Ra’anana-based Centrical said Wednesday it had secured a $32 million funding round led by Intel Capital, a new investor, and JVP, the company’s largest shareholder.
The round also included participation from C4 Ventures and Citi Ventures, also new investors, as well as existing investors Aleph, CE Ventures, La Maison Compagnie d’Investissment and 2B Angels.
Centrical’s Employee-Centric Success platform helps companies motivate employees to exceed their own key performance indicators (KPIs). It does this by blending advanced gamification with personalized micro learning and real-time employee performance management, as well as adaptive coaching tools, and well-being strategies, the company said.
Centrical claims that its platform has led to increases of 12% in employee productivity, 20% for average deal values, 30% faster onboarding, and 12% better customer satisfaction KPIs.
Centrical, formerly known as GamEffective, said it will use this investment to accelerate market engagement, enter new markets, and develop new products. The company said it saw sixfold growth in its usage by customer employees during 2020.
Among its clients, Centrical said that Microsoft reported a 10% increase in the productivity of its contact center advocates, and a reduction of 12% in short-term absenteeism, with 89% of its team saying they were well informed of work-related updates.
Verizon’s largest authorized phone retailer said it saw a 53% increase in new handset sales, and twice as many ancillary products sales due to its use of the platform, Centrical said.
“Centrical is liberating and revolutionizing the lives and performance of frontline employees in large organizations. So often, these key employees are burned out, feel they’re not getting the right attention, don’t understand the goals of the organization, and do not receive sufficient training,” said Erel Margalit, JVP’s founder and executive chairman, who is Centrical’s board chairman.
“With the Centrical platform, employees are enabled to thrive by working together, while simultaneously creating a language through which their managers are able to empower and support them, aligning their personal goals within the framework of the larger objectives and milestones of the organization.
“With so many employees working from home these days, this sense of connection is needed now, more than ever, as you simply cannot win a game alone: passing, blocking and screening are all necessary actions for the team, if they’re going to score and win the game.”