HelloTeam Lands $3.5m to Bring Employee Engagement and Performance Management into the Post-COVID Future of Work
Boston, August 18, 2020 — HelloTeam, the all-in-one performance management and employee engagement platform, has received a $3.5 million seed round led by Boston-based Underscore VC, which was joined by Osage Venture Partners, Ventureforgood, and others. The new round 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, who grew her previous company to a $1 billion valuation with more than 500 employees across multiple offices, HelloTeam’s platform helps companies foster a connected culture, which thrives from continuous recognition and feedback.
Demand for HelloTeam’s people management platform has surged during the pandemic as companies face three immediate challenges: enabling 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 inclusion 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.”
For companies planning to stay remote for the foreseeable future, HelloTeam boosts employee productivity and retention. Modern workforces need 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 to sustain a company’s work culture and identity. These and other features provide business leaders with the insights they need to build a stronger, performance-driven workforce in a remote environment, and provide data-informed results to shape people strategies.
Additionally, companies planning to return to work benefit from new functionalities designed specifically for the current environment, including 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. To encourage best practices, 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.
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. Customers can purchase HelloTeam’s innovative platform on the ADP Marketplace or by visiting www.helloteam.com.
About Underscore VC
Underscore VC is a Boston-based venture capital firm that backs bold entrepreneurs from seed to series A with an aligned community designed to fit each startup’s unique needs. www.underscore.vc
About Osage Venture Partners
Ventureforgood is an investment holding company set up by John Simon that dedicates the “carried interest” to enable better outcomes for children and families via life-changing non-profits like The GreenLight Fund (www.greenlightfund.org).
HelloTeam Announces #InternsMatter Initiative, Offering Free Tools to Help Organizations Manage Interns During the COVID-19 Pandemic
HelloTeam, a Boston-based SaaS company known for its user-friendly, enterprise-level platform for enhancing employee experience and performance management, has launched the #InternsMatter initiative. This initiative will help companies tackle intern engagement and productivity in the new environment of remote work that has sprung up as a result of the COVID-19 virus.
With #InternsMatter, HelloTeam is now allowing companies to manage interns using its full platform, completely free of charge. Organizations can take advantage of a globally recognized all-in-one system that allows managers to know their interns more deeply on a personal and professional level. With HelloTeam’s platform they can give virtual recognition, track goals and milestones, communicate with peers and supervisors, administer performance reviews, and launch surveys. The only cost is a user fee that applies to managers and administrators.
“Internships set the tone for the rest of one’s professional career,” says HelloTeam CEO and Founder Tanya Bakalov. “Looking back, I fondly remember the time I spent at Deloitte as an intern. The practices they put in place are what made us all so successful in such a short amount of time, and the skills I learned set the tone for the rest of my career. To make interns successful in the current crisis, we need to immerse them in the work as we would any other employee. This includes publicly recognizing their achievements, holding regular manager one-on-ones, keeping our fingers on the pulse of their experience, and giving constructive feedback.” This is extremely important, she says, because, “we want to create a unified culture that these interns feel a part of as meaningful contributors. How we manage our interns during this crisis will define our legacy, and it will affect employee loyalty to our companies. I am passionate about helping organizations and employees succeed in this climate. This initiative is our way of ensuring that the interns, many of whom are recent graduates, have a path to future employment.”
From now through October of 2020, organizations can take advantage of HelloTeam’s full suite, including built-in integrations like ADP and Single Sign-On Options with Microsoft and Google, by visiting HelloTeam.com
The negative impact of employee turnover, and the positive value of employee retention, cannot be understated. We tend to receive more satisfaction from jobs that match not only our skills but also interests and personality traits.The process by which we match candidates is the most critical (and controllable) Read more
Want to achieve employee happiness? There is undisputed evidence that when employees are engaged and happy, organizations thrive. If you have been surveying employees via an annual questionnaire, it is a good baseline to gaining insights into your company’s broad engagement efforts. Read more
With an unemployment rate of 3.9% and only 29% of millennials reporting that they are engaged in their jobs, attracting and retaining top talent has never been so challenging.
As more millennials are entering the workforce, with them they bring changing needs and demands, Read more
“If your actions inspire others to dream more, learn more, do more, and become more, you are a leader.”
The ultimate goal of anyone in a leadership Read more