PerformYard, an Arlington, VA-based employee performance management platform, has raised $95 million in an equity investment.
SaaS Investors
The investment was from Updata Partners.
Updata Partners is a technology-focused growth equity firm in Washington D.C. with over $1.5 billion in committed capital. Updata invests in high-growth B2B software and software-driven businesses where their combination of capital and operating experience will accelerate success.
PerformYard Use of Funds
The company will use the funds to accelerate hiring across all departments as PerformYard continues to scale its business.
About PerformYard
Founded in 2013, PerformYard offers a platform that revolutionizes performance management through advanced functionality and streamlined automation. The unified platform streamlines and formalizes any performance process, from annual reviews to quarterly goals, continuous feedback, employee engagement, and everything in between. PerformYard was ranked as the #1 Performance Management System for customer satisfaction by G2 in 2023.
Funding Details
Company: PerformYard, Inc.
Raised: $95.0M
Round: Equity
Funding Month: January 2024
Lead Investors: Updata Partners
Additional Investors:
Company Website: https://www.performyard.com/
Software Category: HR Performance Software
Source: https://www.prweb.com/releases/performyard-secures-95-million-equity-investment-from-updata-partners-302028163.html