Toronto’s ContactMonkey is on a roll.
The internal email communications platform was recently named to Deloitte’s Fast 50 and Fast 500 list and the Globe and Mail’s list of Canada’s Top Growing Companies.
This week they announced the completion of a $55 million Series A investment from Updata Partners, a leading growth equity firm.
ContactMonkey is a one-stop solution for connecting and engaging employees from anywhere. The platform seamlessly integrates with users’ preferred email client, including Microsoft Outlook and Gmail as well as SMS, Microsoft Teams, and Human Resource Information Systems (HRIS) such as Workday, ADP, SAP and more.
This versatility empowers communicators to reach every corner of their organization, ensuring that essential company announcements, life-saving alerts, and critical updates are delivered promptly to all employees.
The $55 million investment will help ContactMonkey double down on its success in Canada, Europe, the US and Australia, by growing its workforce.
The company has 80 current employees and expects to double this number in 2024.
“At ContactMonkey, we believe it is vital that companies improve their communications with their employees and facilitate a strong, collaborative, and transparent culture, even across remote workplaces and disparate teams,” said Scott Pielsticker, CEO and Founder, ContactMonkey.
RELATED: ContactMonkey is hiring in Toronto
“We’re looking forward to partnering with the Updata team to grow our teams and solutions as more companies realize how critical their internal communications are to their business.”
The funding comes as employee engagement is more critical to enterprises than ever: the BBC reported that 59% of global workers report being not engaged at work, which can lead to “quiet quitting.” A Gallup report found that disengaged employees cost the global economy around $8.8 trillion.