Employee Engagement Company HelloTeam Raises $3.5 Million

By Amit Chowdhry ● August 21, 2020
  • All-in-one performance management and employee engagement platform HelloTeam announced it has raised $3.5 million in a seed round of funding led by Underscore VC

All-in-one performance management and employee engagement platform HelloTeam announced it has raised $3.5 million in a seed round of funding led by Underscore VC, which was joined by Osage Venture Partners, Ventureforgood, and several others. This new round of funding will be used to drive strategic product enhancements and communications tools to help its customers respond, recover, and thrive during these challenging times.

Launched by Tanya Bakalov — who grew her previous company to a $1 billion valuation with more than 500 employees across multiple offices — HelloTeam’s platform helps companies foster a connected culture, which thrives from continuous recognition and feedback.

The demand for HelloTeam’s people management platform has surged during the pandemic as companies face three immediate challenges: enabling a successful remote work model, supporting critical new needs for companies planning to return to work or instituting a hybrid approach, and prioritizing and supporting inclusion growth and awareness.

For companies that are planning to stay remote for the foreseeable future, HelloTeam boosts employee productivity and retention. And modern workforces need HelloTeam’s combination of connected goals, continuous performance management, manager-employee one-on-ones, engagement surveys with instant people analytics, and real-time peer recognition to sustain a company’s work culture and identity. 

These and other features provide business leaders with the insights they need to build a stronger and a performance-driven workforce in a remote environment while providing data-informed results to shape people strategies.

Plus companies planning to return to work benefit from new functionalities designed specifically for the current environment, including daily COVID-19 Surveys — which provide a path for organizations to bring employees back to work safely in compliance with guidance provided by OSHA, CDC, SHRM, and others. To encourage best practices, HelloTeam recently launched a Slack Community called ‘Culture Corner,’ giving Human Resources Professionals a destination location for HR peers to network and share best practices for fostering a diverse and productive workforce.

KEY QUOTES:

“We’re in a disruptive shift from the traditional in-office workplace to a remote and hybrid-work model. Industry leaders like Facebook, Siemens, and Google, as well as countless smaller companies, are moving to a continued remote-work model. Inevitably, they face a common challenge: how to build a scalable, unified culture for decentralized teams. Having the technology to engage, align, and inspire their workforce, especially in the remote setting, is now a business necessity.”

— Tanya Bakalov, CEO at HelloTeam

“There is a lot of innovation in the human capital space. HelloTeam stands apart in the performance and engagement technology market; it’s clearly winning its customers’ hearts and minds, giving companies the power of continuity in their people strategy, especially during these challenging times.”

— Michael Skok, Underscore VC’s Founding Partner