15Five, a SaaS for employee management and productivity, announced $52 million in Series C funding Thursday. The round was led by Quad Partners with participation from previous investors Next47, Origin Ventures, Edison Partners, Matrix Partners, Point Nine Capital and New Ground Ventures.
15Five empowers HR teams and managers with subscription software, training and coaching that helps them assess engagement and workflow performance. Last year, the company launched a product called Transform, which helps managers be better leaders through a blended learning model of custom coaching and educational material.
“One of our founding beliefs was that the best companies in the future would be the ones that figured out how to motivate their people and unlock their potential, informed by the understanding that thriving humans create thriving businesses,” 15Five CEO David Hassell said in a statement. “Our tools help HR leaders implement performance reviews, engagement surveys, and alignment around goals, with a through-line to training and coaching for frontline and first-time managers. We believe that managers are the keystone of high performance, not just in overseeing the work, but in helping to tap into the unique strengths and passions of every member of their team.”
So far 15Five’s products have been successful. The company’s customers include big names like Spotify, CreditKarma, Hubspot and Pendo.
15Five plans to use its new funds for research and development plans and to accelerate integration of software and coaching. The company also plans to spend some of the funds on scaling go-to-market strategies, new market expansion and pursuing acquisition opportunities.
The company is also looking to expand its team. Currently 15Five is hiring 18 positions across departments.
