Split Rock Partners leads $12 mln round for VoloMetrix
VoloMetrix, a Seattle-based people analytics software firm, has closed $12 million in Series B funding. Split Rock Partners led the round with participation from Shasta Ventures. In conjunction with the funding, Jim Simons, founder and managing director at Split Rock Partners, has been appointed to the VoloMetrix board of directors.
SEATTLE, WA—Oct 13, 2014 – VoloMetrix, a leading people analytics software company that provides actionable insights to improve organizational productivity, today announced it has secured $12 million in Series B funding led by Split Rock Partners to further accelerate the company’s growth. This latest round of funding will be used to expand product development, hire additional staff and drive strategic initiatives and go-to-market approaches. Existing venture capital firm Shasta Ventures participated in this latest round of funding that brings the company’s overall funding to $17 million.
“This investment validates our vision of providing businesses with unparalleled visibility into how work is conducted within their organizations. The success of a business depends heavily on the people that come to work each day, and yet many companies don’t have a way to fully understand or measure productivity,” said CEO and founder of VoloMetrix, Ryan Fuller. “As we look ahead towards future growth, this funding positions VoloMetrix to capitalize on our momentum and help more enterprises use People Analytics to improve performance across their organization and with their customers.”
While many companies currently use real-time, external customer analytics to inform business decisions, VoloMetrix’s technology applies its sophisticated analytics internally to company-gathered data on employee behaviors and the company’s social graph. The anonymous and aggregated data extracted from company emails and calendars illuminates organizational health issues and provides actionable insights for sales, customer satisfaction and employee attrition. Once companies know how time is spent, they can analyze trends and develop business objectives to help streamline and improve performance.
As part of the financing, Jim Simons, founder and managing director at Split Rock Partners will join the VoloMetrix Board of Directors to provide ongoing strategic guidance to the company’s leadership team. He currently serves on the Boards of Directors at eBureau, Guardian Analytics, InsideView, QuinStreet (NASDAQ: “QNST”), TruSignal, and Vormetric and is a Board Observer at Intacct and Janrain.
“With its people analytics solution, VoloMetrix is revolutionizing how businesses conceive of management and productivity,” Simons explained. “Enterprises are ready to turn data analytics inwards to diagnose inefficiencies and better predict performance, and VoloMetrix’s quality of company-generated data is unprecedented. Their data actually predicts and improves business outcomes.”
Since its founding in 2011, VoloMetrix has helped medium-large enterprises understand how everyday decisions drive tangible business results. VoloMetrix’s clients consist of Fortune 100 companies, including Symantec, Genentech and Seagate that have chosen VoloMetrix to create actionable metrics around their company’s everyday processes.
VoloMetrix is a people analytics technology company that uses big data to optimize organizational performance, providing executives visibility into the daily activities and relationships that propel business forward. VoloMetrix’s technology helps improve companies’ organizational alignment, drive sales, and promote employee engagement. Working with Fortune 100 companies, VoloMetrix extracts and analyzes anonymous aggregated collaboration data to reveal unprecedented insights into how employee behaviors drive business outcomes. For more information, please visit: www.volometrix.com.
About Split Rock Partners
Split Rock Partners, with offices in Minneapolis and Menlo Park, invests in leading software and Internet services companies. Since 2005, Split Rock has raised $575 million over two funds. Split Rock supports exceptional teams across all stages of company development with flexible capital spanning both primary and secondary investments. Representative companies backed by Split Rock’s team include Acquia, Black Duck Software, BlueKai, Code42, Compete, Demandbase, eBureau, HireRight, InsideView, Intacct, Janrain, LowerMyBills, MyNewPlace, QuinStreet (Nasdaq: QNST), Snagajob, SPS Commerce (Nasdaq: SPSC) and Vormetric. Additional information about the firm can be found at www.splitrock.com.