Rungway secures £3 million of growth funding from ScaleUp Capital
Rungway, the innovative platform for employee engagement and listening, is delighted to have received a £3 million growth investment from ScaleUp Capital (‘ScaleUp’), an investment fund which specialises in scaling businesses in digital B2B sectors.
Founded in 2017 by Julie Chakraverty, Rungway’s employee engagement platform is now helping organisations foster psychologically safe, inclusive cultures where employees can seek advice, feel connected and heard. At a time when responding to the needs of employees has never been so critical, the company has proven traction as a leading employee engagement platform by securing a breadth of enterprise clients including UBS, Sellafield and St James’s Place.
This funding will allow Rungway to strengthen and develop its technology offering and, importantly, expand its audience reach. In addition to the injection of capital, Rungway will benefit from ScaleUp Capital’s Scaler Programme, which is their proven methodology designed to accelerate growth and includes putting a team on the ground covering strategy, talent, change, and finance disciplines.
Julie Chakraverty, founder and CEO of Rungway, said “With the pandemic dramatically transforming corporate culture there is now a greater emphasis on the authentic employee voice and experience. Now, more than ever, there is an urgent need for companies to engage with their employees and ensure every voice is heard. As we grow our client base with ScaleUp Capital’s support, we will have greater analytical and benchmarking capabilities to help companies surface unique insights and take the right actions, with the ultimate goal of fostering the most inclusive workplace culture.”
New features enabled by the investment will help companies:
Understand employee voice through an anonymous, but moderated, online platform
Give leadership a unique way to respond to employee concerns, thereby strengthening culture
Enable colleagues and leadership alike to share collective wisdom
ScaleUp Capital’s Investment Director, David Sparrow, said “Rungway’s solution provides its customers with a transformative level of insight into their organisation’s culture. We at ScaleUp Capital are hugely impressed by the team, the technology, and the opportunity to grow into a rapidly evolving HR technology market.”
“We’re excited to be part of the next chapter in the Rungway story. As we continue to develop the platform and invest in the team, we look forward to Rungway building on its strong momentum and becoming a global player in the employee listening and engagement sector.”
ScaleUp Capital is a specialist scale-up investor and platform in the digital B2B sector. Following initial investment, ScaleUp aims to scale its investments to revenues of GBP 10-50m over 4-7 years. Recent investments include Sanctus, a workplace coaching platform, and Sifted, the news outlet focused on European startups.