Culture Amp becomes latest Vic tech unicorn

Employee engagement management company Culture Amp has become Victoria’s latest tech unicorn after closing a more than $121 million funding round.

The Melbourne-based data analytics and employee feedback company now has a market value of $1.04 billion.

Culture Amp employs 400 staff worldwide and has more than 2500 corporate customers, including Airbnb, Salesforce, Slack and McDonald’s.

Culture Amp secured the funding through its expansion into the Asia–Pacific and Latin American markets.

Victorian Minister for Jobs, Innovation and Trade Martin Pakula welcomed the news, stating that Victoria’s vibrant technology sector encompasses over 19,000 businesses generating a collective $36.6 billion in annual revenue.

“With our culture of innovation and status as the tech capital of Australia, it’s no surprise that another Melbourne company has achieved unicorn status,” he said.

“Culture Amp is one of Australia’s fastest growing technology start-ups, with offices in Melbourne, San Francisco, New York and London. The company’s continuing commitment to Victoria is a clear indication that we are the place to be when it comes to digital tech and innovation.”

Other Victorian tech unicorns include Seek, REAGroup, CarSales.com.au, MYOB, Aconex, Envato and Airwallex.

Image credit: ©stock.adobe.com/au/foxyburrow