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GuideSpark snags more than $15m in NEA-led round

6 Mar 2014

TDigital employee communications company GuideSpark has raised more than $15m in a funding round led by venture capital firm New Enterprise Associates (NEA).

Existing backers Storm Ventures and IDG Ventures also participated in the round. GuideSpark said it will invest “aggressively” in new products, technology, and employees to meet the needs of its customers that include L’Oreal USA, 7-Eleven, Adobe, BOX, and News Corp.

The Menlo Park-based startup noted that US-bssed businesses spend more than $62bn on training, more than half of which goes into technology, tools, coaching and other non-instructor lead programmes.

NEA general partner Peter Sonsini said, “The explosion of video and mobile in the consumer world is now also changing how employees consume information at work.

“With the connected employee infiltrating the workplace, this trend is taking off and GuideSpark is leading the transformation away from traditional paper, seminar, and text-based employee communications.

“We are excited to partner with GuideSpark on their journey to revolutionize communications in the workplace.”

Earlier this month NEA invested $37.5m of Series B capital in business process management software provider Appian.

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