AmplifAI announced Tuesday the closure of an $18.5 million Series A funding round. The round, led by Greycroft, includes $12.5 million in equity funding and $6 million in venture debt from Comerica Bank. LiveOak Venture Partners, Dallas Venture Partners and Capital Factory also participated in the latest funding round.
“We created the category of AI-powered people enablement and continue to prioritize continuous improvement and innovation to maintain our industry leadership,” Sean Minter, CEO and founder of AmplifAI, said in a statement. “This investment aligns with our objectives to enable every organization to better use data to maximize employee and organizational performance.”
AmplifAI offers software that uses AI to monitor worker performance and also gives feedback and suggestions on ways to improve performance. The software works by accumulating data from workers and takes note of high-performing employees. This data is then used to model courses or actionable steps other employees can follow to become high performers as well.
The funding will be used to make further improvements to AmplifAI’s services.
Announcement: AmplifAI Raises $18.5M to Improve Employee Performance