The company, founded in 2013, is headquartered in Palo Alto, CA, with an office in New York and is funded by Kleiner Perkins Caulfield & Byers. The platform is inspired by the OKR model (Objectives and Key Results) that was implemented early on at Google. Former Badgeville CEO, Kris Duggan, co-founded BetterWorks along with Di Wu and Paul Reeves.
The company has also announced that John Doerr and Bing Gordon of Kleiner Perkins Caulfield & Byers is funding a sum of $15.5 million, in which Joe Lonsdale from Formation 8 will participate. AME Cloud Ventures and Pejman Mar Ventures are also providing funding.
Board of directors
The board of directors consists of Doerr, Gordon and Londsale including Shona Brown, formerly of Google, and Jason Lemkin, Adobe’s former VP. The advisors include Laszlo Bock and Deep Nishar from Google and LinkedIn. Duggan is a SaaS expert in behavioural science techniques and loyalty through data and analytics. Wu is from Palantir Technologies and Reeves from Badgeville.
“Ideas are relatively easy, but execution is everything,” said Doerr, general partner at Kleiner Perkins, in a press release. “BetterWorks helps companies of all sizes from 20 to 20,000 employees achieve operational excellence by offering a simple and powerful platform that aligns teams on what matters most, tracking progress and celebrating success.”
BetterWorks says it applies Goal Science thinking and has evolved Doerr’s approach for today’s mobile workers to create a software solution for businesses processes. The company says it adapts to the needs of today’s metrics driven culture by providing real-time feedback.
BetterWorks believes that if users are allowed to set their own goals and executives to track employee progress, companies can identify problem areas and adjust priorities.
“Our business saw explosive growth at Badgeville, and like any company in that position we learned the challenges of implementing and scaling a goal-setting system,” explained Duggan in a press release. “I’ve spoken with hundreds of Fortune 1000 leaders that share similar frustrations with aligning goals across their enterprises that ladder up to overarching objectives. These experiences motivated me to start BetterWorks and develop a powerful solution that gives visibility on what’s most important to the business while driving employee engagement.”
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