hrtechoutlook

HelloTeam Secures $3.5 Million to Boost Employee Engagement

By HR Tech Outlook | Monday, August 31, 2020

HelloTeam provides an all-in-one performance management and employee engagement platform that empowers managers and employees to be engaged and highly-effective in their work.

FREMONT, CA: HelloTeam, the all-in-one performance management and employee engagement platform raised $3.5 million in seed funding round led by Boston-based Underscore VC and joined by Osage Venture Partners, Ventureforgood, and others. The new capital will be used to drive strategic product enhancements and communications tools to help its customers respond, recover, and thrive during these challenging times.

Founded by Tanya Bakalov, HelloTeam's platform helps companies foster a connected culture that flourishes from continuous recognition and feedback. The demand for the company's people management platform has increased during the pandemic as companies face three immediate challenges: providing a successful remote work model, supporting critical new needs for companies planning to return to work or instituting a hybrid approach, and prioritizing and supporting inclusive growth and awareness.

"We're in a disruptive shift from the traditional in-office workplace to a remote and hybrid-work model." said Tanya Bakalov, CEO at HelloTeam. "Industry leaders like Facebook, Siemens, and Google, as well as countless smaller companies, are moving to a continued remote-work model. Inevitably, they face a common challenge: how to build a scalable, unified culture for decentralized teams. Having the technology to engage, align, and inspire their workforce, especially in the remote setting, is now a business necessity."

HelloTeam drives employee productivity and retention for companies planning to stay remote in the future. HelloTeam's combination of connected goals, continuous performance management, manager-employee one-on-ones, engagement surveys with instant people analytics, and real-time peer recognition helps sustain a company's work culture and identity. It provides business leaders with the insights they need to build a more robust, performance-driven workforce in a remote environment and provide data-informed results to shape people strategies.

Companies planning to return to work also benefit from new functionalities explicitly designed for the current environment. It includes daily COVID-19 surveys, which provide a path for organizations to bring employees back to work safely in compliance with guidance provided by OSHA, CDC, SHRM, and others. HelloTeam recently launched a Slack Community called 'Culture Corner,' which gives human resources professionals a destination location for HR peers to network and share best practices for fostering a diverse and productive workforce.

“There is a lot of innovation in the human capital space. HelloTeam stands apart in the performance and engagement technology market; it’s clearly winning its customers’ hearts and minds, giving companies the power of continuity in their people strategy, especially during these challenging times.” said Michael Skok, Underscore VC’s Founding Partner.

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