SOURCE: 15Five

15Five

October 02, 2014 07:30 ET

15Five Raises $2.2M in Seed 2 Funding

Investors Point Nine Capital, Matrix Partners, Simon Sinek, and Adam Goldenberg Back Fast-Growing Software Company Offering Top Team Feedback Platform

SAN FRANCISCO, CA--(Marketwired - Oct 2, 2014) - 15 Five, provider of the leading team feedback platform, today announced it has raised $2.2M in follow-on seed funding from existing investor Point Nine Capital, as well as new investors Matrix Partners, renowned leadership expert Simon Sinek, and JustFab CEO Adam Goldenberg. The new round brings 15Five's total funding to $3.8M.

"15Five is a lean company with strong monthly revenue and a loyal global customer base, and this 'smart money' will help us double-down on marketing and sales," David Hassell, CEO and founder of 15Five. "Our product helps thousands of managers and employees communicate openly and honestly to reach goals together and we'll use this funding to bring the platform to even more fast-growing companies."

Used by over 1,000 fast-growing companies in more than 100 countries, including Warby Parker, Quirky, JustFab, and ShoreTel, 15Five is transforming the way teams communicate by promoting candid conversation among managers and employees. In just 15 minutes per week, employees answer a few open-ended questions covering a range of topics -- from productivity and innovation to culture and morale. Managers then take about five minutes to review and respond to feedback. Using 15Five's visual dashboard, managers stay tuned-into their teams' goals, progress, and ideas -- and can quickly take action on challenges and recognize employee achievements. 15Five gives employees a voice and provides managers with qualitative business intelligence to stay informed, strengthen culture, and improve business outcomes.

"Since our first seed investment in 15Five, we've been extremely impressed with the development of the company," said Christoph Janz, Managing Partner of Point Nine Capital, which is not only a seed investor but also a happy customer of 15Five. "We're happy to double-down on our investment and thrilled to continue to support the company on its mission to transform the way teams communicate."

"15Five is all about transparency, honesty, and recognizing value in people," said Josh Hannah, general partner at Matrix Partners and new 15Five board member. "This team is doing something positive with feedback cycles and opening communication while promoting a model of efficiency, both in its product offering and its operations. Several of my portfolio companies are 15Five customers and they have found that it elevates manager-employee effectiveness in a powerful way that requires little time or effort from either party."

Founded in 2011, 15Five is growing at an exponential pace. The company will use the funds to invest heavily in marketing and sales to quickly increase the company's customer base. 15Five will also use the money to hire key staff at its San Francisco headquarters.

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