A Denver software startup has raised one of the largest venture rounds by a women-led technology company in the state’s history by bringing on a $45 million Series B that will help it double its staff and expand its employee training product.
Spekit, founded in 2018 by CEO Melanie Fellay and Zari Zahra announced Wednesday that it has raised a $45 million Series B that brings its total funding to $60 million. The round was led by Craft Ventures, with participation from Felicis, Operator Collective, Matchstick Ventures, Renegade Partners, Foundry Group and Bonfire Ventures.
The company has seen tremendous interest in its product since the state of Covid-19, providing a key tool for the remote and dispersed workforce.
The company’s training and learning platform gives employees answers to their most common questions in an easy-to-understand way. Spekit’s platform offers contextual training, processes and guidance within the applications that employees use every day.
So, if an employee needs help creating a quote in Salesforce, Spekit takes the place of traditional PowerPoint training sessions and helps them find the answer.
Since raising its $12.2M Series A funding round in March 2021, Spekit has tripled its employee headcount to more than 130 employees and grown revenue more than 300% year-over-year. The company also has major customers including Uber Freight, Snowflake, Outreach, Southwest Airlines and Invesco.
With that momentum, Fellay knew it was the right time to bring on capital.
“We beat pretty much every goal we set the last three quarters,” she said. “We were getting approached by a lot of investors and we were looking at our growth plans and projections and it feels like we have the engine going. We knew where we needed to invest from an R&D and go-to-market standpoint to see our growth catapult.”
This round will help the company continue growing its team and expand its platform as Fellay says Spekit wants to “radically reimagine how learning looks like at work.”
In the initial part of the pandemic, Spekit saw great interest from its customers as it provided a learning tool for the remote workforce. While that has continued, Fellay said the company has seen an additional value in its product helping to retain employees.
Fellay said Spekit has been shown to improve employee retention for the companies that use it, offering a learning tool that empowers employees to be successful.
“Your onboarding and training experience definitely correlate to retention,” she said.
With this capital onboard, Spekit is looking to double its headcount once again, with a priority put on building out its go-to-market teams in Denver. The company is remote-forward, Fellay said, but is continuing to grow in its Denver headquarters.
Brian Murray, partner and COO at Craft Ventures, will be joining the Spekit board.
“Spekit is pioneering the future of workplace learning with their native, just-in-time enablement platform,” he said. “Melanie and Zari are a powerhouse duo: clear vision, A+ product, cult-like customer happiness, and a buzzing team culture. We’re thrilled to join Spekit as they make the tools we use more accessible and powerful.”
