PerformYard – an emerging leader in employee performance management – recently announced the completion of a $95 million equity investment from Updata Partners. Carter Griffin of Updata will join PerformYard’s Board of Directors in connection with the investment.
Launched in 2013, PerformYard transforms performance management with cutting-edge functionality and streamlined automation, serving the diverse needs of its customers. And through a steadfast commitment to driving critical business results, PerformYard has scaled its business significantly with 5x revenue growth in the last four years.
PerformYard will continue to grow by investing in its people. And the investment from Updata will accelerate hiring across all departments.
KEY QUOTES:
“We are thrilled to partner with Updata as we embark on our next phase of growth in solving performance management challenges. Given the incredible success and growth our team has realized in recent years, I view this partnership as a natural evolution of our business to support continued development and expansion.”
“Updata’s track record of success investing in software organizations with similar scale, efficiency and funding made them the ideal partner for PerformYard moving forward. Our leadership team has been impressed through our collaboration with Updata and is excited to leverage their collective knowledge and industry experience as we grow.”
“The initial vision for PerformYard was grounded in the need for organizations to drive enhanced performance from their employees. We identified a critical need for employers to better manage, coach, retain and progress talent throughout their organizations. Over the last 10 years we have seen the emphasis on employee performance and engagement deepen significantly. Our plan is to continue building our organization to support these critical initiatives.”
— Founder and CEO Ben Hastings
“Ben and his team have performed exceptionally well over a number of years. With PerformYard we see an opportunity to win in a large and important category. We are excited to help further scale the company.”
— Carter Griffin, General Partner at Updata
