Enboarder Raises $32 Million in Series B Funding to Expand People Activation Platform

Led by NewSpring,investment will support Enboarder's next phase of growth and US expansion

AUSTIN,Texas,Feb. 9,2022 --Enboarder,the world's only People Activation Platform enabling companies to transform their people programs into simple,science-based,human-centric journeys,today announced it has raised $32 million in Series B funding,bringing its total investment to $50 million. The round was led by NewSpring,with participation from previous investors,Greycroft and Next Coast Ventures,and new investors Golub Capital,Escalate Capital Partner,Alumni Venturesand Gaingels.

"Enboarder's mission is to help HR teams drive action on their programs and initiatives by better engaging with their employees and creating more personalized experiences," said Brent Pearson,founder and CEO of Enboarder. "In a time when employees are more overwhelmed and disconnected than ever before,and uncertainty in hybrid work plans continues,ensuring workers are connected and engaged is crucial. This investment will power Enboarder's next stage of growth and is critical to helping Enboarder lead the global people activation revolution."

Enboarder will use the new funds to double down on international growth. With plans to double its headcount over the next year,Enboarder will also use its new capital to invest in additional infrastructure and systems to further accelerate its global growth and expansion.

With NewSpring's investment,Hart Callahan,NewSpring Partner will join Enboarder's board as a director.

"The key to any successful business is a happy,engaged and connected workforce and Enboarder ensures organizations can do just this by putting their people first," said Callahan. "We're excited to partner with Enboarder at this pivotal moment in the company's history and look forward to supporting its continued growth and the wider people activation revolution."

This funding announcement comes after a landmark year for Enboarder. In late 2021,the company expanded its suite of products to become the world's only People Activation platform. This broadened Enboarder's offerings beyond onboarding in response to current market and workforce demands that created a disconnected,overwhelmed workplace. In response,Enboarder created its People Activation Platform: a one-of-a-kind platform rooted in behavioral science and designed to help employees take action on their company's HR programs and initiatives and become more engaged and connected with their colleagues and organizations.

Over the past year,Enboarder doubled its revenue and increased its customer base by 130%. Now,more than 400 companies ––including Deloitte,Dolby,Eventbrite,Hugo Boss,ING,McDonalds,Shopify and Wyndham Destinations ––use Enboarder's People Activation platform to revolutionize their HR programs. Enboarder also doubled its overall headcount in 2021.

To support this rapid team and business growth,Enboarder also expanded its leadership team with the addition of veteran HR executive Laura Lee Gentry as Chief People Officer in December 2021 and seasoned marketing executive Andrea Dumont,who joined Enboarder's executive team as Chief Marketing Officer on February 7.

"Employees are more overwhelmed than ever before and hybrid work environments are leading to increasingly disconnected workforces. In fact,Enboarder's own research supports this: in a recent survey of global employees,69% of the workers we surveyed worldwide don't feel a very strong sense of connection to their co-workers and 67% would use the phrase 'burnt out' to describe work over the past 12 months," said Pearson. "It's clear that HR initiatives are still failing to drive change and engagement. Enboarder is poised to help HR teams transform their processes and programs to create a more engaged,connected and successful workforce during this critical juncture of the future of work. I'm looking forward to this next phase of Enboarder's growth and our continued leadership of the People Activation Revolution."

For more information on Enboarder,please visit: https://enboarder.com/.

About Enboarder

Enboarder is the world's only People Activation Platform,designed to inspire action and truly engage employees,enabling companies to transform their people programs into simple,human-centric journeys. Whether it's onboarding,learning and development,change management,diversity and inclusion,or employee transitions,Enboarder has reimagined HR programs to create natural sequences that match organizations' people journeys. Enboarder didn't just streamline static processes,but has revolutionized them.

Enboarder was designed with humans in mind,putting people and human connection at the center of everything it does. Enboarder achieves People Activation with science and research-based features designed for action. Companies can now reach and receive a response from employees on their terms within the organization's timeline.

Global,industry-leading employers including McDonalds,ING and Eventbrite love Enboarder for its consumer-like end user experiences,stakeholder orchestration capability and extreme flexibility.

About NewSpring

NewSpring partners with the innovators,makers,and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages over $2.5 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Having invested in over 180 companies,NewSpring brings a wealth of knowledge,experience,and resources to take growing companies to the next level and beyond. Partnering with management teams to help develop their businesses into market leaders,NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. To learn more,visit www.newspringcapital.com.

Contact:

EnboarderPR@walkersands.com

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