What is Betterworks?
Established in 2013 and headquartered in Redwood City, California, BetterWorks provides performance management software designed to empower businesses in aligning their teams, developing employee potential, and activating organizational capabilities. The platform aims to enhance productivity and strategic execution within enterprises, positioning itself as a key player in the HR technology sector. The company's journey reflects a strategic evolution, moving from early-stage seed funding to substantial enterprise-level capital injections.
How much funding has Betterworks raised?
Betterworks has raised a total of $108.9M across 6 funding rounds:
Private Equity
$1.6M
Private Equity
$8.4M
Angel/Seed
$2.5M
Series A
$15.5M
Series B
$20M
Unspecified
$61M
Private Equity (2010): $1.6M, investors not publicly disclosed
Private Equity (2011): $8.4M, investors not publicly disclosed
Angel/Seed (2014): $2.5M supported by Kleiner, Perkins, Caufield and Byers
Series A (2014): $15.5M featuring Formation8 and Kleiner Perkins Caufield & Byers
Series B (2016): $20M backed by ff Venture Capital, 8VC, Pejman Mar Ventures, AME Cloud Ventures, Emergence Capital Partners, and Kleiner, Perkins, Caufield and Byers
Unspecified (2021): $61M, investors not publicly disclosed
Key Investors in Betterworks
Formation8
Formation 8 is a venture capital firm that supports top entrepreneurs in building market-leading smart enterprise and energy technology companies. The firm provides operational expertise to help its portfolio companies achieve global scale.
Kleiner Perkins Caufield & Byers
Kleiner Perkins is a Menlo Parkbased venture capital firm that raises dedicated funds and invests in early and growthstage technology and lifescience companies, backing founders across consumer, enterprise, healthcare, and climate/hard tech with capital and operational support from seed through IPO or acquisition.
ff Venture Capital
ff Venture Capital (ffVC) is a leading seed and early-stage venture capital firm based in New York, focused on investing in emerging industries such as AI, Manufacturing, Energy, Robotics, and Security. Established in 2008, the firm actively collaborates with founders to develop companies that have the potential to significantly impact markets and society.
What's next for Betterworks?
The recent major strategic investment signals a new phase of expansion for BetterWorks. This capital infusion is expected to fuel product development, market penetration, and potentially strategic acquisitions. As the company continues to scale, its focus will likely remain on enhancing its performance management suite and solidifying its market position. The consistent backing from prominent venture capital firms underscores the market's confidence in BetterWorks' business model and its potential for future success in the competitive enterprise software landscape.
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