New York-based startup, Centrical, which has developed an employee engagement and performance management platform raised US$ 32 million in funding on 10 March 2021.
Investors: The funding round was led by Intel Capital. Other participants included JVP, C4 Ventures, Citi Ventures and existing backers Aleph, CE Ventures, La Maison Compagnie d’Investissment and 2B Angels. Centrical’s total funds raised to date stands at US$ 66 million.
Purpose of the funding: The funds will be utilized by the startup to invest in R&D as Centrical looks to acquire new customers. It is also looking forward to launching new products aimed at aiding achievement in high-level corporate goals, crisis management and other business agility-related activities.
About Centrical
Founded in 2013 by Gal Rimon as GamEffective, Centrical provides companies access to a platform that lets remote employees interact, train and perform in hybrid workplaces. Managers can set personalized performance and learning goals for the employees. Access to real-time performance tracking, engagement in challenges, levels and prizes offers a lot of learning opportunities for them.
With the help of Centrical’s gamification software, enterprises can easily incorporate both engagement and recognition into their organizations. The bite-sized “microlearning” activities that leverage the AI engine to recommend lessons to employees, can help to increase their productivity and performance significantly.
Centrical claims that its client – Microsoft, experienced a 10% increase in the productivity of its contact centre representatives and a fall by 12% in short-term absenteeism. Cellular Sales, another client of Centrical, which is Verizon’s largest authorized retailer, experienced a 53% increase in its handset sales and two times higher combo sales of its accessories.
What the CEO has to say: “While this investment is gratifying, especially as it occurred in the midst of a pandemic, what all of us at Centrical are happiest about is all we were able to do for our customers during the past year. We helped them and their employees perform their best during a most difficult time by adding and enhancing features that brought even more value to our employee-centric success platform. Those ongoing efforts are what drives us and why our customers continue to be committed to us. I firmly believe those were key reasons we have secured the investment we did.” – Gal Rimon, CEO of Centrical.
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