15Five, a top tier company focused on continual performance management, recently announce the finish of a $8.2 million Series A fund raising round led primarily by Origin Ventures, along with New Ground Ventures, Chaifetz Group, Jason Calacanis' LAUNCH Fund, and top SaaS investor Matrix Partners. This most recent fund raising round has 15Five's total capital raised up to $11.9 million.
15Five will use the latest investment to support its global growth initiatives, including accelerating product innovation and scaling the sales, marketing and product teams. The company plans to grow its employee headcount by more than 100 percent in the coming year, expanding from 34 employees at the start of 2018 to more than 100 in 2019.
“The latest round will advance our mission to address the changing world of work,” said David Hassell, co-founder and CEO of 15Five. “This is an opportunity to continue building on what many of the world’s leading companies have already discovered, which is that empowering employees with solutions like 15Five is foundational to driving long-term growth.”
“That’s why Spotify, Indeed, HubSpot and TechStyle have embraced 15Five,” adds Hassell. “The support of customers like these has helped us become the #1 product in both the Employee Engagement and Performance Management categories on G2 Crowd.”
Reviewers on sites like G2 Crowd have praised the 15Five continuous performance management suite for being easy to set-up, intuitive and highly customizable. Key features include a weekly check-in function, employee recognition, an Objectives and Key Results tracking system, and 360˚ reviews. Companies can seamlessly integrate the platform with critical business applications like Slack, BambooHR, Namely, Okta and OneLogin.
“There has never been a bigger opportunity for companies to boost the performance of their employees,” said Hassell. “Companies are still using the annual review – an assessment of performance that has been a standard since 1940 – to deliver employee feedback. But, today’s workforce demands continuous feedback. Companies that aren’t using solutions like 15Five to provide constant feedback are going to see an approximate 400 percent reduction in employee motivation and nearly a 200 percent reduction in employee productivity. This is why it’s never been more important for companies to invest in continuous performance management.”
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