betterworks

betterworks

AI-driven performance management software solution

About betterworks

Simplify's Rating
Why betterworks is rated
B+
Rated B on Competitive Edge
Rated B on Growth Potential
Rated A on Rating Differentiation

Industries

Enterprise Software

AI & Machine Learning

Company Size

51-200

Company Stage

Late Stage VC

Total Funding

$147M

Headquarters

Palo Alto, California

Founded

2010

Overview

Betterworks offers a performance management software that uses artificial intelligence to help businesses enhance workforce performance. The platform provides features like goal setting, conversation updates, and recognition systems, all designed to improve manager effectiveness and employee engagement. Unlike competitors, Betterworks automates parts of the performance management process, allowing managers to focus on coaching while providing HR leaders with data-driven insights through advanced analytics. The company's goal is to create a more efficient and effective performance management system for large organizations.

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Simplify's Take

What believers are saying

  • AI-driven sentiment analysis improves understanding of employee engagement and satisfaction.
  • Predictive analytics forecast employee turnover, enabling proactive retention strategies.
  • AI personalizes learning plans, enhancing skill development and career progression.

What critics are saying

  • Competitors' rapid AI advancements could outpace Betterworks' technology.
  • Data privacy demands may increase compliance costs and legal challenges.
  • AI reliance might introduce biases in performance evaluations, risking dissatisfaction.

What makes betterworks unique

  • Betterworks integrates AI to enhance manager effectiveness and employee engagement.
  • The platform offers real-time feedback and data-driven insights for performance improvement.
  • Betterworks' Talent Profiles won 'Top HR Products of 2024' for innovation.

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Funding

Total Funding

$147M

Above

Industry Average

Funded Over

3 Rounds

Notable Investors:
Late VC funding comparison data is currently unavailable. We're working to provide this information soon!
Late VC Funding Comparison
Coming Soon

Benefits

Countless wellness benefits

Flexible PTO Policy

Every second Friday of the month off

Medical, vision and dental insurance

Work from home setup reimbursement

Maternity and baby-bonding leave

Growth & Insights and Company News

Headcount

6 month growth

-3%

1 year growth

-2%

2 year growth

-2%
Solutions Review
Sep 27th, 2024
Top WorkTech News From the Week of September 27th: Updates from Celonis, Apromore, Hyperscience, and More

Betterworks, a performance management software company, has launched a private Large Language Model (LLM) designed to power its suite of AI tools.

Yahoo Finance
Sep 25th, 2024
Hr Technology Conference & Exposition(R) To Unveil Industry'S Latest Products Next Week

HR Technology Conference & Exposition (R)Annual Conference Continues to Shape the Future of HRWEST PALM BEACH, Fla., Sept. 17, 2024 (GLOBE NEWSWIRE) -- Returning to Mandalay Bay in Las Vegas next week, the annual HR Technology Conference & Exposition® will spotlight hundreds of solution providers from September 24 – 26, 2024. This includes dozens of new products that will debut during the show, such as:Achievers – Booth No. 4918Introducing Inclusion Coach, Achievers' AI model to promote inclusive communication. Integrated into the recognition flow, Inclusion Coach analyzes text in real-time for biased language and offers suggestions for continuous coaching. This helps enhance the quality of recognitions and contributes to a positive culture by making it easier to send and receive recognitions everyone can feel good about.Airbo – Booth No

Business Wire
Aug 27th, 2024
Betterworks Talent Profiles Wins "Top HR Products of 2024" Award

Betterworks Talent Profiles wins "Top HR Products of 2024" Award.

Betterworks
Aug 27th, 2024
Betterworks Wins HR Tech "Top HR Products for 2024" Award for Innovative Talent Profiles

BetterWorks is thrilled to announce that Betterworks has been recognized as one of the "Top HR Products for 2024" by Human Resources Executive(R) and the HR Technology Conference & Exposition.

Business Wire
May 1st, 2024
Betterworks Earns Lighthouse Research Advisory Award For “Best Comprehensive Solution” In The Talent Management Category For Second Consecutive Year

MENLO PARK, Calif.--(BUSINESS WIRE)--Betterworks, the leading intelligent performance management software company, was named “Best Comprehensive Solution” in the Talent Management category by Lighthouse Research Advisory. This is the second consecutive year the company earned this recognition and the first since introducing AI into its software. This latest award is also a testament to Betterworks’ latest research that purpose-built performance management systems outperform alternative solutions. “Receiving this award from Lighthouse Research Advisory reaffirms our commitment to crafting solutions that empower business and HR leaders to make work better,” said Doug Dennerline, Betterworks CEO. “We see HR leaders as architects of employee engagement and champions of business productivity and success. By empowering people and giving them the tools to do their best work, Betterworks has helped industry leading and innovative companies to flourish.”

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