Dynamic Signal Raises $36.5 Million to Transform Employee Communication and Engagement in the Enterprise
CommPRO.biz Editorial Team
Employee Communication and Engagement platform, Dynamic Signal, announced it has raised $36.5 million in growth financing, bringing the company’s total funding to $88 million. Participants in this round include Adams Street Partners, Akkadian Ventures, Cisco Investments, Focus Opportunity Fund, Founders Circle Capital, Microsoft Ventures, Rembrandt Venture Partners, Time Warner Investments, Trinity Ventures, and Venrock. The new funding will help drive company growth and innovation to expand the platform’s capabilities, further providing a solution to the urgent business problem of connecting with the most valuable assets of the enterprise, employees.
“Employees are an organization’s most valued asset and communication with them is mission critical. But in today’s enterprise, communication is broken,” said Dynamic Signal CEO and co-founder, Russ Fradin. “Technology has changed the way we consume information. Eighty-five percent of U.S. adults now get their news on a mobile device, and more than 50 percent of the U.S. workforce does not have a corporate email address. The rapid adoption we’ve experienced is evidence that organizations recognize how significantly employee expectations for communication have radically outpaced enterprise communication practices. We’re proud to be leading this $5 billion market by providing the most comprehensive Employee Communication and Engagement Platform available today.”
More informed employees outperform their peers by 77 percent, but only 14 percent of communicators are confident in their ability to measure their efforts to inform employees (CEB, now Gartner). To solve this, Dynamic Signal modernizes, streamlines and measures all types of employee communication, those created in the platform and those originating in the many integrations already supported by Dynamic Signal – including widely used systems of record (HRIS, CRM, SSO, Identity Management, etc.), Intranet providers and collaboration/social networking tools such as Facebook, Slack and Yammer. The investment will fund an expansion of Dynamic Signal’s product functionality and deeper integrations with enterprise systems.
Additionally, this round of growth capital will support the company’s aggressive hiring plans which include staffing newly established Seattle and Chicago offices, as well as growing existing offices in London, New York, and Silicon Valley. Dynamic Signal expects to more than double its headcount in 2018 to meet the growing market demand for its leading employee communication and engagement platform.
Further, the company also announced the board appointment of Robin Murray from Adams Street Partners, and board observer Donald Tucker, from Cisco Investments.
“Work has changed, making the collaboration market even more important to Cisco,” said Rob Salvagno, Cisco Vice President and Head of Corporate Development and Investments. “We are always looking for innovative companies that are creating technology to improve work, enhance employee performance and drive business impact. We recognize the urgent need for Employee Communication and Engagement Platforms among our own customers and the world at large, so we’re thrilled to invest in Dynamic Signal, and further our commitment to meeting the business needs of the enterprise.”
Additionally, Dynamic Signal today announced:
DySi Open: Available in both Apple’s App Store and the Google Play Store, DySi Open is a free, fully functional Dynamic Signal powered-community that allows communication, HR and marketing professionals to experience the Dynamic Signal platform and connect with their peers in the same way their employees would experience Dynamic Signal within their organizations. Dynamic Signal will create, curate and publish insights on DySi Open about corporate communication, employee advocacy and engagement, inviting the community to share feedback and insights with each other through DySi Open.
Newsletters: Dynamic Signal’s newly released newsletters allow customers to quickly create personalized newsletters by selecting multiple pieces of multimedia content and dropping them into a customized, formatted template. Administrators can distribute newsletters to targeted employee segments in-app and via mobile push notification or email in minutes; ensuring employees get only the most timely, relevant news digests for their role, geography, team, or management level, etc.
Surveys: Dynamic Signal’s Surveys allow communicators, marketers and HR professionals to measure efficacy, benchmark impact, and gather employee feedback with easy to execute Employee NPS, custom and pulse surveys to targeted employee segments. Surveys can be sent in-app and via push notification, SMS or email, and employees can respond right from their mobile app or desktop. Survey responses can also be collected anonymously, and administrators can easily resend surveys to those who haven’t completed them. Results update in real-time, are easy to read and exportable in both text and graphical formats.
Video Broadcasting: Video has become an increasingly important tool for authentic communication. With Dynamic Signal’s Video Broadcasting, customers can natively capture, edit, submit, review and share real-time video with targeted employee segments on the fly, to be consumed on the channels or devices most convenient for the way they work.