Dynamic Signal Raises $36.5 Million to Transform Employee Communication and Engagement
Dams Street Partners, Cisco Investments, and Microsoft Ventures Invest in the Employee Communication and Engagement Category, as They Recognize the Urgent Business Need to Modernize, Streamline and Measure Employee Communication
Dynamic Signal, a leading Employee Communication and Engagement platform, has announced that it has raised $36.5 million in growth financing. The latest funding brings 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.
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Dynamic Signal CEO and co-founder, Russell Fradin, said, “Employees are an organization’s most valued asset and communication with them is mission critical. But in today’s enterprise, communication is broken.”
Rusell added, “Technology has changed the way we consume information. Eighty-five percent of the US 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.
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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.
“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.
Rob added, “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.”
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In 2017, Dynamic Signal has seen 3x growth in the number of users and a 70 percent increase in engagement on its platform, now reaching employees in over 100 countries on six continents.
Additionally, Dynamic Signal also announced —
- DySi Open: Available today 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.
Lina Betancourt, Essilor of America’s Employee Communications Manager, said, “Bringing Essilor’s mission of improving lives by improving sight to life wouldn’t be possible without the full engagement of our employees – our most valued asset. Creating alignment around this mission and our business strategy is how we make the difference every day for both the company and our customers.”
Lina added, “We’re focused on meaningful, direct employee communication that is measurable and delivered in a way that is convenient for employees to consume whenever and wherever they’d like. By leveraging Dynamic Signal’s Employee Communication and Engagement Platform, we are able to modernize, streamline, and measure the way we reach and engage employees, and Dynamic Signal surveys allow us to see how we’re really moving the needle to ensure the employee experience at Essilor is best-in-class.”