Market Overview

Impraise Lands Series A Investment of $10.6 Million to Fix 'Broken' Performance Reviews

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Investment round is led by Keen Venture Partners and current
investor HenQ. In an increasingly competitive marketplace,
Impraise
helps companies retain and engage key talent by empowering individuals
to take ownership of their performance and development.

Impraise, The
People Enablement Platform
, raised $10.6 million in Series A
funding. The investment is led by Keen
Venture Partners
(KEEN) with participation from existing investor, HenQ.
Impraise is a web and mobile platform backed by a team of in-house
performance management specialists. The company helps organizations
reimagine performance and development processes to increase
productivity, engagement, and retention.

Asked about the funding, Robert Verwaayen, General Partner at KEEN, said,
"Feedback and appraisals have historically been seen as a necessary
evil. As more companies start to work in an agile fashion, performance
management is recognized as a function that drives real business
outcomes. Simultaneously, a younger generation of workers expect
continuous feedback and learning in their professional lives. With
entrepreneurial fervour, the impressive team at Impraise is building a
company that fits right in the heart of these shifts."

Since its founding in 2014, the Y Combinator alumnus has partnered with
200+ customers worldwide including CERN, DoorDash, and Skyscanner.

Impraise makes performance and development practices meaningful for
people, actionable for managers, and painless for HR.

  • Individuals are empowered to exchange continuous feedback in an
    intuitive way, driving ownership of their day-to-day objectives and
    long-term career aspirations.
  • Managers have the insights needed to effectively address their
    team's performance and development areas, provide real-time coaching,
    and celebrate wins.
  • With the flexible platform, HR and operational teams experience
    high adoption rates, providing a real-time view of performance across
    the organization.

With this investment, Impraise will scale its reach and grow its People
Enablement Platform with a focus on putting managers and individuals in
the driver's seat, allowing HR leaders to scale best practices.

"While most executives realize they need to improve performance and
development to retain top talent, most have no idea where to start. With
a team of in-house experts and industry leading customers, we've
developed a best-in-class product and methodology to drive impact.
Impraise plays a critical role in helping leaders maximize individual
and team performance, support company-wide professional development, and
increase talent retention,"
said Bas Kohnke, CEO and
Co-Founder, Impraise.

The average Impraise customer finds 65% of managers and direct reports
exchange more meaningful feedback, with 72% reporting the feedback
exchanged has directly improved their performance. 1

Eric Hooftman, Vice President Global Sales Leader Coaching at Elsevier,
an Information Analytics company, states, "Impraise contributed to an
11% increase in employee engagement."

When asked about the impact of Impraise, Nathan Tanner, Director of
People Operations at DoorDash, says, "Impraise is critical to our
performance management and professional development initiatives.
Impraise allows us to gather specific feedback and share it throughout
the company so we can grow together."

1 Impraise 2018 customer survey

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