Betterworks Revenue, Valuation, Funding & Investors
Betterworks is valued at $177M as of November 2024, a 8.0x multiple on its last reported $22M revenue.
Last Betterworks valuation
$177M
Series B · Nov 2024
Last Betterworks funding round
$32M
Series B · Nov 2024
Betterworks revenue
$22M
Series B · Nov 2024
Key investors in Betterworks
Kleiner Perkins
Formation 8
Plug and Play
Correlation Ventures
Pear VC
AME Cloud Ventures
About Betterworks
Redwood City-headquartered Betterworks is a SaaS provider of continuous performance management software. The platform integrates goal setting with OKRs, 1:1 meetings, real-time feedback, recognition, and engagement surveys into tools like Microsoft Teams, Slack, and Outlook. It leverages generative AI for insights on performance calibration, skill gaps, career paths, and succession planning. Betterworks serves enterprises including T-Mobile, GoDaddy, and Instacart to boost manager coaching and employee retention.
Founded
2013
HQ
San Francisco, CAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$22M (Nov 2024)
Valuation
$177M (Nov 2024)
Betterworks Valuation
Betterworks is currently valued at $177M, based on its Series B in November 2024.
Betterworks valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Nov 2024 | Series B | $177M | 8.0x |
Betterworks Revenue
Betterworks' latest recorded revenue is $22M, as of its Series B in November 2024. At a $177M valuation, that implies a 8.0x revenue multiple.
Betterworks revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Nov 2024 | $22M | $177M | 8.0x | Series B |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Betterworks Funding History
Betterworks has raised a total of $159M across 4 funding rounds.
Betterworks' first fundraising round was a $15M Series A in September 2014. The most recent completed round was a $32M Series B in November 2024.
Betterworks funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2024 | Series B | - | $32M | $177M | Betterworks develops an enterprise continuous performance management platform that aligns teams through OKRs, feedback, conversations, and recognition to drive workforce productivity and business outcomes. The platform integrates performance practices into daily workflows, supporting real-time alignment, agility, and talent retention for enterprise customers. In November 2024, Betterworks completed a Series B funding round raising approximately $27 million, led by Emergence Capital with participation from Kleiner Perkins, PeopleTech Partners, 8VC, and Correlation Ventures, bringing total funding to $161.5 million across six rounds. The company reports a post-money valuation of $177 million on self-reported $22 million in revenue, implying an 8x revenue multiple typical for mid-range SaaS performance management vendors with 5-15x multiples based on growth and retention. This valuation is only slightly above total capital raised ($161.5M), indicating conservative market conditions or modest growth relative to investments. The new funds will accelerate product innovation, including AI-driven analytics, expand global operations, enhance customer support, and grow the R&D team to address evolving workplace needs. Betterworks has demonstrated traction with 100% year-over-year increases in platform activities like goal creation, performance conversations, and feedback for two consecutive years prior to earlier funding. Customers achieve improvements in alignment, agility, talent retention, and performance. While essential SaaS metrics like customer retention and growth rates are not publicly available, the recent round signals ongoing investor confidence amid a competitive HR tech landscape focused on intelligent performance management. |
| May 2021 | Series C | - | $61M | - | Betterworks announced an extended Series B funding round on an unspecified date around May 2021, securing an additional $27 million, bringing the total Series B to $51 million and overall financing to more than $65 million. The round was led by existing investors Emergence Capital and Kleiner Perkins, with participation from seed investors. Funds were allocated to sustain product innovation and leverage accelerated sales momentum in enterprise organizations. Betterworks provides a continuous performance management platform that integrates quarterly Objectives and Key Results (OKRs) with conversations, feedback, and recognition (CFRs) to align, motivate, and develop workforces. The platform supports enterprise agility, talent retention, and overall performance improvements. In the year prior to the announcement, key activities such as goal creation, performance conversations, and feedback doubled for the second consecutive year. External endorsements highlighted Betterworks' role in workforce productivity, with Josh Bersin noting its innovation in embedding continuous performance practices into employee workflows tailored to enterprise needs. John Doerr of Kleiner Perkins praised its approach to aligning teams on organizational and personal priorities. A separate source lists the May 18, 2021 round as $61 million total, aligning closely with the company's reported figures. |
| Mar 2019 | Series B | Emergence Capital (lead); Kleiner Perkins (lead); Plug and Play; North Coast Technology Investors; Formation 8; Correlation Ventures | $51M | - | Betterworks provides an enterprise continuous performance management solution that pairs quarterly Objectives and Key Results (OKRs) with conversations, feedback, and recognition (CFRs) to align, motivate, and develop workforces. In March 2019, the company announced an additional $27 million extension to its Series B round, bringing the total Series B to $51 million and overall funding to more than $65 million. The round was led by Emergence Capital and Kleiner Perkins, with participation from seed investors including Correlation Ventures, Formation 8, North Coast Technology Investors, and Plug and Play. The new investment aims to sustain product innovation and capitalize on accelerated sales momentum in enterprise organizations. Betterworks reported a 100 percent year-over-year increase in key platform activities such as goal creation, performance conversations, and feedback, leading to customer improvements in alignment, agility, talent retention, and performance. Endorsements from figures like John Doerr of Kleiner Perkins and Josh Bersin highlight the platform's role in enhancing workforce productivity through integrated continuous performance practices. The funding supports Betterworks' focus on HR technology tailored to enterprise needs, positioning it in the competitive performance management software market. |
| Sep 2014 | Series A | Kleiner Perkins (lead); Pear VC; AME Cloud Ventures; Formation 8 | $15M | - | - |
Who has invested in Betterworks?
