31.03.2021

Luther advises Staffbase on Series D financing by US investor

Cologne – The Chemnitz-based start-up Staffbase has closed a new financing round with a volume of around 145 million US dollars, led by US financial investor General Atlantic. As in previous rounds, the fast-growing technology company was advised by Luther Rechtsanwaltsgesellschaft in the preparation of the deal.

In addition to General Atlantic, the existing investors Insight Partners and e.ventures are also participating in the capital increase. The investors Kizoo and Capnamic, who joined in the first financing rounds, remain invested. In the previous four rounds before General Atlantic's entry, the start-up had already received 50 million US dollars in financing.

Staffbase offers digital solutions for internal corporate communication. Its customers include Adidas, Audi, Deutsche Post DHL and Ikea. The company also benefited from the spread of the home office during the Corona pandemic. Since its founding in 2014, the company has grown by more than 50 per cent every year. Staffbase's workforce now includes 450 employees at eleven locations – headquartered in Chemnitz and with offices e. g. in London and New York.

At the beginning of March 2021, Staffbase merged with Bananatag, the leading Canadian provider of internal corporate communications. Luther also advised Staffbase on this transaction, together with the Canadian law firm Stikeman Elliot.

On behalf of Staffbase:

Luther, Corporate/M&A: Philipp Dietz, LL.M. (Partner, Lead), Michael Ströbel, LL.M. (Senior Associate), Philipp Glock (Senior Associate), Falco Rohrberg, LL.M. (Associate).