If you are an angel Who invested in the startup, which was supposed to be public in 2014, you are probably a little impatient. Investments with a high degree of risk and high profitability have lost their luster in this environment: the stock exchange is in a mess these days, and you want to get your money back.
Take part in recapitalization events where startups restructure their entire investment table to squeeze out old investors, attract new ones and change the way they manage their money and debts. For investors, this is a more killer way to enter the company on more friendly terms than usual (read: despair), and a good way to get liquidity with the startup you are betting on.
This is rarely good news for founders, since outgoing investors are not an indicator that they are going to add to the field. As one investor said, amid events caused by recapitalization events associated with the coronavirus, it demonstrates “breeding Hella in desperate times.”
That’s what does WorkhumanThe transparency of the recent recapitalization event is becoming increasingly enticing.
Last year, the HR platform brought in $ 580 million in revenue from customers such as LinkedIn, Cisco, J&J, and other customers. In April, the business grew by 40%. Co-founder and CEO Eric Mosley says the business has grown five times since the company moved away from its 2014 plans for an IPO. Since 2004, Workhuman has not collected a single venture round (and does not plan in the near future).
Being conservative paid off; though Workhuman According to Mosley, he has been working for almost two decades and believes that the company is still on the “tip of the iceberg”. The company recently held a recapitalization event to sell the shares of its first investors who cut a check for $ 200,000 more than 20 years ago.