HelloTeam offers a combined performance-management and employee-engagement platform with features such as peer-to-peer recognition, employee rewards, automated performance reviews, and employee surveys. The company serves customers including Massage Envy, Mood Media, and Onyx CenterSource. Onyx reported a one‑third reduction in turnover after full implementation in 2022 and said HelloTeam saved them north of $4 million per year. HelloTeam plans to use the new capital to expand its platform capabilities and broaden its reach as it addresses the $1 trillion employee retention crisis. The company is led by founder Tanya Bakalov and is based in Boston, Massachusetts. The business has reported meaningful customer success and has grown its financing to support product and market expansion. HelloTeam provides an all-in-one performance management and employee engagement platform that helps companies foster a connected culture via continuous recognition and feedback. The platform is designed to empower managers and employees to be more engaged and effective in their work. The company raised $3.5M in seed funding and intends to use the proceeds for strategic product enhancements. The round was led by Underscore VC and included Osage Venture Partners, Ventureforgood, and other investors. HelloTeam was founded by Tanya Bakalov. Bakalov previously grew her prior company to a $1 billion valuation with more than 500 employees across multiple offices. HelloTeam (formerly BetterSkills, Inc.) provides a SaaS-based engagement and talent management platform designed to increase employee engagement, improve retention and enable data-driven people strategies. The platform delivers real-time instant insights and analytics to inform HR and management decisions. The company is led by CEO and founder Tanya Bakalov. HelloTeam is headquartered in Boston, MA. In November 2018 the company raised $2.7M in funding. Backers on the round included Bain Capital Ventures, Osage Ventures, VT Technology Ventures and select angels.

Total raised

$16M

Funding rounds

3

Latest round

Series A

Latest activity

May 2023