15Five, a startup in performance management, has raised $52 million in capital to spur development and innovation. Quad Partners is the lead investor in the Series C round of fundraising, with participation from prior backers Next47, Origin Ventures, Edison Partners, Matrix Partners, Point Nine Capital, and New Ground Ventures.
According to David Hassell, CEO of 15Five, “one of our foundational beliefs was that the best firms in the future would be the ones that worked out how to unlock their people’s potential and drive them. This was informed by the understanding that thriving humans produce thriving businesses.”
“And that remains the case. But we now operate differently. We think that managers are essential to great performance because they not only supervise the job but also support their team members in discovering and developing their talents.
15 and the principal investor the view that employees’ professional growth is essential to the long-term health of the firm is one shared by Quad Partners, a longtime player in the education sector. Employee development both meets the requirements and aspirations of the upcoming workforce and supports the organization’s present performance goals.
In 2019, a $30.7 million B round of funding was raised by 15Five. The company will use this new round of funding to accelerate the integration of software with coaching and invest in R&D to further connect the capability to measure performance (via engagement surveys, performance reviews, and OKRs). This will allow managers to have a more positive and efficient impact on team performance.
According to a statement from the company, it will also build on the success of its quick growth by growing its go-to-market approach by entering new areas and pursuing prospective acquisition opportunities.
Spotify, CreditKarma, Hubspot, and Pendo are among the 15Five clients.