8 investors have backed Betterworks across its funding rounds, including Kleiner Perkins, Formation 8, Plug and Play, Correlation Ventures, Pear VC and AME Cloud Ventures.
Lead investors include Emergence Capital and Kleiner Perkins.
Betterworks Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Francisco, CA | 2 | Lead | Sep 2014 | |
| United States | 2 | Participant | Sep 2014 | |
| San Francisco, CA | 1 | Participant | Mar 2019 | |
| San Francisco, CA | 1 | Participant | Sep 2014 | |
| Ann Arbor, MI | 1 | Participant | Mar 2019 | |
| San Francisco, CA | 1 | Lead | Mar 2019 | |
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Start Free TrialAcquisitions by Betterworks
Betterworks has acquired 2 companies to date.
Last acquisition by Betterworks was on June 1st 2026. Betterworks acquired Rypple.ai for undisclosed valuation.
Latest Acquisitions by Betterworks
| Description | Rypple.ai is a leadership and performance coaching platform that uses generative AI to deliver personalized insights. The company integrates research in leadership, coaching, and AI to offer science-based experiences. Rypple.ai received funding from AI Fund, which is backed by NEA, Softbank, Sequoia, and Greylock. | Hyphen is a Tel Aviv-based mobile app for anonymous employee feedback and pulse surveys in organizations exceeding 500 staff. It enables real-time Q&A from interns to executives, aggregating responses into dashboards for HR analytics. Used by firms like Monday.com, Hyphen boosts Net Promoter Scores by 15 points. Launched in 2016, the platform supports 40 languages across global teams. |
| HQ Country | | |
| HQ City | San Francisco, CA | San Francisco, CA |
| Deal Date | 1 Jun 2026 | 20 Feb 2020 |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Betterworks acquisitions and their M&A valuation multiples. Start Free Trial | ||
Betterworks Competitors
Betterworks competitors include listed companies like TON Strategy and DHI Group, and private ones like Rali, hireEZ, Benepass and Patriot Software.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Alpharetta, GA | Private | - | - | $175M | - | |
| San Francisco, CA | Private | - | - | $174M | - | |
| United States | Publicly listed | $13M | ($148M) | $170M | 11.0x | |
| New York City, NY | Private | - | - | $195M | - | |
| Canton, OH | Private | - | $3M | $205M | - | |
| United States | Publicly listed | $128M | $2M | $217M | 2.0x |
Betterworks Public Comps
Betterworks is still privately-owned, but its public comps include Coocon, Domo, TON Strategy, Optim, dotDigital Group, User Local, Appen, Saltlux, DHI Group and Datawalk.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $51M | $22M | 1.2x | 1.2x | 2.7x | 3.6x | |||
| $319M | ($48M) | 1.0x | 1.0x | (6.5x) | 9.5x | |||
| $13M | ($148M) | 11.0x | 11.0x | (1.0x) | - | |||
| $75M | $20M | 1.9x | 1.7x | 7.2x | - | |||
| $113M | $33M | 1.3x | 1.2x | 4.5x | 3.7x | |||
| $34M | $15M | 2.7x | 2.8x | 6.1x | - | |||
| $231M | $9M | 0.7x | 0.6x | 16.9x | 7.2x | |||
| $30M | ($5M) | 3.8x | - | (22.9x) | - | |||
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Common questions about Betterworks
| When was Betterworks founded? | Betterworks was founded in 2013. |
| Where is Betterworks headquartered? | Betterworks is headquartered in San Francisco, CA, United States. |
| Is Betterworks publicly listed? | No, Betterworks is a private, VC-backed company. |
| What is Betterworks' valuation? | Betterworks was last valued at $177M in its Series B in November 2024. |
| How much funding has Betterworks raised? | Betterworks has raised $159M across 4 funding rounds. |
| What was Betterworks' last funding round? | Betterworks' last funding round was a $32M Series B in November 2024. |
| Who are Betterworks' investors? | Betterworks' investors include Kleiner Perkins, Formation 8, Plug and Play, Pear VC, North Coast Technology Investors, Emergence Capital, AME Cloud Ventures and Correlation Ventures. |
| What is Betterworks' revenue? | Betterworks' latest recorded revenue is $22M (November 2024). |
| What is Betterworks' revenue multiple? | Betterworks' latest valuation implies a 8.0x revenue multiple ($177M valuation on $22M of revenue). |
| Which companies are comparable to Betterworks? | Companies comparable to Betterworks include Rali, hireEZ, TON Strategy, Benepass, Patriot Software and DHI Group. |
| How many companies has Betterworks acquired? | Betterworks has acquired 2 companies, including Rypple.ai and Hyphen. |
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