Following its successful $15 million funding round, Exton’s Workplace Dynamics has rebranded and renamed itself Energage, writes Michelle Caffrey for the Philadelphia Business Journal.
The 11-year-old HR tech company provides two main services. Its Top Workplaces program works with major publications to rank employee satisfaction across the country. Meanwhile, the company’s direct-to-market program is a software-as-a-service platform for employee engagement. This allows employees to anonymously raise suggestions with management at more than 7,000 companies, including Microsoft and CapitalOne.
According to Fraser Marlow, Energage’s head of research and marketing, they noticed the boom in startups and investment at a tech conference in Chicago last year.
“We realized we had a window of opportunity to get out into the market,” said Marlow. He added that the Philadelphia Alliance for Capital and Technologies “really encouraged us to seize this new opportunity and bring a new investor to the table.”
They found the perfect fit in Radnor’s NewSpring Capital, which invested $10 million. The remaining $5 million came from Bridge Bank and Rittenhouse Ventures.
The name change was implemented after Workplace Dynamics acquired a small firm called Energage, and realized the name better aligned with their goal of becoming a fast-growing tech company.
Read more about Energage in the Philadelphia Business Journal here.