This post is by Russ Garland from Venture Capital Dispatch
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Wish you knew what your employees were really thinking? Culture Amp wants to help. The startup’s software administers surveys designed to gauge whether employees they feel motivated and valued, or feel like cogs in a machine. The program relays the data to managers anonymously and lets them visualize it for insights on improving employee engagement and retention. The company, incorporated as Culture Amp Pty. Ltd., has raised a $10 million Series B round led by Index Ventures. “We’re trying to do for our clients what Lazlo Bock is doing at Google,” said Culture Amp Chief Executive Didier Elzinga, referring to the employee-engagement approach attributed to Google’s senior vice president of people operations.
ALSO IN TODAY’S VENTUREWIRE (subscription required):
New York-based Exo Inc. has raised $4 million in Series A funding to make protein bars, and other food products, from insects. AccelFoods led the investment joined by Collaborative Fund and a long list of angel investors including hip hop artist Nas, NBA athlete Carmelo Anthony and author Tim Ferriss.
GV Partner Rich Miner joined the board of newly renamed Switch Communications. The two-year-old enterprise telecommunications startup is now incorporated as DialPad Inc.
With startups looking to introduce the first drug therapies for hearing loss, venture investment in medical products for the ear reached $115 million in 2015, the second-highest level on record, according to Dow Jones VentureSource.
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ELSEWHERE AROUND THE WEB:
Snapchat Raises $175 Million From Fidelity at Flat Valuation. Snapchat Inc. has raised $175 million in fresh funding from Fidelity Investments, valuing the messaging company at the same $16 billion valuation from one year ago, a person familiar with the matter told The Wall Street Journal.
Drone Makers Have Eyes for Asia’s Skies. From splashy flagship store openings to flying lessons and rental services, some drone companies are vying for new customers in Asia as competition intensifies in the U.S., the world’s biggest market
Russian Entrepreneurs Set Sights Closer to Home. A growing number of Russian entrepreneurs are eschewing Silicon Valley and even Moscow, drawing instead on often-remote towns, including Russia’s network of Soviet-era hubs of scientific research.
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