Peakon, a new analytics tool for employee engagement and retention, previously available in closed beta, has fully launched this week. Along with the launch announcement, the company also shared news about Series A funding in the amount of €4 million (30 million DKK). The money comes from Idinvest Partners and Sunstone Capital. It will be put towards further product development and market expansion in Europe and the US. The team also plans to expand sales and operations in London.

Founded by Phillip Chambers and Kasper Hulthin, previously of Podio, together with Christian Holm and Dan Rogers from Songkick, Peakon aspires to level up understanding of employee engagement with the help of data.

“We want to bring the same level of analytics, sophistication, and scientific rigour to managing people as is currently applied to managing finance and customers,” shared Peakon co-founder Dan Rogers in TechCrunch.

“To give a concrete example; in the same way that customer preferences vary wildly — some want cheaper prices, some want a cool brand, some want great customer service — employee preferences also vary wildly; some want career growth, some want status, some want interesting work, and some just want a pay rise.”