ContactMonkey

ContactMonkey

Enhances internal communications and engagement

About ContactMonkey

Simplify's Rating
Why ContactMonkey is rated
B-
Rated C on Competitive Edge
Rated B on Growth Potential
Rated B on Differentiation

Industries

Data & Analytics

Enterprise Software

Company Size

51-200

Company Stage

Series A

Total Funding

$55.8M

Headquarters

Toronto, Canada

Founded

2010

Overview

ContactMonkey enhances internal communications within organizations by providing tools that streamline employee interactions, gather feedback, and measure engagement. Their main product is a drag-and-drop email builder that enables companies to create and send engaging newsletters and surveys to employees. This tool also offers detailed analytics, including open rates, click rates, and employee Net Promoter Scores (eNPS), which help organizations gauge employee engagement levels. Unlike many competitors, ContactMonkey serves a diverse range of clients, from small businesses to large enterprises, and operates in the growing internal communications and employee engagement sector. Their subscription-based business model ensures a steady revenue stream, allowing for continuous improvement of their platform. The goal of ContactMonkey is to foster a more connected and productive workforce by enhancing communication and engagement within organizations.

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Simplify's Take

What believers are saying

  • ContactMonkey raised $55 million in Series A funding for global expansion.
  • Ranked 360 on the 2024 Deloitte Technology Fast 500, showcasing rapid growth.
  • Increased demand for remote work tools boosts adoption of internal communication platforms.

What critics are saying

  • Emerging startups with similar tools threaten ContactMonkey's market share.
  • Data privacy concerns in the EU may impact engagement tracking capabilities.
  • Economic downturns could reduce client spending on internal communication tools.

What makes ContactMonkey unique

  • ContactMonkey integrates seamlessly with Outlook and Gmail for easy email tracking.
  • The platform offers a drag-and-drop email builder for creating engaging newsletters.
  • Detailed analytics, including eNPS, provide insights into employee engagement.

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Funding

Total Funding

$55.8M

Above

Industry Average

Funded Over

2 Rounds

Series A funding typically happens when a startup has a product and some customers, and now needs funding to scale. This money is usually used to grow the team, expand marketing, and improve the product. Venture capital firms are frequently the main investors here.
Series A Funding Comparison
Above Average

Industry standards

$15M
$8.2M
Discord
$15M
Canva
$30M
Kalshi
$55M
ContactMonkey

Benefits

Health Insurance

Health Savings Account/Flexible Spending Account

Stock Options

Paid Vacation

Professional Development Budget

Flexible Work Hours

Paid Sick Leave

Hybrid Work Options

Growth & Insights and Company News

Headcount

6 month growth

↑ 0%

1 year growth

↑ 0%

2 year growth

↑ 16%
Business Wire
May 16th, 2025
CIBC Innovation Banking Provides ContactMonkey with Growth Capital Financing

CIBC Innovation Banking announced today that it has provided growth capital financing to ContactMonkey, a portfolio company of Updata Partners. The company w...

Finsmes
May 16th, 2025
ContactMonkey Secures Funding for Global Expansion

ContactMonkey, a Toronto-based internal email platform provider, received an undisclosed investment from CIBC Innovation Banking. The funding will be used to expand its global business reach and enhance product offerings for new and existing customers.

Business Wire
May 15th, 2025
CIBC Funds ContactMonkey for Global Expansion

CIBC Innovation Banking has provided growth capital financing to ContactMonkey, a portfolio company of Updata Partners. The funding will be used to expand ContactMonkey's global reach and enhance its product offerings for both new and existing clients worldwide.

ContactMonkey
Nov 21st, 2024
ContactMonkey Ranked Number 360 Fastest-Growing Company in North America on the 2024 Deloitte Technology Fast 500(TM)

ContactMonkey ranked number 360 fastest-growing company in North America on the 2024 Deloitte Technology Fast 500(TM).

Tech Talent Canada
Dec 8th, 2023
Toronto's ContactMonkey Raises $55 Million and Plans To Hire 80 in 2024

Toronto's ContactMonkey raises $55 million and plans to hire 80 in 2024.

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