The performance management company, 15Five has raised $30.7 million in its Series B funding round. The round was led by Next 47. Among the other participants in the round were Matrix Partners, PointNine Capital, Newground Ventures, Origin Ventures, LAUNCH Fund, Chaifetz Group, and Bling Capital.
The funding round brought the tally of the total funding raised by the company to $42.6 million. The company will be using the fresh shot of funding to accelerate its growth, boost sales and marketing. The company will also be looking to double its workforce to 190 by 2020.
David Hassell said: “The latest round of funding signifies a paradigm shift in organizations’ people management practices, driven by a new generation of employees.” He further said that the market was ready for talent management software and demand for 15Five is going to rise.
Based in San Francisco, California, the company provides software and services to help organizations around the world evaluate their performance. 15Five was founded in 2011 by co-founders David Hassell and Nazar Ivaniv. Today, almost 2,000 businesses from all over the world rely on 15Five for their innovative services.