RoundPegg, which helps companies streamline their culture, is raising a bridge round under $1 million this month. The most recent capital, which puts RoundPegg's total funding at nearly $5 million, will be put directly to sales and marketing hires.
“We are more aggressively going after markets like retail, healthcare and sales organizations with culture as the base component along with hiring,” EVP of Biz Dev Tim Wolters said.
Since its $2.8 million round in November, the culture management solutions company has added in a complete engagement platform that connects the dots between employees’ cultural alignment and engagement. Now RoundPegg knows that “companies with higher alignment have better engagement and better overall company performance,” Wolters said.
“While we got our start with the hiring and the predictive hiring aspect, part of that prediction is about cultural alignment and correlating fit to how long somebody will stay in the organization,” Wolters said. “People with a low RoundPegg score are 50 percent more likely to leave in 18 months and people with a high RoundPegg score are 27 percent more likely to stay.”
Over the next few months, expect to see from RoundPegg more iterations with the engagement dashboards and with additional API work so that RoundPegg’s customers can factor RoundPegg data into other dashboards.
“We are also doing some stuff around internationalization, especially as we get into bigger and bigger enterprise contracts,” Wolter said. “We have already translated RoundPegg into 18 languages to roll out over the next month.”