ARLINGTON, VA -We are pleased to announce that Updata Partners VII has led a $95 million equity round into Arlington, VA-based PerformYard. The Company provides a flexible, cloud-based performance management platform for mid-sized companies and large enterprises.
A systematic approach to performance management is a catalyst to a more engaged, productive, and dedicated workforce. PerformYard excels with cutting-edge functionality and streamlined automation, serving the diverse needs of its customers. The platform includes annual reviews, 360-degree feedback, goal management, continuous feedback, employee engagement, and reporting and analytics.
PerformYard’s capital efficient growth and impressive unit economics align with the characteristics Updata looks for in investment opportunities. Through a steadfast commitment to driving critical business results, PerformYard has maintained profitability while growing revenue 5x in the last four years. The Company will continue to invest in all aspects of the business, including sales, marketing, and product. Updata will be represented on PerformYard’s board by General Partner Carter Griffin and Operating Advisor Steven Aldrich. We look forward to supporting the Company’s continued success.
The Company’s press release can be found here.
Coverage from TechCrunch here.