Total amount raised
$74.1 Million
Latest funding date
01/01/2023
Location
ChartHop has successfully raised funding over four rounds, with the latest being a Series C round involving three investors, including Cox Enterprises. The company has also made an acquisition, having acquired Gather.
Keep reading to explore the intricacies of ChartHop's fundraising journey and the investors backing this innovative platform.
What Is ChartHop?
ChartHop is an information technology company specializing in software development and management. Based in New York, New York, the company operates in the fields of data visualization, human resources, productivity tools, and software. It has a workforce of 51-100 employees.
ChartHop offers an AI-driven HR platform designed to unify people and business data, enhancing HR workflows and decision-making. The platform includes modules for HRIS, headcount planning, compensation reviews, performance management, and employee engagement, making it suitable for various organizational roles.
How Much Funding Has ChartHop Raised?
- Seed Round
- Amount Raised: USD 5,000,000
- Date: February 2020
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of the platform and validate the market need for integrated HR data tools.
- Series A
- Amount Raised: USD 14,000,000
- Date: August 2020
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and expand the team to meet growing customer demand.
- Series B
- Amount Raised: USD 35,000,000
- Date: June 2021
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the product, invest in service and support, and grow go-to-market capabilities.
- Series C
- Amount Raised: USD 20,099,981
- Date: January 2023
- Lead Investors: Cox Enterprises
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the platform's capabilities and increase market penetration.
Total Amount Raised: USD 74,099,981. Current Valuation: Not publicly disclosed.
Key Investors
- Andreessen Horowitz
- Details: Andreessen Horowitz is a prominent venture capital firm based in Silicon Valley. It is known for investing in early-stage and growth-stage technology companies.
- Investment Focus Areas: Technology companies across various sectors, including software, consumer, enterprise, bio/healthcare, and fintech.
- Notable Investments: Facebook, Airbnb, Slack.
- Cox Enterprises
- Details: Cox Enterprises is a privately held global conglomerate headquartered in Atlanta, Georgia. It operates in the fields of communications, automotive, and media.
- Investment Focus Areas: Communications, automotive, media.
- Notable Investments: Autotrader, Kelley Blue Book, Cox Communications.
- Elad Gil
- Details: Elad Gil is a well-known angel investor and entrepreneur with a background in technology. He has been involved in several successful startups.
- Investment Focus Areas: Technology startups, particularly in the areas of software, healthcare, and biotech.
- Notable Investments: Airbnb, Stripe, Pinterest.
- Cowboy Ventures
- Details: Cowboy Ventures is a venture capital firm that focuses on seed-stage investments. It was founded by Aileen Lee, who coined the term "unicorn" for billion-dollar startups.
- Investment Focus Areas: Seed-stage technology companies, with a focus on consumer and enterprise software.
- Notable Investments: Dollar Shave Club, Guild Education, Tally.
- SemperVirens
- Details: SemperVirens is a venture capital firm that focuses on investing in companies that improve the future of work, health, and financial wellness. It is known for its thematic investment approach.
- Investment Focus Areas: Companies innovating in the future of work, health, and financial wellness sectors.
- Notable Investments: Ginger, Stride Health, Ease.
What's Next for ChartHop?
ChartHop stands at the cusp of significant growth opportunities, driven by the increasing demand for people analytics in HR departments. With a robust platform that integrates various HR datasets, the company is well-positioned to enhance its product offerings and expand its market reach. The HR analytics market, valued at $2.49 billion in 2020, presents a substantial opportunity for ChartHop to capitalize on.
Future fundraising efforts are likely as the company continues to grow and attract more investors. The successful Series B round, led by Andreessen Horowitz, indicates strong investor confidence. However, ChartHop may face challenges such as integrating diverse data sources and maintaining customer satisfaction amidst rapid growth. Competition from other HR tech companies also poses a potential hurdle.
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