On the back of 662% year over year revenue growth, Peakon recently announced a €18m Series B lead by Balderton, just 10 months after EQT Ventures led the €6.1m Series A. As proud backers of a fantastic team, I’d like to highlight two factors that have been vital to Peakon’s explosive growth:
Leadership team and culture — When EQT Ventures lead the Series A, Phil (CEO), Kasper (COO), Dan (CMO), and Christian (CTO) had recently had the insight that they needed a sales leader to take Peakon to the next level. Neil (CRO) joined the leadership team and, based in London, made it his mission to scale sales like no one had done before.. As the Series A investment was put to use and both employees and revenue flooded in, the team was further strengthened this summer with Simone (CFO, ex-King — where we worked together) and Matt (Talent, ex-Lyst). There’s a real premium on companies at the stage where Peakon is now, growing explosively and also having the ability to attract and build out the leadership team that keeps the engine revving.
The war for talent — The battle for great people wages on in Europe and the rest of the world and there are no signs that attracting and retaining top talent will get any easier in the future. As a result, there’s a maturing view amongst companies in general, and enterprises in particular, that continuous insight into employee engagement is the path forward when it comes to maximizing employee happiness and minimizing unwanted churn. If you’re a CEO or talent leader in 2018 and you can’t identify declining engagement and take action before it’s too late, you’re at a significant disadvantage. During 2017, global leaders like BMW, CapGemini and Maersk came to this conclusion and became Peakon customers.
I’d also like to take this opportunity to highlight how EQT’s portfolio companies work together, despite being in completely different industries and company stages. EQT Infrastructure II portfolio company WASH, a leader in multifamily laundry systems founded in 1947, has been using Peakon since last spring:
EQT Ventures is obviously a proud investor and happy to continue supporting Team Peakon going forward as they tackle the next big challenge — expanding into the US and Germany. The journey has just begun, but a huge congrats to the Peakon team for this Series B milestone.