15Five, a cloud-based performance management software, announced the acquisition of employee engagement software provider Emplify for USD 50 million. 

Founded in 2011, 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 claims 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 provides cloud-based performance management software for businesses to evaluate employee performance and engagement. The platform features an objectives and key results (OKR) framework, 360 feedback, self-evaluations, and one-on-ones conducted regularly to maintain an ongoing line of communication between managers and employees. As of April 2021, the platform had a customer base of more than 2,800 clients, including Spotify, Hubspot, Peloton, Credit Karma, and Siemens.