BetterWorks Gets Financial Boost from Extended Series B Funding Round

BetterWorks Systems Inc. has achieved profound success since its launch in 2013. The human resources management software company is best known for producing software to support a  Continuous Performance Management process. Recently, the company announced that it  had successfully obtained $27 million in additional investment capital from an extended Series B funding round. This capital was provided by several seed investors and existing investors including Kleiner Perkins and Emergence Capital. Altogether, the software company’s total funding exceeds $65 million.

The additional investment funds will be used to maintain the current rate of innovations and product developments to meet its customers’ diverse and changing needs. BetterWorks invested heavily in product innovation for its popular cloud-based application within the last year, and the investment was worthwhile. For the last two years, the company has experienced a 100 percent growth rate in key activities accessibility. This includes performance conversations, feedback, and goal creation. These innovations fed into improved performance, talent retention, and agility by customers.

BetterWorks Systems Inc. is headquartered in Redwood City and maintains a secondary office in New York City. The company’s solution includes additional features that also provide exceptional benefits to its customers. These include analytics that provide instantaneous visibility into a company’s performance management process and Goal Science, which enables organizations to easily set, manage and monitor progress towards and ensure alignment around goals. The primary competitors of BetterWorks are companies that produce performance management programs to assist users with HR annual reviews. The BetterWorks program stands out from the competition because of its improved dashboard design, the ability of employees to publicly recognize each other’s achievements  with nudges or cheers within the platform, transparent and visible progression toward goals, and more. The company’s management anticipates continual enhancement of the application to maintain the product’s competitive edge and superiority in the marketplace.

Alex Hern – A Great Businessman

Alex Hern

Alex Hern is a great businessman that is self-employed and going all over the world helping other companies in one way or another. Alex started his career working for a company to the company moving up as he went. The main thing that this did was to teach Alex about what companies looked like and what they needed to succeed or to fail. Due to him paying so much attention to all the places he worked he was able to compile a list of checkpoints that would determine whether or not a company was successful.

As he continued to work and watch he figured that he could help companies succeed that were struggling. From that point, he went to work for himself and do just that. Alex Hern has worked for years on his own now helping young companies get off the ground and thrive. How he does this is by sticking with them and mentoring the owner of the company. He does like to work with young companies on this subject because it is a lot easier to start a clean slate in the right direction than to turn a company all the way around.

So he spent time helping companies and moving onto the next one when he is done his job while studying technology. Technology has always been something that has interested him, mainly how virtual reality works in the workplace. While he knows it has been around in an augmented form forever so that simulations and training could be done only now is technology advancing at a rapid pace. But as virtual reality is promoting businesses seem to be ignoring it altogether allowing the gaming industry to be the only ones cashing in on this great opportunity. Alex then chose to start teaching companies about VR and how it can change their company for the better through communication.

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The Sky is the Limit for GreenSky

After being added to Forbes’ top 50 FinTech companies, it is no wonder that the Atlanta-based lending innovator, GreenSky is being recognized as an industry leader. The company is still young and growing. A successful IPO this year means that the sky is truly the limit for GreenSky.

GreenSky recently went public in which they raised $824 million in capital to do so. The company’s hard work of the last 12 years since inception is finally starting to pay off in big ways. Much of the original team is still involved as primary owners of the firm.

The company has quickly moved to the forefront as one of the juggernauts of the FinTech industry. The company has also become one of the most profitable financial technology startups in the nation. GreenSky acts as a middleman for pitching loans to banks so it differentiates itself from the old industry leaders like Lending Club.

Not just a typical loan organization, GreenSky transfers much of the risk for everyday people taking on loans to its capital-saturated bank partners, like SunTrust, Regions and Fifth Third, who fund these loans. GreenSky is not responsible for any defaults. However, this is how the company makes profits; the banks pay the firm about 1 % each year for managing the loans.

The company’s business strategy is much like a payment industry company’s such as Visa or Mastercard’s business model. All of these companies act as intermediaries or as a lender although in a credit card situation it is a little different than from an outright loan. This industry is expected to grow into 2019 as people accept new options for taking on loans as opposed to credit.

The future is bright for the young company because it is now evolving into different markets. They now offer loans for healthcare solutions which is a highly sought after monetary loan purpose. Many people find themselves in a pickle when paying for ever-rising healthcare costs, but the loan company makes it easy on everyone to access payments for their necessary healthcare expenses.