Emtrain Raises $8M in Growth Capital to Accelerate Workplace Culture Health Via Data, Analytics and Benchmarking
Data-driven CultureTech platform sees increasing demand as global pandemic creates significant new workplace culture challenges
May 06, 2020, 08:38 ET
SAN FRANCISCO, May 6, 2020 /PRNewswire/ -- Emtrain, an online workplace culture platform that helps companies diagnose, benchmark and prevent bad workplace culture outcomes, today announced it received $8 million in growth capital funding, led by Education Growth Partners ("EGP"), a private equity firm dedicated to providing growth capital to proven, high potential human development and workplace companies. Signature Bank, a New York-based full-service commercial bank with 31 private client offices nationwide, serves as Emtrain's banker and provided a $2 million facility to complement the equity investment.
The new funding will enable Emtrain to expand its culture tech platform to provide on-demand monitoring and analysis of key indicators that are the foundation of healthy workplace culture. Not only does Emtrain's solution meet increasing state and federal compliance training regulations, but it also diagnoses issues that are otherwise invisible to business leaders and benchmarks those issues against a global average so that internal stakeholders know where to focus their time and attention for maximum and measurable results. The diagnostic tool and data provide a win/win for employers and employees who both want to prevent these issues but lack the visibility, tools and organizational structure to do so effectively.
Emtrain's recently launched Emtrain.ai solution has already collected over seven million employee sentiment responses about core culture indicators that exist in organizations such as power dynamics; in-group/out-group dynamics; unconscious biases and other indicators that correlate with a higher risk for bad culture outcomes. The company's initial report, Emtrain's 2020 Workplace Culture Report, published in March, shows that only 17% of employees will report sexual harassment to HR if they see or experience it. Other data is consistent in that it shows employees don't typically report problems. The result is these problems remain invisible to HR and compliance leaders until there's an explosive incident that rocks the culture.
"Our changing demographics, social norms and current tough business climate require a better solution to educate employees of their rights and responsibilities and how to be a culture leader while informing employers where they need to focus their time and attention to support a healthy culture," said Janine Yancey, Founder and CEO of Emtrain. "U.S. businesses spend five billion dollars each year on compliance training without getting real business value; no business intelligence, no benchmarking, no evidence of behavior modification, nothing but a completion certificate. Business leaders are increasingly demanding business value from these programs and a way to solve behavioral problems before they turn into bad outcomes. Emtrain uses data, analytics, and benchmarking to show companies where they are vulnerable and how to address their hotspots in a proactive way."
"Janine has a bold, unique vision on how to change the way organizations identify their risk and prevent complex culture issues from becoming damaging," said EGP Managing Partner Peter Campbell. "Janine Yancey and her team have developed their predictive frameworks and data sets over 15 years, and have now built a breakthrough product that anticipates where the market has moved. We're excited to add considerable capital and our expertise in learning and behavioral change to Emtrain as they change the way employers and employees interact to prevent harassment, bias, ethical lapses and other bad culture outcomes."
Emtrain's workplace culture platform reinvents compliance training with provocative content that sparks dialogue and unique culture analytics that drive individual and organizational behavior change. Emtrain.ai allows you to benchmark your culture against our global community to identify issues before they become toxic problems that become compliance issues and destroy culture. Emtrain partners with industry experts and uses current events to teach on topics such as sexual harassment, unconscious bias, and ethics. Emtrain's innovative platform is used by more than 800 companies, such as Netflix, Yelp, Dolby, LiveNation, and others. Recognized by Fast Company as an Honorable Mention in its "World Changing Ideas 2020" list, Emtrain is a woman-owned and women-led company.
About Education Growth Partners
Education Growth Partners ("EGP") is a private equity firm dedicated to providing growth capital to proven, high potential learning, data and knowledge, and workplace companies that offer compelling solutions to unmet needs. The extensive operating experience and investment expertise of Education Growth Partners' team ensures its companies receive an infusion of highly strategic capital and insight that can accelerate their reach, scale and impact to create long-term value.
About Signature Bank
Signature Bank, member FDIC, is a New York-based full-service commercial bank with 31 private client offices throughout the New York metropolitan area and Connecticut as well as San Francisco. The Bank's growing network of private client banking teams serves the needs of privately-owned businesses, their owners and senior managers. Its Venture Banking Group serves venture capital firms and the portfolio companies in which they invest while its Fund Banking Division provides financing and banking services to the private equity industry. For more information, please visit www.signatureny.com.
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