Chronus, the Bellevue, Wash.-based maker of mentoring software program, introduced 78 million in new funding on Wednesday, with plans to develop its platform as hybrid work turns into extra mainstream.
Chronus gives digital instruments to assist companies run worker improvement applications for mentoring and training. The hefty new funding comes from New York- and San Francisco-based Level Equity.
The demand for Chronus’ product has accelerated in the course of the COVID-19 pandemic’s shift to extra distant and hybrid work environments as nicely in the course of the ongoing name for extra office inclusivity. Chronus integrates with workforce tech together with Microsoft Groups, Slack and Zoom and likewise hosts its personal in-platform video conferencing known as Digital Meet.
The corporate additionally helps companies with coaching applications on retention, expertise improvement and variety, fairness and inclusion.
Chronus CEO Seena Mortazavi stated that Chronus units itself other than rivals with its DEI capabilities, a platform that may be configured and scaled relying on a company’s wants, and sturdy analytics.
He stated that the brand new funding will probably be used to take a position extra within the platform, develop gross sales and advertising groups and add extra workers.
Clients embrace Amazon, Hearst Communications, McGraw Hill and extra.
Based in 2007, Chronus employs about 85 individuals, with 35 within the U.S. and 50 in India.
The corporate was bootstrapped till 2015 when it was acquired for an undisclosed quantity by a search fund led by Mortazavi. Chronus has taken oon no enterprise capital and the money from Degree Fairness is the primary vital funding in Chronus.
Mortazavi stated Chronus reached record-setting income in three out of the final 4 quarters.