Amsterdam, 20th May 2020 - Social intranet platform Happeo announces to have raised $12M in a Series A funding round led by INKEF Capital. Happeo’s previous investors DN Capital, Maki.vc and Vendep Capital also joined the round. This new investment will enable Happeo to accelerate its product development and grow its teams in the Netherlands, Finland, Romania and the United States.
Happeo’s platform solves a common problem with intranets: low usage rates. As one of the only vendors in its industry, Happeo has been able to develop a platform with outstanding usage metrics, noticeable through its high Daily Active Use/Monthly Active Use ratio – the industry-standard metric for social-enabled platforms. For the past twelve months, Happeo’s average sits at 50%, which is on par with the world’s most popular web apps. Additionally, the social intranet platform has seen an increase in average daily messages sent within the platform, going from 500,000 to over 2.5 million in the first quarter of this year, as companies increasingly rely on a remote workforce.
Happeo’s advantage, according to CEO and Founder Perttu Ojansuu, is that “Beyond providing a platform that bridges remote communication and collaboration together, we are end-user obsessed. This created our user-first design philosophy, which is our main competitive advantage.”
Kyang Yung, Director at INKEF Capital says; “From the first moment that we met the Happeo team, we have been blown away by their drive to disrupt the intranet industry. Happeo has been able to deliver usage metrics which are truly unrivalled in the space. We look forward to working with this team of seasoned operators and supporting them in leading the way to a new kind of social intranet.”
The funding round will enable Happeo to further expand its unconventional approach to internal communications, which manifests itself in deep integrations with leading workplace-communication tools such as Slack and G Suite. The company will also integrate with Zoom in the coming months, creating a holistic spectrum of digital communication tools where employees discuss, meet, share files and work with business apps.
About Happeo
Happeo is the community-powered employee communications platform that acts as a company’s news stream and enterprise social network, combined into a branded intranet environment. We enable your business communications to flow seamlessly, making work a happier place for all.
Business success in today's world depends on talent and a company’s ability to build and maintain a high-performing digital culture – a place where employees lead the conversation, share information freely and fuel business growth. Large enterprises and fast-growing organizations like the Tide Cleaners, State Auto and Randstad Sourceright use Happeo to engage, align, and retain more than 300,000 employees worldwide.
In 2019, Gartner named Happeo a Cool Vendor. That same year, The Next Web recognized Happeo as one of Europe's fastest-growing scale-ups. Happeo’s own talent is spread across locations, generations, and time zones, helping Happeo’s continued growth of 280% year on year. To learn more visit Happeo's website.
About INKEF Capital
INKEF Capital is a venture capital firm based in Amsterdam, backing promising early-stage companies in Europe. INKEF takes pride in being a patient, long-term investor with the ability to support companies through several rounds of funding. From the early stages of a technology or life science venture, INKEF Capital supports entrepreneurs building their ideas into successful international businesses.
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