The startup 15Five, which invented continuous performance monitoring, has raised USD 52 million in capital to spur development and new ideas.
The Series C round, which was led by Quad Partners and included funding from prior investors Next47, Origin Ventures, Edison Partners, Matrix Partners, Point Nine Capital, and New Ground Ventures, validates 15Five’s tried-and-true strategy for human-centered talent management and highlights its crucial role in achieving a company’s business objectives.
What the founder has to say:
David Hassell, CEO of 15Five:
“One of our founding principles was that the best firms of the future would be those that figured out how to inspire their employees and unleash their potential, guided by the knowledge that successful people lead to successful organizations. And that still holds. But we now operate differently. Our products assist HR directors in implementing performance reviews, engagement surveys, and goal alignment directly linked to frontline and inexperienced manager training and coaching. We think that managers are essential to great performance because they supervise the job and support their team members in discovering and developing their talents.”
What the investors have to say:
Connor O’Keefe, Principal at Quad Partners:
“We’ve been hyper-focused on collaborating with firms that play a role in helping folks at every age become empowered, engaged, and fulfilled.” “Learning and developing yourself is a lifelong journey. Companies are expected more than ever to support organizational development by motivating workers, educating managers, and fostering employee and organizational success. Our investment in 15Five was motivated by its compelling mission and vision to develop solutions that genuinely unlock every employee’s potential.”
More about the startup:
15Five is a corporation that offers integrated performance management. With the help of 15Five, HR teams can enhance manager effectiveness, encourage high performance and engagement, and boost retention. The 15Five strategy gives HR leaders everything they need to accomplish their strategic people goals by integrating simple software with coaching, management training, and a flourishing professional community.
In-depth engagement surveys, goal & OKR tracking, 360-degree performance assessments, and weekly manager-employee feedback tools like 1-on-1s and pulse ratings are just a few items that 15Five offers. All these together give HR leaders the ability to regularly assess employee engagement and performance within the work context and then give their managers the tools they need to spearhead the change from the bottom up.
Every component of 15Five’s solution was purposefully developed with small- and medium-sized enterprises (those with 100 to 2,500 employees), emphasizing intuitive design, usability, and quick implementation and acceptance. For instance, 15Five’s seamless integration with HRIS, payroll, and other vital systems enables HR leaders to gather and assess information on all facets of employee performance to remain nimble and make smart decisions.
15 and the principal investor The view that employees’ professional growth is essential to the firm’s long-term health is shared by Quad Partners, a longtime player in the education sector. Employee development both meets the requirements and aspirations of the upcoming workforce and supports the organization’s present performance goals.
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