TORONTO, ON – We are pleased to announce that Updata Partners VII has led an investment of $55 million into Toronto, Ontario-based ContactMonkey. The Company provides an omnichannel internal communications platform that helps connect and engage employees no matter where they are located.
As workforces have become more distributed, employee communication and engagement has become critical. Native to Outlook and Gmail with seamless integrations into SMS and HRIS platforms, ContactMonkey’s drag-and-drop interface streamlines communication and ensures essential company announcements, life-saving alerts, and critical updates are delivered promptly and effectively to all employees. In addition, ContactMonkey provides internal communications and HR teams with data-driven insights that help refine and personalize communications efforts to optimize engagement.
ContactMonkey’s capital efficient growth and impressive unit economics align with the characteristics Updata looks for in investment opportunities. Bootstrapped prior to our investment, the Company is profitable and has grown 330% in the past three years. ContactMonkey will continue to invest in sales and marketing, as well as expand the product roadmap to meet the needs of its global customer base.
Updata will be represented on ContactMonkey’s board by Partner Braden Snyder, Operating Partner Sloan Gaon, and Vice President Alex Phelan. We look forward to supporting the Company’s continued success.
The Company’s press release can be found here.