ChartHop Receives $5M Seed Investment
BROOKLYN, N.Y, ChartHop, the world's first organizational management platform built to help companies scale, announced today that it raised $5 million in seed funding.
The round was led by Andreessen Horowitz (a16z). Abstract Ventures, the a16z Cultural Leadership Fund, CoFound, Cowboy Ventures, Flybridge Capital, Shrug Capital, Work Life Ventures, as well as prominent startup founders and C-level executives participated in the round.
Executives and People leaders have long been constrained by frustrating, archaic tools and processes used to manage their organization - from manual programs and outdated spreadsheets to inefficient meetings and incomplete data. Organizations have invested more than $20 billion in HR technology over the last five years, yet 65 percent of them still feel the technology is inadequate at supporting their companies' objectives.
Emerging from stealth mode today, ChartHop helps organizations optimize their most important driver to success - people. Using the ChartHop platform, decision-makers can visualize, plan and analyze their organization within minutes, while employees get valuable insight into how the company works at-large.
"Technology shouldn't hinder HR and People teams from being strategic business partners or supporting employees - it should empower them," said Ian White, ChartHop's founder, CEO and CTO. "This investment fuels our mission to equip all leaders with a data-informed approach to organizational management."
ChartHop enables customers to streamline organizational management across People, Finance, Recruiting, and team managers by providing one platform for syncing People data and collaboratively building headcount plans. With the platform, customers can structure and analyze People data by multiple factors, including location, salary, stock grants, number of direct reports, gender, and more. This in-depth analysis allows leaders to more clearly understand their organization in real-time, breaking through information silos and unearthing hidden biases.
"People are the backbone of every great organization, but the software to support them has historically been painfully inefficient and woefully insufficient. ChartHop fixes that by connecting disparate systems and creating an unprecedented level of transparency the entire organization can benefit from," said David Ulevitch, General Partner, a16z. "We're thrilled to partner with Ian and the ChartHop team as they deliver the products that help companies run and scale."
Since ChartHop launched in 2018, dozens of companies have turned to the people platform to revamp their organizational management strategies, including Assurance, Better Mortgage, InVision, MongoDB, RĂ©my Cointreau, Sequoia Consulting Group, and Teachable.
"I can't imagine what we'd do without ChartHop," said David Dankenbrink, VP of Human Resources at RĂ©my Cointreau. "With a number of features, such as the auto-updated org chart, custom reporting and real-time scenario-building, ChartHop has been a critical tool in my organization's succession planning and data comprehension."
"Leaders need a simple and effective tool to have a comprehensive view of their entire organization," said Melissa Lightbody, Chief People Officer at Sequoia Consulting Group. "ChartHop solves that challenge for us."
ChartHop is the world's first organizational management platform empowering leaders and team members alike to see the past and present of their organization and design its future. The platform automagically builds fluid, data-driven views of a company through real-time updated org charts, custom reporting, and headcount planning tools that boost efficiency and transparency across teams. Simply put - ChartHop makes organizations run and scale better. ChartHop plays well with 20 plus platforms, including ADP, BambooHR, Carta, Greenhouse, Lever, SAP SuccessFactors, Workday and more. Based in Brooklyn, New York, ChartHop was founded in 2018 by Ian White. Hop on over to Charthop.com to learn more and follow our tracks via Twitter and LinkedIn.
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