Rypple, a provider of social software for workplace feedback, has raised USD7m in financing led by Bridgescale Partners.
Howard Gwin (pictured), a Bridgescale partner and former executive vice president at PeopleSoft, and Roger Martin, Dean of the Rotman School of Management, will join the company’s board of directors.
Additional investors include Edgestone Capital Ventures, Extreme Venture Partners, Peter Thiel, Seymour Schulich, Roger Martin and Joe Sigelman.
To date, the company has raised a total of USD13m in financing.
"Employees and managers are fed up with HR software that sucks. They don’t want top-down performance software focused on process, not results. What people really want is frequent, useful feedback to do their jobs better. Rypple delivers this feedback so people can stay on track, learn faster, and consistently hit their goals," says Daniel Debow, co-chief executive, Rypple. "Our customers are innovative companies including Mozilla, Rackspace, and VivaKi (Groupe Publicis). Their employees use Rypple because they love it, not because they’re forced to."
"Rapid adoption social software is providing companies big and small with a significant competitive advantage," adds Gwin. "Rypple is a key solution for companies today as it enables the process of continuous feedback. Their customers tell us that they have seen a noticeable improvement in employee engagement, focus, and performance since they started using Rypple."
