Betterworks Adds $61 Million in Funding

Growth Round from Current Investors to Capitalize on Continued Growth and Expansion.

New York, NY, May 20, 2021 --( Betterworks, the leader in strategy execution software for enterprise companies, announced today they have received an additional $61 million from current investors. To date, Betterworks has raised a total of $126 million.

Betterworks continues to lead the objectives and key results (OKRs) and performance management marketplace, continuously improving their technology suite through innovative product development as well as acquisitionsincluding their acquisition of Hyphen, a pioneer in the field of employee engagement – now called Betterworks Engage.

Recognizing that the process of goal setting and traditional performance management no longer work, and that large enterprises are adapting to leading remote and hybrid workforces, Betterworks offers the OKR solution that companies are looking for next. Betterworks is the only technology that connects the strategy alignment demanded by senior leadership with the individual and team-level performance enablement needed by managers and HR.

The Betterworks performance management software has facilitated the accomplishment of over 10 million goals, and more than 3 million performance conversationsfor customers worldwide including Air Canada, Colgate-Palmolive, Best Western, ExxonMobil, FedEx, Hulu, Kroger, Intuit, University of Phoenix, Freddie Mac, LendingTree, and Sony Pictures, among many others. Betterworks will use the funds to further product development in areas such as AI and analytics, additional key integrations, and invest in strategic partnerships as well as expand the go to market capabilities.

An important driver of Betterworks’s growth over the past 18 months has been customer satisfaction. Betterworks customers continue to be highly satisfied with the product and the implementation process, a key criteria for enterprises, giving Betterworks a world-class Net Promoter Score (NPS) of +88.

“Our software and services have helped clients deliver significant improvements in agility thanks to better-aligned goals and execution. We can show our customers a measurable increase in productivity, while integrating with their existing infrastructure for a seamless transition and broad adoption. These added funds will provide us the talent and tools to fuel our growth,” said CEO of Betterworks, Doug Dennerline.

About Betterworks
Betterworks closes the loop between people, strategy, and results, enabling organizations to align even their most sprawling, dynamic teams. Industry leaders such as Intuit, Freddie Mac, Asurion, Udemy, Vertiv, HCSC, and University of Phoenix rely on Betterworks to accelerate strategic growth by supporting transparent goal-setting, enabling continuous performance, and gleaning real-time employee engagement insights.

Betterworks is backed by Kleiner Perkins and Emergence Capital. John Doerr, iconic investor, OKR pioneer and author of New York Times Best Seller “Measure What Matters,” is a board member, and Josh Bersin, global HR thought leader, serves as an advisor.
Michael Becce