Performance Management Firm 15Five Pulls in $30M to Scale Up
Summary
When it comes to millennials, that means “regular feedback, flexibility in how they work, and growth opportunities,’’15Five co-founder and CEO David Hassell says in a prepared statement Monday announcing the company’s $30.7 million Series B fundraising round. 15Five positions itself as part of a broad software sector defined by the term performance management, which covers business planning and related human resources tasks such as recruiting, employee recordkeeping, and benefits administration as well as newer functions such as talent management. The company, founded in 2011, fosters routine communications between supervisors and employees, who check in with their managers online each week and meet with them one-on-one for coaching, feedback, and help when they run into obstacles in their work. Staffers agree on timelines to complete projects for their employers, but also work toward personal objectives such as career development. 15Five’s Series B funding round was led by Next47, the venture capital firm founded by German industrial equipment manufacturing conglomerate Siemens.
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