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ChartHop has raised $35M in a Series B round from Andreessen Horowitz, marking it its third consecutive investment from the same investment firm. Last year in August, ChartHop had raised its Series A funding. This time, the proceeds shall be used to build its features, grow its team
ChartHop, an organization management platform that builds the data-driven status of a company to help them design their future, has announced its raise of $35 million in a Series B funding round led by Andreessen Horowitz (a16z). Elad Gil, Cowboy Ventures, and SemperVirens had participated in the round.
ChartHop will use the proceeds from the investment to accelerate its roadmap, build and improve its existing features, and in growing its team. Ian White, founder, CEO, and CTO of ChartHop, announced the raise in his company’s blog and attributed the need of raising its Series B to ChartHop’s customers’ needs.
We’ve seen almost 150 companies from post-Series-A startups to giant multinationals become customers of ChartHop, and demand has been overwhelming. We have so much to do!Ian White, founder, CEO, and CTO of ChartHop
With this latest investment, the total money raised in three funding rounds by ChartHop stands at $54 million, as per Crunchbase. The previous round of investments was also led by a16z, with the preceding Series A in August last year, where ChartHop bagged $20 million.
Founded in 2018, CharHop’s approach in people analytics helps companies aggregate and visualize their HR data. It provides a clear, data-driven status of the company with alignment, clarity, and a clearer context on all organizational levels. The company claims a five-fold revenue growth, a four-fold increase in customer count since it raised its Series A funding.
Commenting on the investment, David Ulevitch, general partner at a16z, stated that as HR and people functions remain crucial for businesses, most HR teams are still lacking critical people data to drive an organizational decision-making process. And that is where ChartHop’s solutions come into the picture.
ChartHop’s visual approach to people analytics allows leaders to make organizational planning and strategy decisions with confidence,” said Ulevitch. “We’re thrilled to lead ChartHop’s Series B because of their impressive growth, the company’s vision, and the terrific, mission-oriented team they’ve assembled,David Ulevitch, general partner at a16z