From humble beginnings in a Melbourne co-working space 10 years ago to a $1 billion valuation, Culture Amp has become the state’s latest tech success story to attain coveted “unicorn” status.
Culture Amp’s new market valuation is further validation of Victoria’s digital tech and ICT sector, paving the way for an even stronger economy, more innovation and new local jobs.
The home-grown data analytics and employee feedback company raised more than $121 million in a recent round of venture-capital funding.
The funding comes from Culture Amp’s expansion into the Asia-Pacific and Latin American markets, pushing its overall market value to $1.04 billion.
Headquartered in Melbourne’s tech hot-spot Cremorne, Culture Amp employs 400 staff across Australia and around the world and counts more than 2,500 companies as customers, including Airbnb, Salesforce, Slack and McDonald’s.
The Andrews Labor Government is delivering for Victoria’s tech sector, establishing LaunchVic to nurture our startup ecosystem and ensure tech companies are well positioned to achieve global scale.
Victoria is an acknowledged digital tech powerhouse – Culture Amp joins industry leaders Seek, REAGroup, CarSales.com.au, MYOB, Aconex, Envato and Airwallex as billion-dollar operators in the state.
Victoria’s tech and ICT sector employs more than 137,000 people across 19,300 businesses, generating $36.6 billion in annual revenue.
Quotes attributable to Minister for Jobs, Innovation and Trade Martin Pakula
“With our culture of innovation and status as the tech capital of Australia, it’s no surprise that another Melbourne company has achieved unicorn status.”
“Culture Amp is one of Australia’s fastest growing technology startups with offices in Melbourne, San Francisco, New York and London.”
“The company’s continuing commitment to Victoria is a clear indication that we are the place to be when it comes to digital tech and innovation.”
Quote attributable Culture Amp chief executive and co-founder Didier Elzinga
“This round of funding underpins our mission to build a better world of work by getting the Culture Amp platform into the hands of more people, and more leaders, who believe that culture is the biggest lever that you have to be successful.”