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Cloverleaf Secures $7.3 Million Series A Extension Led by Advantage Capital

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CINCINNATI, March 27, 2024-- Cloverleaf, the leading automated coaching™ technology designed to bring out the best in workers and teams, announced today that it has secured a $7.3 million Series A extension funding round. The investment was led by Advantage Capital with participation from Conductive Ventures, Origin Ventures, ScOp Venture Capital, JobsOhio, Cintrifuse Capital and 1809 Capital.

The company has tripled its revenue since its previous funding round in June 2022 and is expecting continued revenue growth with this new capital. This round brings Cloverleaf's total funding raised to $20 million to date.

Cloverleaf will use the new financing to further support organizations by extending its core automated coaching solution into even more areas of professional development for everyone in the enterprise.

Cloverleaf, led by co-founders CEO Darrin Murriner and COO Kirsten Moorefield, is on a mission to empower companies in cultivating and retaining high-performing staff and teams, unlocking their full potential. By leveraging respected psychology data from behavioral assessments such as DISC and Enneagram, Cloverleaf provides personalized coaching tips to team members directly in the communication and collaboration tools they use every day, including Google Workplace, Microsoft 365, Slack, and Microsoft Teams.

"High-performing organizations spend heavily on various professional development efforts as a way to upskill their current workforce and help employees realize their potential as a key part of retention and engagement efforts. We aim to bring organizations a solution to provide a personalized development journey to everyone in the organization- not just senior leaders," said Murriner. "The enterprise needs development tools and platforms that scale to the entire organization and aren't just a one-size-fits-all all program."

Over the past year, the Cloverleaf automated workplace coaching platform has undergone significant evolution to further improve personalization by integrating advanced, human-centered AI capabilities to enhance employees' developmental journeys. Cloverleaf has also partnered and integrated with leading people and collaboration platforms in the industry such as the Microsoft suite and Workday.

"We hear over and over from Talent, Development, and Learning leaders that they are disappointed with low engagement in digital learning programs, or struggling with the high cost of more hands-on approaches," said Moorefield. "That's why we've built Cloverleaf to be short nudges dripped into the flow of work, so that people can be learning in the moment they need to apply and grow. Our secret sauce has been in how personalized our coaching is - it truly understands each person and what they need to learn in that moment."

The platform works with major organizations to scale coaching and maximize employee talent. Successful partnerships include Workday, Cornerstone, Gallup, and Blanchard to further enhance its integration capabilities for the enterprise. Cloverleaf also helps workplace consultants and coaches access unique insights into the way people and teams work to help sustain and scale their practices.

"Cloverleaf is a truly innovative company changing the way businesses approach skills development for employees while also making a positive impact," said Joe Henderson, Vice President, Advantage Capital. "We are pleased to be a part of this round of financing and provide this growth-ready business with catalytic capital to continue its impressive path forward."

In 2023, Cloverleaf achieved recognition on the Inc. 5000 list as one of the fastest-growing companies in America, with an impressive 1,243% growth over a three-year period. Additionally, it clinched the title of the fastest-growing company in its region, ranking #1 in Cincinnati and #3 in Ohio. Further solidifying its success, Cloverleaf earned a place on Inc. magazine's prestigious list of Best Workplaces for 2023.

About Cloverleaf

Cloverleaf is a powerful coaching tool that unleashes people to do their best work, together. Cloverleaf's technology sends personalized, meaningful coaching tips that leverage respected psychology data from assessments like DISC, Enneagram, and Strengthscope. With a few sentences a day, it helps every person tap into their unique value, build understanding, and improve collaboration.

Cloverleaf integrates seamlessly into the systems teams already use every day, including Google Workplace, Microsoft 365, and Slack. Companies like HP Enterprise, Kroger, and Monster Energy have already turned to Cloverleaf to maximize their organization's talent. Every month, Cloverleaf sends out millions of tips to more than one million users, 20,000 teams, and hundreds of coaches, helping people at the world's best companies thrive at work. Learn more at https://cloverleaf.me/.

About Advantage Capital

Advantage Capital is a leading impact investment firm with an emphasis on driving capital to underserved areas. The firm provides flexible financing to growth-ready entrepreneurs and industries located in communities that often lack access to conventional sources of capital. Since 1992, the firm has invested more than $4 billion in more than 900 companies to support more than 67,000 quality jobs. The firm also invests with intention in affordable housing developments and renewable energy solutions to grow economies and communities. Learn more at Advantagecap.com.

Disclosures

Advantage Capital is an Investment Adviser registered with the U.S. Securities & Exchange Commission. Such registration, however, does not imply a certain level of skill or training. This release has been prepared for informational purposes and to announce a prior event, and nothing herein should be construed as an offer of investment advisory services or as an offer to sell or a solicitation of an offer to purchase any securities or investment product. All offers of investment interests in any fund or investment vehicle managed directly or indirectly by Advantage Capital are and will be made only to qualified prospective investors pursuant to separate and definitive offering and subscription documents in accordance with applicable federal and state securities laws. Advantage Capital is an equal opportunity provider.

Contact:
Media Contact
Melanie Anderson, Pitch Public Relations, 1 480-225-7148, melanie@pitchpublicrelations.com, www.pitchpublicrelations.com

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