Raydiant, who describe themselves as a leading digital experience platform provider, has announced its acquisition of Hoopla, a performance management and motivation platform.
Bobby Marhamat, Raydiant’s CEO told us “This acquisition marks the first major milestone in Raydiant’s 2021 growth strategy. We initially partnered with Hoopla because a big need from our customers was to display performance metrics, to engage employees and establish a winning culture. As we worked together, we realized there is a much bigger opportunity to enable the future of work. The addition of Hoopla enhances our ability to better serve the growing needs of all of our customers — in the office, working remotely, and for our brick-and-mortar customers that have asked for back-office solutions.”
We understand that Hoopla combines data intelligence, motivational psychology and modern game mechanics in a powerfully simple application that makes it easy for managers to motivate team performance from anywhere. Engaged and motivated teams grow profits three times faster than competitors, have double the sales, are 38 percent more productive, and report 46 percent less turnover. Hoopla has hundreds of customers around the world and many report impressive performance gains of 35 percent and more.
Mike Smalls, CEO of Hoopla said “We are thrilled to be joining the Raydiant family. After listening to our customers and hearing about their challenges as they plan to reopen offices, we came to the conclusion that joining forces with Raydiant was the best way for us to deliver the best solutions to address those challenges and achieve our aggressive growth objectives.”
The acquisition is Raydiant’s first following last month’s closing of its $13M series A funding round. The new capital will be used to further invest in product development and expand Raydiant’s go-to-market team. New service offerings, such as Hoopla’s team performance tools, focus on bridging the gap between offline and online experiences and increasing productivity.
Raydiant’s Experience Management Platform enables organizations to build strong, long-lasting relationships with their employees and customers by helping them create memorable, interactive experiences both in-location and in the workplace. Their easy-to-use, plug-and-play, cloud-based solution empowers Raydiant customers to create, manage and scale experiences across 1 or 100,000 locations anytime, anywhere. Founded in April 2017, Raydiant is backed by notable investors, including Bloomberg Beta, Lerer Hippeau, Transmedia Capital, 8VC, Atomic Ventures, and Ron Conway.