Employee success platform Centrical raises $32m

Israeli employee success platform Centrical today announced the closing of a $32 million financing round led by Intel Capital, a new investor, and JVP, the company's largest shareholder. The round also included participation from new investors C4 Ventures and Citi Ventures, and existing investors Aleph, CE Ventures, La Maison Compagnie d'Investissment and 2B Angels. The company will use the funds to speed up market engagement, enter new markets, and enhance customer value by the creation of additional solutions for organizations and their employees who operate in an increasingly hybrid work environment.

In the midst of the Covid pandemic Centrical, formerly known as GamEffective, announced several new modules to its Employee-Centric Success Platform, including Augmented People Intelligence, which combines AI-powered analytics with the creative and empathetic characteristics of human intelligence, adaptive coaching tools, employee engagement, and well-being capabilities - all intended to better enable employees to feel part of their organizations, as well as interact, train, and perform in hybrid workplaces.

JVP founder and executive Chairman who becomes Centrical chairman said, "Centrical is liberating and revolutionizing the lives and performance of frontline employees in large organizations. So often, these key employees are burned out, feel they're not getting the right attention, don't understand the goals of the organization, and do not receive sufficient training. With the Centrical platform, employees are enabled to thrive by working together while simultaneously creating a language by which their managers are able to empower and support them, aligning their personal goals within the framework of the larger objectives and milestones of the organization. With so many employees working from home these days, this sense of connection is needed now more than ever, as you simply cannot win a game alone: passing, blocking and screening are all necessary actions for the team if they're going to score and win the game. And that is the Centrical breakthrough, making this company a category leader."

Centrical saw six-fold growth in use by customer employees during 2020, allowing them to fulfill the key roles they play in the success of their companies.

Centrical founder and CEO Gal Rimon said,"Over the prior eleven months, customer usage of the Centrical platform grew by more than 500%. That's a clear indication Centrical is key to forming performance-driven cultures in businesses. Centrical will dominate the Employee-Centric Success category because of our ability to understand the role employees play in an enterprise, and offer the right way to engage them to create a win-win engagement. This investment lets us bring an even more compelling set of solutions to more organizations to make employees the center of their business success."

Published by Globes, Israel business news - en.globes.co.il - on March 10, 2021