Downtown headquartered venture capital firm Greycroft Partners led a $8 million Series A round for Austin, Texas-based human resources software developer Enboarder Inc. The raise was finalized June 19.
Greycroft participated in Enboarder’s previous venture round, and its current investment brings Enboarder’s total funding to $12 million.
New York-based Stage 2 Capital and Austin-based Next Coast Ventures also contributed to the funding round.
“Companies that do not adopt solutions to power an exceptional employee experience will lose the war for talent. Enboarder sits right at the center of this trend with onboarding, which in the traditional form is broken, missing a prime opportunity to make a positive impression on an employee,” Greycroft Principal Will Szczerbiak said in a statement.
Enboarder said it will use the new funds to boost its sales, marketing, and customer success teams, as well as increase its product offerings. Szczerbiak said the company will “double the size of its team in the next 12 months.”
The company’s software launched in 2015 and assists employers with the process of onboarding new employees. Enboarder reports its clients include Verizon Communications Inc., Electronic Arts Inc., and Eventbrite Inc.
Tech reporter Samson Amore can be reached at firstname.lastname@example.org or (323) 556-8335. Follow him on Twitter @samsonamore.
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