People analytics specialist ChartHop closes $35m Series B

This week has been a busy one for HR tech investment. Following in the footsteps of Vault, Eloomi and Whatfix, New York-based ChartHop has closed a $35 million Series B round.

The round was led by existing investor Andreessen Horowitz, a VC fund that has been very active in the HR tech space in recent months. For instance, it has invested in Pyn, Deel and Rewatch.

Elad Gil, Cowboy Ventures, and SemperVirens also participated in ChartHop’s Series B.

ChartHop is a people analytics platform that aims to give every company and employee access to the data they need.

According to a blogpost written by CEO Ian White, ChartHop differs from other people analytics offerings on the market because it offers pretty, digestible visualizations and has integrated planning and collaboration tools.

All of these insights and tools are accessible to everyone in the organization with careful control over who can access any sensitive data – user experience is of particular importance to ChartHop.

This Series B comes within six months of ChartHop closing a $14 million Series A and just over a year after its seed round.

2020 was a year of serious growth for the startup. White explained that the company’s revenue increased five fold and its customer base quadrupled to 150. Examples of clients are Remy Cointreau, Sequoia and OpenAI.

In addition, ChartHop has grown its team from 18 to 70 employees since the August 2020 Series A.

The Series B cash will be used to help ChartHop to continue to accelerate its product roadmap, to innovate its offerings and to grow the team.

In a statement, Andreesen Horowitz general partner David Ulevitch noted: “With HR and people functions so crucial to the growth and success of businesses, it’s unfortunate that most HR teams lack the critical people data to drive organizational decision making.

“ChartHop is the solution to this all-too-common problem, and is built by company leaders who have felt this pain personally. ChartHop’s visual approach to people analytics allows leaders to make organizational planning and strategy decisions with confidence.

“We’re thrilled to lead ChartHop’s Series B because of their impressive growth, the company’s vision, and the terrific, mission-oriented team they’ve assembled.”