HelloTeam Triples Revenue and More Than Doubles User Base
Year-end momentum fuels next phase of high-growth expectations for 2022
HelloTeam, the all-in-one performance management, employee engagement, and social workplace community platform, announced a year of significant growth and momentum in revenue, customers, headcount, and industry accolades. Fiscal year 2021, which ended December 31, saw annual recurring revenue (ARR) with accelerated growth of more than 3x, combined with 2x growth in its customer base and 200% growth in employee headcount.
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Strong customer wins across mid-market organizations facing employee engagement and retention challenges, particularly among hybrid and deskless workers, along with digitization of critical people development tasks, fueled the revenue surge in 2021. The company also saw continued industry recognition as a leader in the multi-billion dollar employee experience market, as well as strides in technological innovation that support today’s modern workforce and the challenges of The Great Resignation.
“This was an amazing year for HelloTeam in terms of growth and industry recognition, but I am most excited about the momentum we’re building for 2022 and beyond,” said Tanya Bakalov, Founder and CEO of HelloTeam. “Organizations are facing a retention crisis that requires modern software designed to provide an engaging employee experience, wherever they work. HelloTeam is in a perfect position to capitalize on this major market opportunity.”
Highlights:
- Product – HelloTeam continues to accelerate its innovation as a leading Employee Experience platform. 2021 saw the release of the HelloTeam mobile app, extending employee connectivity to deskless and hybrid workers; a newly updated org chart feature that provides scalability, ease-of-use, and dynamic updates accessible to every employee; the addition of gifs to our High Fives feature; and multiple enhancements to reviews, one-on-ones, goals, surveys, along with newly added HRIS integrations; a new learning management system that expanded the core offering to combine performance and skills matching with learning solutions; new and improved apps for both Slack and Microsoft Teams, enabling users to high-five teammates and receive HelloTeam notifications for surveys, reviews, news, events, and badges from within their collaboration platform.
- Partnerships – In Q3 2021, HelloTeam achieved ADP Platinum Partner status. The integration of HelloTeam’s performance and engagement platform with ADP Workforce Now provides a strategic HR solution that is highly valued by shared customers to create inspired cultures that develop and keep great teams. The partnership is highlighted in a recent customer case study published here.
- G2 Awards – Underscoring HelloTeam’s momentum, the company received multiple awards and over 140 5-star reviews on G2. In Q4, HelloTeam was named a Leader in Performance Management Software and Employee Engagement Software by G2.com and earned awards in 16 different categories based on its high levels of customer satisfaction and likeliness to recommend ratings from real users on G2, the world’s leading business solutions review website.
- NEVY Nomination – Q4 2021 saw HelloTeam recognized once again, with a prestigious nomination for The Emerging Technology Company of the Year by the New England Venture Capital Association (NEVCA) for the 2021 NEVY Awards.
- Expanded Leadership Team to Accelerate Revenue Growth – To keep up with its accelerating growth, HelloTeam also expanded its executive team. In August, Frank Moreno joined as the company’s first Chief Marketing Officer, having led marketing teams at several high-growth companies, including Bottomline Technologies, Datawatch, and Kronos.
- New Website & Branding – Kicking off 2022, HelloTeam recently unveiled new branding and a redesigned company website. As investments in awareness and demand generation increase, the new website provides a user experience optimized for engagement and interaction with highly valuable content for performance management, employee engagement, learning, and more.
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