Workday, a California based enterprise cloud applications for finance and human resources, has announced they have signed an agreement with Peakon about acquiring the startup. The price has been announced as approximately $ 700 million (€ 580 million) in cash.
“Peakon is on the cutting edge of helping organizations turn employee insights into more connected teams and stronger organizations. Bringing Peakon into the Workday family will be very compelling to our customers – especially following an extraordinary past year that has magnified the importance of having a constant pulse on employee sentiment in order to keep people engaged and productive.”said Aneel Bhusri, co-founder and co-CEO, Workday.
Peakon, which we have followed since the start in 2015, was started by two experienced entrepreneurs who had previously been part of Podio, Phil Chambers and Kasper Hulthin. They started Peakon together with Christian Holm and Dan Rogers who had a past with Songkick. The startup has had a rapid growth and reached in 2019 over 120 DKK million (€ 16 million) in sales, the latest official figures.
“We share Workday’s passion for putting people at the center of technology, and together, we’ll be able to provide customers with the employee insights they need to support rapid change and growth.” commented Phil Chambers from Peakon.
There are multiple startups in the region focusing on employee wellbeing, such as Wellbefy.
“We are impressed by Peakon’s journey. They have truly contributed to the development of the modern employee survey. The Nordic countries have always been ahead of the curve in the development of people analytics technologies, and, therefore, it is not surprising that there are several active nordic companies within this segment. The correlation between organisational success and human capital is recognised here.” says Rebecca Arfwedson, CCO at Wellbefy
She also points out that the Nordics have many governmental regulations in order to help organisations create a healthy work environment, often leading the field, such as SAM– AFS:2001:1 in Sweden.
(Transperancy, we share owners with Wellbefy)