Automated Coaching Platform Cloverleaf Raises $9M in Series A funding to help organizations retain and grow individual employees and teams
09 Jun, 2022, 09:00 ET
CINCINNATI, June 9, 2022 /PRNewswire/ -- Cloverleaf, an automated coaching technology designed to bring out the best in workers and teams, has closed $9M in Series A funding. The round was led by Origin Ventures with the participation of ScOp Ventures, Mucker Capital, Queen City Angels, Airwing Ventures, 1809 and the JobsOhio Growth Capital Fund.
"Since we debuted in 2018 we've seen tremendous positive feedback from teams that use Cloverleaf – over 94 percent of our users reported improved performance," says CEO Darrin Murriner. "With this new round of funding we can continue to build on that momentum and scale up on both our offerings and functionality, which will help grow our userbase and create more diverse and well-rounded coaching products for current and prospective Cloverleaf users."
The Cloverleaf team, led by co-founders CEO Darrin Murriner and COO Kirsten Moorefield, is on a mission to help companies develop and retain staff and teams by unleashing their best work. By leveraging respected psychology data from behavioral assessments such as DISC and Enneagram, Cloverleaf helps coach team members through communication and collaboration tools they use every day, including Google Workplace, Microsoft 365, Slack, and Microsoft Teams.
Major organizations like Monster Energy, HP Enterprise and Kroger have turned to Cloverleaf to scale coaching and maximize employee talent. The platform also helps workplace consultants and coaches access unique insights to the way people and teams work, and helps sustain and scale their practice.
"At the heart of Cloverleaf's mission is to provide managers and teams with tools to help them develop team cohesion, efficiency and understanding," says COO Kirsten Moorefield. "Cloverleaf is designed with every aspect of the employee life cycle in mind – from hiring to mid-career and even at the end of an employment arrangement. We've found that with just one minute of engagement daily, the platform allows everyone to discover their unique talents and skills, and then allows for managers to leverage those skills in ways that are mutually beneficial for employees and team leaders."
Since its previous funding round in 2021, Cloverleaf has increased its revenue by 400 percent, and is expecting continued revenue growth with this new capital. Cloverleaf plans to accelerate its mission through investment in product and technology — specifically to improve contextualization and integration points, as well as to expand coaching content as the company continues to learn more about users and teams. Additionally, plans are in place for the platform to grow its userbase to include thousands of coaches and over 100,000 teams in total.
"Origin Ventures believes Cloverleaf will help transform the work coaching space, which is more important than ever with remote work becoming a staple in the past couple years," says Scott Stern, Partner at Origin Ventures. "Our fund has made multiple investments across the Future of Work, and one issue we ran into over and over in the coaching space is scalability. Cloverleaf's unique approach and mission align closely with how we see the market developing. We're thrilled to be a partner here and believe this funding will help Cloverleaf scale its platform and improve employee and overall teamwork for the modern workplace."
Cloverleaf previously secured funding in 2021 from ScOp Ventures. Prior seed rounds have included funding from Keyhorse Capital, Airwing Ventures, Queen City Angels, CEAS, Connetic Ventures and Stout Street Capital.
Cloverleaf is a powerful coaching tool that unleashes people to do their best work, together. Cloverleaf's technology sends personalized, meaningful coaching tips that leverage respected psychology data from assessments like DISC, Enneagram, and Strengthscope. With a few sentences a day, we help every person tap into their unique value, build understanding, and improve collaboration.
Cloverleaf integrates seamlessly into the systems teams already use every day, including Google Workplace, Microsoft 365 and Slack. Companies like HP Enterprise, Kroger and Monster Energy have already turned to Cloverleaf to maximize their organization's talent. Every month, Cloverleaf sends out millions of tips to more than one million users, 20,000 teams, and hundreds of coaches, helping people at the world's best companies thrive at work.
Origin Ventures is a leading early-stage venture capital firm investing in the Digital Native Economy. The firm partners with elite founding teams building high-growth software, marketplace, and consumer companies defining how Millennial and Gen Z generations live, work, and play. Previous investments include Cameo, Veho, BacklotCars, Fountain, 15Five, Tock, Tovala, Blueboard, Grubhub, and many others. Origin Ventures has offices in all four continental U.S. time zones, investing in the U.S. and Canada.
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