15Five Raises Strategic Investment from ServiceNow

Funding accelerates 15Five’s product innovation, helping HR leaders better retain top talent and modernize the performance review process

15Five, the holistic performance management company, announced a strategic investment of an undisclosed amount from ServiceNow, adding to the $52M Series C round 15Five announced in July.

The funding underscores ServiceNow’s commitment to building and investing in technology that reinvents work and drives productivity. This is ServiceNow Ventures’ first investment in the talent technology space. The funding will accelerate 15Five’s ongoing product development, spanning its holistic performance management software platform and integrated manager training and coaching, helping today’s HR leader drive higher performance, productivity, engagement, and retention.

Read More: SalesTechStar Interview With Darpan Seth, CEO at Nextuple

“We are more committed than ever to supporting the evolving relationship between manager and employee and finding ways to drive productivity across an enterprise, which is central to an organization’s success,” said Melanie Lougee, Head of Employee Workflows Strategy at ServiceNow. “15Five is a pioneer in the performance management category and has helped thousands of organizations thrive by building mutually supportive relationships with employees. As learning, development, and performance management become even more essential to an organization’s success, we’re excited to play a part in 15Five’s continued growth.”

“I’ve long been inspired by ServiceNow’s commitment to helping employees work how and where they want, a core belief that we both hold dearly,” said David Hassell, co-founder and CEO of 15Five. “When employees thrive, companies thrive, and we’re thrilled to have the backing of a category leader like ServiceNow to help us deliver on this promise for HR leaders and their organizations.”

Read More: Empowering Customers with Autonomous CX

15Five continues to rapidly innovate to help HR leaders drive successful business and talent outcomes. The funding comes on the heels of two recent product releases:

• With HR leaders looking to retain top talent amidst a tight labor market and shrinking budgets, 15Five has made it simple to identify and segment employees with the potential to make a big impact on the organization. HR teams can then monitor engagement trends among these employees, quickly react to changes in sentiment, and proactively take action to retain them.
• 15Five has also enhanced its performance review calibrations, allowing HR leaders to visualize the distribution of review ratings across different managers and easily adjust those ratings in real-time without leaving the 15Five platform. With enhancements like the drag-and-drop talent matrix and real-time collaboration and change-tracking, customers can be sure their calibration process is fair, transparent, and collaborative no matter the scale of their organization.