PerformYard provides a software platform that automates employee performance reviews, goals, continuous feedback, private manager notes and engagement surveys, and connects to existing HR systems. Founded in 2013 by Ben Hastings and Jon Malpass, the company was mostly bootstrapped and raised a $3M seed prior to this round. PerformYard charges most customers $5–$10 per seat per year, serves over 1,500 business customers, and reports revenue growth of 5x over the last four years. The company has been cash-flow positive with attractive unit economics for the majority of its existence and currently employs a 70-person team. PerformYard plans to use new funding to build out its apps and services suite, enter new customer segments, and expand its headcount. Founders emphasize the product’s breadth of workflows as a point of differentiation versus larger HR suites and recent performance-management upstarts. PerformYard is an Arlington, VA–based company that provides enterprise software for employee performance and human resources information. Led by CEO and co-founder Ben Hastings, the company offers a people management solution designed to create a collaborative environment and encourage active participation by all employees. The platform combines HR data, feedback, status reporting, goals and performance reviews to let employees document achievements and feedback in real time. PerformYard raised funding from CIT GAP Funds; the amount of the deal was not disclosed. The company stated it intends to use the funds to accelerate growth into 2014 through new product enhancements and expansion of its sales team. No revenue or user metrics were provided in the article.

Total raised

$95M

Funding rounds

2

Latest round

Equity

Latest activity

Jan 2024