From time to timeThe manufacturer of guidance software, based in Bellevue, Washington, announced $78 million in new funding on Wednesday and plans to expand its platform as hybrid work becomes more mainstream.
Chronus provides digital tools to help companies run employee development programs for coaching and coaching.Huge new investment from New York and San Francisco Horizontal equity.
As the COVID-19 pandemic shifts to more remote and mixed work environments, and in the ongoing call for greater inclusiveness in the workplace, the demand for Chronus products has accelerated. Chronus integrates with workforce technologies including Microsoft Teams, Slack and Zoom, and also holds its own in-platform video conference called Virtual Meet.
The company also helps companies through training programs related to retention, talent development and diversity, fairness and inclusiveness.
Chief Executive Officer Sina Motazawi Said that Chronus distinguishes itself from its competitors with its DEI function, a platform that can be configured and expanded according to the needs of the organization, and powerful analysis capabilities.
He said that the new funds will be used to make more investments in the platform, expand the sales and marketing team and add more employees.
Customers include Amazon, Hearst Communications, McGraw Hill, etc.
Chronus was founded in 2007 and has approximately 85 employees, of which 35 are in the United States and 50 are in India.
The company has been self-reliant until 2015 when it was acquired by a search fund led by Mortazavi for an undisclosed amount. Chronus did not accept venture capital, and Level Equity’s cash was Chronus’ first major investment.
Mortazavi said that Chronus has set record revenue in three of the past four quarters.