15Five

15Five provides cloud-based performance management software for businesses to evaluate employee performance and engagement. Key products offered include 1) Performance (performance reviews, ratings and feedback, compensation management and benchmarking, HRIS and productivity integrations), 2) Engage (employee surveys and in-house coaching), 3) Transform (on-demand training for managers) and 4) Dashboard (analytics on engagement, performance and turnover).

More recently, the company launched its HR Outcomes Dashboard (June 2023) allowing users to capture and synthesize an organization’s talent data providing insights on improving employee performance and engagement, and reducing regrettable turnover. This was followed by the launch of Spark AI (November 2023), an AI-powered assistant allowing for summarization of team engagement levels, tips on conducting effective one-on-one meetings, and guidance on creating unbiased performance reviews.

The platform’s monthly subscription plans range from USD 4-16 per user. Its customer profile is said to be dominated by small and medium-sized enterprises (SMEs).

In April 2021, it announced the acquisition of employee engagement software provider Emplify for USD 50 million. Emplify provides tools for employee assessments, guidance for executives, and coaching for managers. Additionally, managers can gather employee feedback and people insights by using the tool. The platform’s clients include Figma, DiDi, Yamaha, and SalesLoft. The company claimed that as a result of the acquisition, it is the only platform to support a complete solution encompassing manager enablement, engagement measurement, and performance management. 15Five absorbed the Emplify team, growing its employee base by 30% and with the acquisition.

Key customers and partnerships

As of April 2024, the platform had a customer base of over 3,500 with notable enterprises including HubSpot, Credit Karma and Pendo.

Funding and financials

In December 2022, 15Five received a strategic investment (amount undisclosed) from ServiceNow Ventures, as an addition to the USD 52 million Series C round announced in July 2022. The fresh funds were primarily used to accelerate 15Five’s ongoing product development.