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Organizational management platform startup ChartHop raises $35M for platform expansion
Organizational management platform startup ChartHop Inc. announced today it has raised $35 million in new funding to continue its expansion through product enhancements, investments in service and support, and growth in go-to-market capabilities.
The Series B round was led by Andreessen Horowitz. Other investors included Elad Gil, Cowboy Ventures and SemperVirens.
Founded in 2018, ChartHop describes itself as the “world’s first org optimizer” and “the transparent source of truth for growth organizations.” The company’s cloud service is designed to allow enterprises to visualize, plan and understand their organization through interactive organization charts.
ChartHop’s service allows customers to streamline organization management across people, finance, recruiting and team managers by providing a single platform for sharing people data and collaboratively building headcount plans. The company’s platform assists in solving issues such as dealing with people across an organization by centralizing and visualizing the people data leaders need to effectively manage their organization, such as location, gender, salary, stock grants and job history through integrations with existing people systems.
Since the company last raised funding in August, ChartHop has seen significant growth. ChartHop now has 130 corporate customers and has increased month-over-month revenue by 17% for the past 12 months off an undisclosed base.
Among notable ChartHop customers are BetterCloud Inc., Invision App Inc., Remy Cointreau, Sequoia Capital Operations LLC, Plaid Inc. and OpenAI LLC.
“With HR and people functions so crucial to the growth and success of businesses, it’s unfortunate that most HR teams lack the critical people data to drive organizational decision making,” David Ulevitch, general partner at Andreessen Horowitz, said in a statement. “ChartHop is the solution to this all-too-common problem and is built by company leaders who have felt this pain personally.”
Including the new funding, ChartHop has raised $54 million to date, according to data from Crunchbase. Previous investors include Tokyo Black, Abstract Ventures, SemperVirens Venture Capital, Basement Fund and The Todd & Ruhul Venture Fund.
Image: ChartHop
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