continuous employee development, while engaging and motivating them. Trusted by hundreds of companies worldwide, Eloomi today has more than 350+ customers and half a million users (https://eloomi.com/customers/). Contact is CEO Claus Johansen +45 31316161. See more at www.eloomi.com.
About VF Venture:
VF Venture is the direct investment vehicle of Vaekstfonden partnering with private investors to invest equity in Danish innovative enterprises with global ambitions. Since 1992, Vaekstfonden has cooperated with private investors to co-finance growth for more than 7,300 enterprises, a total investment of more than €3 billion. Contact is Partner Jacob Bratting Pedersen +45 40139244. For more information, please visit www.vfventure.com.
About Kennet Partners:
Kennet Partners is a leading international growth equity firm that invests in companies in Europe and North America. Kennet Partners supports entrepreneurial technology businesses with expansion capital to accelerate growth and build exceptional shareholder value. Kennet Partners is an experienced investor with approximately €1 billion in cumulative funds under management. Kennet Partners Limited is authorized and regulated in the UK by the Financial Conduct Authority. For more information, please visit www.kennet.com.