Seattle startup VoloMetrix has raised $12 million in series B funding, money that the company will use to continue to develop products that measure the efficiency of workforces. Investors in the round include Split Rock Partners and Shasta Ventures, bringing total funding in the company to $17 million.
“This funding is further validation that our vision of fundamentally changing the way that organizations manage themselves is transformational,” VoloMetrix CEO and founder Ryan Fuller told GeekWire.
VoloMetrix offers tools that churn out “People Analytics” — the company’s idea that software can be used to improve the performance and productivity of staff. The technology applies analytics to company-gathered data on employee behaviors and the company’s social graph, extracting data from things such as company emails and calendars.
VoloMetrix says the data it collects and analyzes is anonymous and “illuminates organizational health issues.”
“Once companies know how time is spent, they can analyze trends and develop business objectives to help streamline and improve performance,” the company says.
VoloMetrix works with large enterprise customers like Seagate and Symantec. Fuller said the company’s core idea of “providing unprecedented visibility to large organizations to the activities and relationships that drive their business” hasn’t changed.
“What’s changed is our ability to articulate and deliver that vision in a compelling way, our level of credibility as we’ve worked with major Fortune 500 customers to prove our approach with hundreds of thousands of their employees, and the talent level and expertise of our team,” he noted.
As part of the financing round, Jim Simons of Split Rock will join the board of the three-year-old company. VoloMetrix currently employs 20 and will use the new funding to triple its workforce over the next year.
Previously on GeekWire: Startup Spotlight: VoloMetrix taps company data to make teams more efficient