SAN FRANCISCO and SAN BRUNO, Calif., June 8, 2021 /PRNewswire/ — SocialChorus and Dynamic Signal, two high-growth SaaS leaders in the digital employee experience (DEX) space, announced today that they have entered into a definitive merger agreement. Sumeru Equity Partners (SEP) will make a significant new growth investment in SocialChorus and subsequently fund the combination with Dynamic Signal. In addition, senior management and existing investors of both companies will invest a meaningful stake into the transaction. Additional terms of the transaction were not disclosed.
SocialChorus and Dynamic Signal joining forces is a leap forward in the mission to transform how companies connect every worker with the right information at the right time. This combination will accelerate the move away from destination site delivery models to an orchestrated digital employee experience that fosters employee productivity and well-being.
“The digital employee experience of an organization is not a destination, it’s an expectation and experience that meets the needs of a distributed and diverse workforce,” said Gary Nakamura, CEO of SocialChorus. “To truly solve the problem, meeting workers where they are with personalized information and resources is critical. The combination of SocialChorus and Dynamic Signal presents a huge opportunity for growth and innovation on the journey to give customers what they need to create an unparalleled digital employee experience.”
SocialChorus and Dynamic Signal will unite under the leadership of Gary Nakamura, CEO of SocialChorus, and an executive team comprised of Dynamic Signal and SocialChorus team members. Three representatives from the Dynamic Signal board of directors, including Eric Brown, CEO of Dynamic Signal, will join the current SocialChorus board of directors to form the board of the combined company.
SEP, majority investor in SocialChorus, has experienced strong success in driving growth and scaling operations. Mark Haller, Principal of SEP stated, “The digital employee experience space is fast-growing and dynamic, and we believe the combination of talent and product innovation will significantly enhance our offerings for customers. We are excited to bring SEP’s operational expertise to create a world-class organization to lead a new chapter of continued growth.”
After closing, the combined organization is expected to scale rapidly with additional resources to accelerate investments in product development and customer service innovation. The combined organization will continue to support solutions across their respective platforms and will serve more than 500 customers and reach over 15 million employees globally.
“I am incredibly excited that Dynamic Signal and SocialChorus are combining to create the best platform in the industry,” added Brown. “Together, we will build on the shared belief that organizations must create a digital employee experience that lifts all workers, giving them equitable access to information and a voice in the conversations that move their company and cultures.”
J.P. Morgan is serving as exclusive financial advisor to Dynamic Signal and Fenwick & West is serving as legal counsel. GCA Advisors is serving as exclusive financial advisor to SocialChorus and Weil, Gotshal & Manges is serving as legal counsel. The closing of the merger is expected in Q3 and remains subject to customary regulatory and other approvals.
SocialChorus is the creator of FirstUp, the platform that makes the digital employee experience work for every worker. Using our powerful orchestration engine, we bring personalized information and systems access to every employee where they are—on any endpoint or device, in any language, anywhere in the world. Whether they’re wired, mobile, frontline, distributed or essential, FirstUp gives employees what they need to do their jobs efficiently, and companies what they need to achieve agility. That’s how we help enterprise customers like Amazon, ABInBev, Ford and GSK continue to transform their businesses. Learn more at www.socialchorus.com.
About Dynamic Signal
Dynamic Signal is a leading Employee Communication and Engagement Platform, committed to creating a connected, inclusive, and engaged workforce where people feel valued and empowered to be their best. From factory workers and field employees, to knowledge workers in any time zone, hundreds of companies across every industry depend on Dynamic Signal’s award-winning mobile, desktop, and web applications to reach each employee and build aligned, productive, actively engaged communities and employee advocates. Founded in 2010, and based in Silicon Valley, Dynamic Signal integrates with leading enterprise systems and works with organizations around the globe, who trust Dynamic Signal’s technology, services, support, and education to elevate the employee experience and drive transformative business results. www.dynamicsignal.com.
About Sumeru Equity Partners
Sumeru Equity Partners (SEP) provides growth capital, strategic insight, and operating expertise to enterprise technology companies in North America and Europe. Our experienced team partners with founders and company management to grow their business, build innovative products that delight customers, and hire great people. For more information, please visit www.sumeruequity.com.
SOURCE SocialChorus and Dynamic Signal