15Five, a San Francisco-based holistic performance management company, has announced a strategic investment of an undisclosed amount from ServiceNow. The funding underscores ServiceNow’s commitment to building and investing in technology that reinvents work and drives productivity.
With the funds, the startup plans to accelerate its ongoing product development, spanning its holistic performance management software platform and integrated manager training and coaching, helping today’s HR leader drive higher performance, productivity, engagement, and retention.
Founded by David Hassell, 15Five equips HR teams with a complete, single-platform solution to improve manager effectiveness, drive high performance and engagement, and increase retention. By combining software with coaching, manager training, and a professional community, the platform provides HR leaders with everything they need to achieve their strategic people objectives. It also offers a full suite of products including 360 performance reviews, in-depth engagement surveys, goal & OKR tracking, and weekly manager-employee feedback tools like 1-on-1s and pulse ratings.
15Five is on a mission to create highly-engaged, high-performing organizations by helping people become their best selves.
Speaking about the capital raised, Co-founder & CEO of 15Five, David Hassell, said:
I’ve long been inspired by ServiceNow’s commitment to helping employees work how and where they want, a core belief that we both hold dearly. When employees thrive, companies thrive, and we’re thrilled to have the backing of a category leader like ServiceNow to help us deliver on this promise for HR leaders and their organizations.
15Five continues to rapidly innovate to help HR leaders drive successful business and talent outcomes. The funding comes on the heels of two recent product releases:
With HR leaders looking to retain top talent amidst a tight labor market and shrinking budgets, 15Five has made it simple to identify and segment employees with the potential to make a big impact on the organization. HR teams can then monitor engagement trends among these employees, quickly react to changes in sentiment, and proactively take action to retain them.
15Five has also enhanced its performance review calibrations, allowing HR leaders to visualize the distribution of review ratings across different managers and easily adjust those ratings in real-time without leaving the 15Five platform. With enhancements like the drag-and-drop talent matrix and real-time collaboration and change-tracking, customers can be sure their calibration process is fair, transparent, and collaborative no matter the scale of their organization.
Head of Employee Workflows Strategy of ServiceNow, Melanie Lougee, added:
We are more committed than ever to supporting the evolving relationship between manager and employee and finding ways to drive productivity across an enterprise, which is central to an organization’s success. 15Five is a pioneer in the performance management category and has helped thousands of organizations thrive by building mutually supportive relationships with employees. As learning, development, and performance management become even more essential to an organization’s success, we’re excited to play a part in 15Five’s continued growth.
Built using the Positive Product Design method, 15Five is the only platform that offers software aligned to the latest positive psychology research. Over 3,400 companies, including Credit Karma, Spotify and Pendo rely on the firm to make their talent a growth driver.
The latest fundraising comes within six months of 15Five closing a $52 million Series C. The round was led by Quad Partners, and existing investors (Next47, Edison Partners and Origin Ventures) also participated.