Betterworks Raises Over $65 Million That Will Be Used in Product InnovationApril 17, 2019 - Author: steph
Betterworks is a firm that falls under the service industry category. In a bid to expand, the company set up a Series B investment. They were able to gather more than $65 million. Many investors extended a helping hand, and they included Kleiner Perkins and Emergence Capital. The money that Betterworks gathered will be used to improve the sales momentum and the product innovation within the corporation. Since the company’s inception, Betterworks has been able to attract a huge pool of clients since they offer performance management software. When a company utilizes such software, the productivity within the firm also improves.
Performance management software plays a crucial role in fueling the outcome of a business. As a result, Betterworks has seen it fit to invest more in innovation. Betterworks has focused on increasing the activities that coincide with continuous performance management. Such activities include feedback, performance conversations, and the creation of goals. By focusing on such areas, the clients of Betterworks benefit in the form of enterprise agility, overall performance, alignment, and high talent retention.
The sales within Betterworks are still strong since many corporations are interested in the continuous performance management software that is provided by the firm. Since companies are focusing on performance management software that is data backed, Betterworks has also focused on improving their professional services. Betterworks focuses on the quarterly OKRs (Objectives and Key Results) of a firm thus enabling the company to offer quality services to each of their clients. Each of these corporations can gain a competitive advantage in their industry of specialization. Many firms are trying to improve their productivity and performance; nevertheless, it has proved to be a significant challenge. Since Betterworks has an in-depth understanding of HR technology, they have been able to offer some assistance by coming up with the performance management software that also adds value to the employees.