Culture Amp cuts 60 jobs as AI focus grows
Melbourne's Culture Amp has cut roughly 60 roles amid a push into AI products like AI Coach; the piece also recalls its 2019 Series E, 2021 Series F and $2 billion valuation.
Investor · 4 deals
Double Bay, NSW
Every published round TDM Growth Partners took part in, and every parcel of existing shares it bought off another holder. Deals we hold but haven't published yet are not counted.
| Company | Stage | Announced | Amount | Role | Alongside | Sources |
|---|---|---|---|---|---|---|
| Guzman y Gomez | Unnamed stage | Apr 2024 | $134.5m | Participant | SmartCompany, TDM Growth Partners portfolio | |
| Pet Circle | Series C | Nov 2021 | $125m | Lead | Startup Daily (20 Aug 2025), SmartCompany (10 Jul 2023), SmartCompany (7 Jul 2023), Forbes Australia (3 Jul 2023), Forbes Australia (3 Jul 2023), petnews.com.au, Business News Australia (3 Jul 2023), SmartCompany (10 May 2023), Techboard, Startup Daily (13 Dec 2021), SmartCompany (10 Dec 2021), SmartCompany (7 Dec 2021), Startup Daily (7 Dec 2021), Business News Australia (7 Dec 2021), AirTree Ventures portfolio, TDM Growth Partners portfolio | |
| Rokt | Series C | 4Q 2019 | $70m | Lead | Startup Daily (19 Jan 2025), Startup Daily (6 Dec 2022), Square Peg Capital, Startup Daily (17 Dec 2021) | |
| Guzman y Gomez | Unnamed stage | Aug 2018 | $44m | Lead | TDM Growth Partners portfolio, SmartCompany (21 Jun 2024), SmartCompany (19 Jan 2024) |
Companies TDM Growth Partners has backed in a published round, and companies whose existing shares it bought off another holder.
| Company | What it does | First invested | Rounds | Led |
|---|---|---|---|---|
| Guzman y Gomez | Aug 2018 | 2 | 1 | |
| Rokt | E-commerce marketing technology platform | 4Q 2019, Series C | 1 | 1 |
| Pet Circle | online pet retail startup | Nov 2021, Series C | 1 | 1 |
Companies TDM Growth Partners's own portfolio page lists that no published round yet places it in. The page is the source; the round is being looked for.
| Company | Site |
|---|---|
| Aconex | - |
| Baby Bunting | - |
| Block | - |
| Culture Amp | - |
| Cvent | - |
| Ellie Mae | - |
| League | - |
| MADE WITH SOUL | soulstudio.co ↗ |
| Mindbody | - |
| Mineral Resources | - |
| Slack | - |
| Spotify | - |
Fund closes reported for TDM Growth Partners, as distinct from the investments it has made.
Companies TDM Growth Partners has backed that another company then bought. An exit for the holding, not a deal TDM Growth Partners did.
| Name | Role | Sources |
|---|---|---|
| Ben Gisz | Partner | Startup Daily, Business News Australia |
Stories naming TDM Growth Partners. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Melbourne's Culture Amp has cut roughly 60 roles amid a push into AI products like AI Coach; the piece also recalls its 2019 Series E, 2021 Series F and $2 billion valuation.
TDM's podcast revisits Rokt chief executive Bruce Buchanan, covering the company's pandemic-era rebound, retail push, AI product suite and two-sided marketplace strategy, plus its early-2019 purchase of OfferLogic.
TDM's post marks Guzman y Gomez's 2024 ASX debut at a $3 billion valuation, the biggest local listing since 2021, recalling TDM's 2018 backing and naming new institutional holders of the $335m offer.
Weekly roundup of four raises: Guzman y Gomez banked $134.5 million at a $1.73 billion valuation, Honey Insurance sealed a $108 million Series A, Skin2Neuron gathered $4 million, and AVESS Energy took $1 million.
An analysis of Guzman Y Gomez's financials ahead of a rumoured IPO, covering its franchise economics, store buybacks and earlier raises and stake sales by TDM, Magellan and Aware Super.
Investor's own year in review: five new portfolio companies, a follow-on into ULUU, the Verve Super exit, the Equity Clear gender-reporting initiative, a first founders' retreat, and a sweep of awards for portfolio companies.
Also OIF Ventures portfolio·Alberts Impact Ventures portfolio·Alberts Impact Ventures portfolio·SmartCompany·Startup Daily·SmartCompany·Women's Agenda·Crunchbase News
Forbes Australia profiles the ex-Jetstar chief who co-founded Rokt, recalling the checkout-personalisation firm's late-2021 raise of $458 million at a $2.75 billion valuation, led by Tiger Global, and his path from consulting to unicorns.
Square Peg's retrospective of 2019: five new portfolio companies, several large rounds it led or co-led, two acquisitions, two IPOs, new team members, and its capital deployed across new and follow-on deals.
Also Startup Daily·Square Peg Capital·Startup Daily·Startup Daily·Startup Daily·SmartCompany·Startup Daily·Startup Daily·SmartCompany·SmartCompany·Startup Daily·SmartCompany·Startup Daily·SmartCompany
Aura Group's year-end reflection argues strong culture drives startup success, citing Culture Amp's recently announced $100 million Series F at a $1.5 billion valuation and academic studies linking founder-set culture to outcomes.
Weekly roundup reporting many startup funding rounds, Investible's fund close, Skalata's committed capital, hipages buying Builderscrack, Stack Sports acquiring Team App, and Level Equity's stake purchase in Eftsure.
Also SmartCompany·Startup Daily·Startup Daily·SmartCompany·Startup Daily
Online pet supplies retailer Pet Circle announced a $125 million Series C led by Prysm Capital and TDM Growth Partners, with AirTree and new backer Baillie Gifford participating, valuing the company above a billion dollars.
Also SmartCompany·Business News Australia·SmartCompany·Startup Daily·Techboard·SmartCompany·SmartCompany·Startup Daily·Business News Australia·petnews.com.au·Forbes Australia·Forbes Australia·SmartCompany
Sydney pet-care platform Pet Circle has raised $125 million in a Series C round backed by Prysm Capital, TDM Growth Partners, Baillie Gifford and AirTree Ventures, reaching unicorn status.
Also SmartCompany
Cut Through Venture's debut quarterly newsletter rounds up Q1 2021 raises across Australian and New Zealand startups, highlighting crowdfunding, fintech dominance, active investors, and two newly launched startups currently seeking backers.
Also OIF Ventures portfolio·Startup Daily·Startup Daily·Startup Daily·Startup Daily·Startup Daily·SmartCompany·Startup Daily·SmartCompany·SmartCompany·Startup Daily·Startup Daily·SmartCompany·Startup Daily·Startup Daily·Startup Daily·Startup Daily·Startup Daily·Startup Daily·SmartCompany·Startup Daily·Startup Daily·Startup Daily·Startup Daily·Startup Daily·TechCrunch Australia·TechCrunch Australia·TechCrunch Australia·@AuManufacturing·@AuManufacturing·@AuManufacturing·LaunchVic