# Betterworks Systems

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/betterworks-systems

- Industry: Software
- Headquarters: Menlo Park, US
- Website: www.betterworks.com
- Total disclosed funding: $136M
- Latest round: Series B (Apr 23, 2021)
- Investors on record: 11

## About

Founded in 2010 and based in California, US, Betterworks Systems, Inc. develops the Continuous Performance Management® software, a workforce management platform designed to track the performance of employees and align them according to their company's objectives. It features a goals and objectives setting interface, feedback and recognition, and performance insights and analytics. Di Wu, Kris Duggan, and Paul Reeves are the co-founders of the company. In May 2021, the firm raised USD 61 million in venture funding from unspecified investors.

The organization's solutions include OKR (Objectives and Key Results), which aligns the entire workforce, and provides transparency and focus around the organization’s top strategic priorities, Performance Management helps in goal alignment, feedback, coaching, and development conversations necessary to inspire and motivate the entire workforce and enable enterprises to easily set, measure, and cross-functionally align goals, and finally, Employee Engagement helps to gather continuous feedback throughout employee lifecycle via eNPS, D&I, pulse surveys, and more. The firm partners with Udemy, Beekeeper, Oneva, and more.

Betterworks plans to use the May 2021 funding to accelerate its product development, invest in strategic partnerships, and expand its go-to-market capabilities.

## Funding rounds

- Series B, Apr 23, 2021, $61M — Kleiner Perkins, Emergence Capital
- Series B, Mar 7, 2019, $27M — Kleiner Perkins, Emergence Capital, Correlation Ventures, North Coast Technology Investors, Plug and Play, Formation8
- Series B, Mar 4, 2016, $20M — Kleiner Perkins, Emergence Capital, 8VC
- Series A, Dec 16, 2013, $16M — Kleiner Perkins, Formation8, AME Cloud Ventures, Pear VC, 8VC
- Series A, Jul 29, 2011, $8.3M — Redpoint Ventures, ff Venture Capital
- Seed, Jan 1, 2011, $2.5M — ff Venture Capital
- Seed, Dec 1, 2010, $1.5M — ff Venture Capital

## Investors

- ff Venture Capital (https://capitalatlas.ai/funds/ff-venture-capital) — Seed, Series A
- Redpoint Ventures (https://capitalatlas.ai/funds/redpoint-ventures) — Series A
- Kleiner Perkins (https://capitalatlas.ai/funds/kleiner-perkins) — Series A, Series B
- Formation8 (https://capitalatlas.ai/funds/formation8) — Series A, Series B
- AME Cloud Ventures (https://capitalatlas.ai/funds/ame-cloud-ventures) — Series A
- Pear VC (https://capitalatlas.ai/funds/pear-vc) — Series A
- 8VC (https://capitalatlas.ai/funds/8vc) — Series A, Series B
- Emergence Capital (https://capitalatlas.ai/funds/emergence-capital) — Series B
- Correlation Ventures (https://capitalatlas.ai/funds/correlation-ventures) — Series B
- North Coast Technology Investors (https://capitalatlas.ai/funds/north-coast-technology-investors) — Series B
- Plug and Play (https://capitalatlas.ai/funds/plug-and-play) — Series B