Emplify CEO: Funding Round is 'Validation'
INDIANAPOLIS - The co-founder and chief executive officer of Indianapolis-based Emplify says its recently-completed funding round is "validation" of the tech company's efforts. Emplify, which provides an employee engagement management software platform, raised $15 million in Series B funding, led by New Jersey-based Edison Partners. Santiago Jaramillo says demand for the platform has forced the company to grow and Emplify plans to use the funding to add to its staff and further develop the software.
The company has seen an average of 275% year-over-year growth since its founding in 2015. In an interview with Inside INdiana Business, Jaramillo said despite the company's success, the market is "craving for more."
"We are ramping up operations to keep up with the demand that there is because this is the number one question that's facing employers today: How do we create a culture that attracts, engages and retains the talent that we need?" said Jaramillo. "Our investors are seeing that revenue growth and are saying, 'We'd like to provide you with more capital to take advantage of this incredible market opportunity because you're really onto something.'"
Jaramillo says the company is looking to hire across all functions, including product and engineering and sales and marketing roles, as well as certified employee engagement strategists, who service as an executive coach to help companies analyze data from the platform.
Edison Partners had previously led Emplify's Series A funding round in 2018, which also included some of the same investors as the Series B round. Jaramillo says having repeat investors adds to the validation the company feels.
"We were able to bring an east coast-based investor that brings with it deep pockets and really deep expertise; they've built over 200 high-growth, big software companies before us and to have their validation and continued support is a testament to the value that we're adding to the customers and how costly the problem is of employee engagement that really others haven't figured out yet. We're fortunate to have those partners and excited to continue in expanding our relationship with them."
Emplify touts clients such as Harley-Davidson Inc. (NYSE: HOG), Crew Carwash and Ruoff Home Mortgage.