Culture Amp

Culture Amp is a Melbourne-based employee engagement software company. The company provides subscription-based anonymous employee surveys to get a pulse on employee sentiment and track this over a period of time to determine employee turnover. Specifically, the company offers over 40+ science-backed and customizable survey templates. Overall, the company differentiates itself by offering science-backed offerings developed and reviewed by PhD holders in the company across the fields of psychology, machine learning and others.

Other services offered include performance management (goal setting, 360 degree feedback, 1-on-1s) and employee development (individual growth plans, L&D data, a skills coach) and third party app integrations (Slack, Microsoft Teams, Rippling, etc). 

In March 2024, the company acquired people analytics platform Orgnostic to allow its large datasets to be integrated with Culture Amp’s AI platform. Previously, in January 2019, the company acquired Zugata, a performance management system which complements Culture Amp’s core offering.  

Key customers and partnerships

Its customer base includes large enterprises such as Sales Force, Slack, and Airbnb to name a few. As of April 2024, the company served over 25 million employees across 6,000 organizations, notably including McDonalds, Etsy, Canva and Intercom, among others.

In August 2023, The company announced that it would leverage Google’s Vertex AI to train, model, and fine-tune its GenAI capabilities for summarizing employee survey comments into actionable insights. Additionally, Culture Amp also partnered with compensation management firm Pave to connect performance data to compensation decisions with greater transparency.

Funding and financials

Culture Amp raised USD 100 million in July 2021 at a USD 1.5 billion valuation—doubling its value since 2019. The round was led by existing investors Sequoia Capital India and TDM Growth Partners. The fresh funds were to be funneled toward its dual data centers, scaling its business, and exploring potential M&A opportunities. 

The company generated AUD 101 million in revenue for FY2022 (~USD 153 million), representing a 53% year-on-year (YoY) increase. Despite this, the company’s operating losses widened by 1.3x YoY to USD 39.6 million. Further, the company reported that it was not profitable, incurring USD 101.9 million in staffing costs.