NewSpring, a family of private equity funds, announced today that NewSpring Growth, the Firm’s dedicated growth and expansion stage fund, has led a $10 million equity investment into Energage. Proceeds will be used to help drive continued growth, with a specific focus on sales, marketing, and product development.
Formerly WorkplaceDynamics, Energage has built an unmatched reputation in the employee engagement market, offering products such as workplace surveys, enablement tools, and culture-building domain expertise. Energage is the trusted survey provider behind the Top Workplaces program, partnering with major media organizations such as the Washington Post, the Boston Globe, and the Chicago Tribune to provide exceptional companies with actionable employee engagement insights.
Additionally, the Company has developed a suite of software products allowing clients to manage the full engagement lifecycle.
“For more than a decade, Energage has worked to provide organizations with the resources to encourage employees to maximize their potential and achieve great things,” said Michael DiPiano, NewSpring Managing Partner. “With this latest step forward, Energage has positioned itself as a market-leading employee engagement platform focused on creating work environments that foster better business outcomes.”
“The support we have received from NewSpring will provide us with the additional resources needed to build upon our trusted survey products to help create more meaningful conversations between managers and employees that inspire people and energize organizations,” said Doug Claffey, CEO of Energage.
As part of the transaction, Michael DiPiano will join the Energage Board of Directors.
The Energage platform helps workplaces realize their full potential by combining cutting-edge technology, Top Workplaces insights, and personalized guidance to engage employees and enable them for success. The offering combines neuroscience, organizational development, and over 14 million survey responses into clear next steps for companies to develop an employee-centric approach to managing their teams. For more information, visit www.energage.com.
Founded in 1999, NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages approximately $1.7 billion across four distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. When NewSpring invests, they bring a wealth of knowledge, experience, and resources to take growing companies to the next level and beyond. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. Visit NewSpring at www.newspringcapital.com.