US-based employee engagement platform Dynamic Signal received $36.5m in funding yesterday from investors including subsidiaries of software supplier Microsoft, networking equipment manufacturer Cisco and mass media group Time Warner.
Microsoft Ventures, Cisco Investments and Time Warner Investments were joined by Adams Street Partners, Akkadian Ventures, Focus Opportunity Fund, Founders Circle Capital, Rembrandt Venture Partners, Trinity Ventures and Venrock.
Founded in 2010, Dynamic Signal has developed a software platform that companies can use to handle internal communications.
The platform enables human resources and marketing staff to communicate with other members of the organisation as well as send personalised newsletters, create surveys and broadcast real-time video to employees.
The funding will drive company growth, including the recruitment of staff for newly opened offices in Seattle and Chicago as well as the company’s existing locations. Dynamic Signal will also strengthen its platform, adding deeper integration with enterprise systems.
Cisco Investments director Donald Tucker has joined Dynamic Signal’s board as an observer, while Robin Murray, partner at Adams Street, will take a full seat.
Dynamic Signal has now raised $88m in funding, it said, though its previous funding announcements add up to $95m.
Microsoft Ventures and Time Warner had contributed to the company’s $25m series D round in late 2016 together with Addakian Ventures, Focus Ventures, Trinity Ventures, Venrock and Rembrandt Venture Partners.
Time Warner Investments had already taken part in a $12m series C round for Dynamic Signal in 2014 that was led by Rembrandt and backed by conglomerate Cox Enterprises, Trinity Ventures and Venrock.
Time Warner, Cox, Venrock and Trinity had supplied $13.3m in series B funding for the company in 2012, after the latter three had provided $8m in a series A round the previous year.