- DTCP divests 2018 investment, which has merged with SocialChorus.
Group investment arm Deutsche Telekom Capital Partners appears to have exited Dynamic Signal, the employee communication and engagement software provider it acquired a stake in during July 2018 (Deutsche Telekomwatch, #75).
Dynamic Signal has now rebranded as firstup.io following a long‑mooted acquisition by US‑based rival‑cum‑partner SocialChorus.
As a result of the transaction, on which financial details were not disclosed, DTCP has divested its holding, according to data from CB Insights.
The 2018 funding round saw DTCP join Adams Street, Cisco Ventures, and Microsoft Ventures to pump $10m (£7.2m/€8.5m) into the US‑based employee engagement specialist (Deutsche Telekomwatch, #75). The funding was raised to support the expansion of its software, which integrates enterprise communication channels onto a centralised platform, into Europe, Middle East, and Africa markets.
Neither party has flagged any engagement beyond the cash injection, which took Dynamic Signal’s total financing to $114.8m.
Post‑merger, firstup.io (whose name derives from SocialChorus’s flagship product FirstUp) claims to count 40% of the Fortune 100 as customers. It lists ABInBev, Amazon, AT&T, Ford, and Pfizer as clients. The FirstUp proposition is billed as technology-agnostic and purports to enable large corporations to share company news and communicate “on any endpoint (i.e., Microsoft Teams, SharePoint, and Slack) or device”, even with staff on the manufacturing floor, for example, via “digital signage and kiosks” in office hallways.
The amalgamation sees Gary Nakamura, SocialChorus’s Chief Executive, take the reigns as CEO. Dynamic Signal CEO Eric Brown, meanwhile, joins firstup.io’s Board of Directors as Executive Chairman.