MOUNTAIN VIEW, Calif., Jan. 25, 2022 /PRNewswire/ -- Humu, the HR technology company combining behavioral science and technology to help employees build better habits at work, today announced $60 million in Series C funding. The round was led by TCV, one of the world's leading growth equity firms, with additional investors from Humu's previous funding rounds including Index Ventures, IVP, and SVB Capital, and new investors Global Founders Capital and Blue Ivy Ventures. The investment will fuel new product innovations focused on supporting managers and their teams. TCV venture partner Jessica Neal, former Chief Talent Officer at Netflix, will join Humu's Board of Directors as part of the partnership.
The investment follows 10x growth in users over the past two years. Humu, whose platform coaches managers and employees into developing work habits that are scientifically proven to drive performance, has emerged as the leading force in HR technology as companies evolve their people-management strategies in the new age of work. By nudging teams with short, science-backed recommendations, Humu provides personalized guidance that is unique to each employee and also aligned with company goals. With Humu, customers see improvements in retention, manager effectiveness, team performance, and inclusion.
"Humu, through technology and science, can help shift behavior in an organization," said TCV Venture Partner Jessica Neal and board member at Humu. "Its ability to provide individualized support to employees and managers that can scale across an entire organization and drive outcomes that HR leaders care about is truly unique. Employees who are actively engaged with Humu have shown to be significantly less likely to leave their jobs, effectively lowering retention risks for companies. Feedback from customers is that Humu has become invaluable to their HR efforts. This is not generally the sentiment with HR technology."
"As a firm that focuses on long-term value creation, TCV believes that Humu with its deep background in people analytics, has the potential to make a positive, and large, impact on the way we all work," continued David Eicher, Partner at TCV.
With this latest round of funding, Humu will take steps towards executing its bold vision of making it easy for every organization to build a unique, high-performing culture, based on proven best practices. This vision, which includes manager-focused product developments and an expansion of Humu's footprint within enterprise customers, will be fueled by hiring for roles within product development, commercial, and science teams.
"When we began this journey in 2017, we knew our experience in pioneering the field of people analytics would help us build the best technology for supporting managers and employees, and we're proud of the impact we've made," noted Humu CEO Laszlo Bock. "This latest investment, led by TCV, signals our partners' confidence in our ability to deliver on that promise long into the future, and we're excited for what we'll bring to the market, especially for managers, in the months to come."
As companies continue to navigate uncertainty and transform how (and where) work happens, employees will need more personalized, targeted support than ever. Managers in particular play an increasingly important role in connecting employees with the vision of the C-suite. According to data from Humu, teams are 80% more likely to make improvements when they see their manager taking action. And during the pandemic, employees with a manager who offered them personalized support and development opportunities were 7.9x more likely to stay at their jobs. But this added responsibility has left managers struggling to balance team workloads, boost performance, and combat burnout. Against this backdrop, Humu is enabling managers and employees to engage more quickly, honestly, and constructively, so that they can make work better for themselves and their teams.
By increasing its ability to support managers, Humu will further help companies improve team performance. Specifically, its platform pinpoints the most important habits managers and employees should develop to hit company goals, and then nudges teams into practicing those exact behaviors in their day-to-day work. By combining behavioral science best practices with technology, it empowers leaders to support their people in a way that's modern and measurable.
Humu works with companies like Expedia Group, Kickstarter, and sweetgreen to deliver timely, personalized, and relevant coaching so that managers and employees can do their best work every day. For more information or to view open positions, visit humu.com.
About Humu
Humu is an action management platform that makes it easy for employees to improve, every single week. Science shows that the fastest path to improvement is via personalized coaching in the flow of work. That's exactly what Humu does. Humu nudges managers and their teams to build the specific habits that will lead to their organization's success. Unlike most tools, Humu combines Nobel-prize winning science and technology to pinpoint which behaviors and people skills leaders, managers, and employees need to be effective. Humu helps customers drive outcomes like improving managers, increasing agility, building more inclusive cultures and boosting team performance.
For more information about how Humu can help your employees, please visit humu.com/web-demo
About TCV
Founded in 1995, TCV was established with a clear vision: to capture opportunities in the technology market through a specialized and consistent focus on investing in high-growth companies. Since inception, the firm has built a track record of successfully backing private and public businesses that have developed into dominant industry players across internet, software, FinTech, and enterprise IT. TCV has invested over $16 billion to date, including $3 billion in fintech. TCV has helped guide CEOs through more than 145 IPOs and strategic acquisitions. TCV has invested in cutting edge technology companies including Airbnb, Brex, HireVue, Klarna, LinkedIn, Mambu, Miro, Mollie, Netflix, Payoneer, Peloton, Revolut, Trade Republic, Spotify, Wealthsimple, and more. TCV has successfully executed over 350 investments of varying structures, including mid-stage, late stage and public company investments, and has offices in Menlo Park, New York, and London. For more information about TCV, including a complete list of TCV investments, visit tcv.com.
Media Contact
Sydney Perkins
Mission North for Humu
humu@missionnorth.com
Katja Gagen
TCV
kgagen@tcv.com
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SOURCE Humu
