Mentoring software maker Chronus raises $78M as hybrid workforce and DEI needs drive demand

Seena Mortzavi, CEO of Chronus. (Chronus photo)

Chronus, the Bellevue, Washington-based maker of mentoring software, announced on Wednesday a new $ 78 million funding.

Chronus offers digital tools that support companies in implementing employee development programs for mentoring and coaching. The strong new investment comes from Level Equity from New York and San Francisco.

Demand for Chronus products has accelerated during the shift of the COVID-19 pandemic to more remote and hybrid work environments, as well as the ongoing call for more inclusiveness in the workplace. Chronus can be integrated with workforce technology such as Microsoft Teams, Slack and Zoom and also hosts its own on-platform video conference called Virtual Meet.

The company also supports companies with training programs on retention, talent development and diversity, equity and inclusion.

Chronus CEO Seena Mortazavi said Chronus stands out from the competition with its DEI capabilities, a platform that can be configured and scaled based on a company’s needs, and robust analytics.

He said the new funds will be used to invest more in the platform, expand sales and marketing teams, and hire more people.

Customers include Amazon, Hearst Communications, McGraw Hill, and more.

Chronus was founded in 2007 and employs around 85 people, 35 of them in the USA and 50 in India.

The company booted until 2015 when it was acquired by a Mortazavi-led search fund for an undisclosed amount. Chronus has not raised any venture capital and the Level Equity cash will be the first significant investment in Chronus.

Mortazavi said Chronus had record sales in three of the last four quarters.

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