Total amount raised
$94.3 Millions
Latest funding date
July, 2022
Location
15Five has successfully raised significant funding through multiple rounds, attracting notable investors such as ServiceNow and Matrix Partners. The platform offers a comprehensive suite of performance management tools designed to enhance business impact by maximizing performance, engagement, and retention.
Keep reading to explore the intricacies of 15Five's fundraising journey and the investors backing this innovative platform.
What Is 15Five?
Founded on May 1, 2011, 15Five is headquartered in San Francisco, California. The company was established by David Hassell, Nazar Ivaniv, and Shane Metcalf. With a team of 101-250 employees, 15Five offers a strategic performance management platform designed to drive business impact by maximizing performance, engagement, and retention.
How Much Funding Has 15Five Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: April 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their performance management platform.
- Seed Round
- Amount Raised: $1M
- Date: January 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the product and expand the team.
- Seed Round
- Amount Raised: $2.2M
- Date: October 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and increase market reach.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and support initial customer acquisition.
- Series A
- Amount Raised: $8.2M
- Date: December 2018
- Lead Investors: Origin Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand the customer base.
- Series B
- Amount Raised: $30.7M
- Date: June 2019
- Lead Investors: Next47
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the employee development toolkit and support further growth.
- Series C
- Amount Raised: $52M
- Date: July 2022
- Lead Investors: Quad Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To invest in R&D, integrate software with coaching, and expand into new markets.
- Private Equity Round
- Amount Raised: Not publicly disclosed
- Date: December 2022
- Lead Investors: ServiceNow
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support strategic growth initiatives and enhance product offerings.
Total Amount Raised: $94.1M
Current Valuation: Not publicly disclosed
Key Investors
- ServiceNow
- Details: ServiceNow is a cloud computing company that provides service management software as a service. It is known for its robust platform that helps organizations manage digital workflows.
- Investment Focus Areas: Cloud computing, enterprise software, service management.
- Notable Investments: Not publicly disclosed.
- Quad Partners
- Details: Founded in 2000, Quad Partners invests exclusively in the education and workforce development industries. They have invested in over 40 companies and manage over $1 billion.
- Investment Focus Areas: Education, workforce development.
- Notable Investments: Not publicly disclosed.
- Next47
- Details: Next47 is a global venture firm backed by Siemens, investing in innovative startups. They focus on fostering technological advancements across various industries.
- Investment Focus Areas: Technology, innovation, startups.
- Notable Investments: Not publicly disclosed.
- Origin Ventures
- Details: Origin Ventures is a venture capital firm investing in early-stage software and marketplace businesses. They aim to support companies that drive significant market impact.
- Investment Focus Areas: Early-stage software, marketplaces.
- Notable Investments: Not publicly disclosed.
- Matrix Partners
- Details: Matrix Partners is a venture capital firm investing in early-stage companies across various sectors. They have a long history of supporting innovative startups.
- Investment Focus Areas: Enterprise software, consumer technology, healthcare.
- Notable Investments: HubSpot, Zendesk, Oculus.
What's Next for 15Five?
15Five stands at the cusp of significant growth opportunities, driven by a $52 million Series C funding round. The company plans to invest heavily in research and development to enhance its performance measurement tools and integrate them with coaching. This strategic move aims to meet the growing demand for remote and hybrid work solutions, positioning 15Five to expand its market reach and potentially pursue future acquisitions.
As 15Five scales, it may seek additional funding to support these ambitious plans. However, the company will need to navigate challenges such as adapting to the rapidly changing work environment and maintaining high engagement across diverse teams. By staying ahead of industry trends and continuously innovating, 15Five is well-positioned to capitalize on the evolving needs of HR leaders and the workforce.
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