Announcing ChartHop’s Series C Funding

Since ChartHop’s inception, we’ve been laser-focused on building the best People software on the planet. And since our Series B raise in 2021, we've quadrupled revenue, quadrupled active users, tripled paying customers, and tripled our team size.

And today we’re announcing that we have closed our Series C funding round of $20M led by Cox Enterprises, with participation from existing investor Andreessen Horowitz.

The Market

I’m particularly proud of this round for a number of reasons.

It's no secret that this is a tough fundraising market. SaaS valuations are down, firms are reluctant to deploy capital, and many companies may be forced to raise capital on structured terms that can significantly impact employee equity. So going into the fundraise, my priorities were three-fold:

• Raise from a high-quality partner at a high-quality firm
• Raise on clean terms to protect the value of all shareholder equity
• Raise the right amount, at a fair valuation, to minimize employee dilution

I'm thrilled that we were able to find the right partner and deliver on all three counts. Andrew Davis, Senior Vice President at Cox Enterprises, will join our Board of Directors. Andrew brings strong experience leading all private investments, first at T Rowe Price and now Cox, that will be invaluable as we continue to scale.

My goal has always been to not only build the best software, but to scale with a strong team culture. This underscores my commitment to our ChartHoppers -- we take care of each other.

Making the Best of ChartHop Even Better

Ultimately, this round enables us to keep delivering the best product for our customers. We’re doubling down on our product fundamentals that make ChartHop, ChartHop. Why? Because the challenges facing People, Finance, and Leadership teams are only becoming more complex.

This means improving the experience for some of our most beloved offerings on our core People platform such as Compensation Reviews, Headcount Planning, and Manager and Employee dashboards. And we've got new incredible visualizations and platform capabilities in the works -- I can't wait to share them with our customers.

What’s Next

I'm immensely grateful to our investors, customers, partners, and ChartHoppers who believe in our mission and are ready to embrace the next frontier of People data. 2023 looks brighter than ever.