Finland-based tech startup Happeo raises $12M in Series A funding to change the way your company communicates
Organizations with over 10,000 employees, use on average 1,000 software products. This results in unengaged and unproductive workforce. Happeo is a Helsinki, Finland-based tech startup that is on a mission to change that. Happeo is a community-powered employee communications platform that acts as a company’s news stream and enterprise social network, combined into a branded intranet environment. They are building a platform which would work as the core hub and knowledge base for these large organizations so they can yet again benefit from the economies of scale. Its software is is already being used by over 300,000 users worldwide.
Today, Happeo announced it has raised $12M in a Series A funding to accelerate its product development and grow its teams in the Netherlands, Finland, Romania and the United States. The round was led by INKEF Capital, with participation from Happeo’s previous investors DN Capital, Maki.vc and Vendep Capital.
Founded in 2017 by Antero Hanhirova, Perttu Ojansuu, and Vesa Sironen, Happeo’s platform solves a common problem with intranets: low usage rates. As one of the only vendors in its industry, Happeo has been able to develop a platform with outstanding usage metrics, noticeable through its high Daily Active Use/Monthly Active Use ratio – the industry-standard metric for social-enabled platforms. For the past twelve months, Happeo’s average sits at 50%, which is on par with the world’s most popular web apps. Additionally, the social intranet platform has seen an increase in average daily messages sent within the platform, going from 500,000 to over 2.5 million in the first quarter of this year, as companies increasingly rely on a remote workforce.
The all-in-one enterprise social intranet, knowledge base, digital workplace, Internal Communications tool and people directory – all working perfectly with Google Suite. Happeo turns G Suite into a unified hub for teamwork. It facilitates managing remote teams and collaboration for enterprise and fast-growing organizations.
Happeo’s advantage, according to CEO and Founder Perttu Ojansuu, is that “Beyond providing a platform that bridges remote communication and collaboration together, we are end-user obsessed. This created our user-first design philosophy, which is our main competitive advantage.”
Kyang Yung, Director at INKEF Capital says; “From the first moment that we met the Happeo team, we have been blown away by their drive to disrupt the intranet industry. Happeo has been able to deliver usage metrics which are truly unrivaled in the space. We look forward to working with this team of seasoned operators and supporting them in leading the way to a new kind of social intranet.”
The funding round will enable Happeo to further expand its unconventional approach to internal communications, which manifests itself in deep integrations with leading workplace-communication tools such as Slack and G Suite. The company will also integrate with Zoom in the coming months, creating a holistic spectrum of digital communication tools where employees discuss, meet, share files and work with business apps.