Peakon was acquired by Workday for $700 million.

Peakon, a Copenhagen, Denmark-based-based SAAS developer of a employee success platform, announced that it was acquired by the US-based Workday.

The deal was made for consideration of about $700 million in an all-cash transaction.

Peakon, founded in 2014 by CEO Phil Chambers, Christian Holm, Dan Rogers and Kasper Hulthin, developed an employee success platform that converts feedback into insights you can put to work. It makes the employee conversation quantifiable and actionable to increase employee engagement – not simply measure it.

Customers include organizations like Capgemini, The Adecco Group, Delivery Hero, Staples and easyJet, which produced revenues of DKK 122.2 million ($20M) and 200 FTEs in FY 2019.

Peakon raised about $70M in venture funding and was backed by a range of European investors including Atomico, Balderton Capital, EQT Ventures, Heartcore and Idinvest Partners.