HR Tech Spinout Performica Closes on its Seed Round

Santa Cruz, CA ( Tuesday Feb 7, 2023 @ 7:00 AM Pacific —

Performica, software helping companies transform people risk into their superpower, announced that it has raised $3 million in its seed round of funding.

Led by Surface Ventures and Bowery Capital, and supported by Geek Ventures, the round opened in December of last year and was quickly oversubscribed, indicating how Performica is becoming renowned in the human resources technology space for helping companies leverage real-time data to create better workplaces.

Performica’s suite of software solutions leverage its OrgGraph™ technology, which gives customers real-time visibility into the dynamic and cross-functional work that drives innovation in today’s economy. Performica solutions help customers increase retention of key personnel, increase engagement and performance, as well as manage disruptive organizational change (reorganizations, M&A, and leadership changes) turning people risk into key competitive advantages.

“We spend more time with our coworkers than with our families, yet survey after survey shows that most people are unhappy with their jobs,” said Alex Furman, Chief Executive Officer at Performica. “Our mission is to use data and prescriptive analytics to help busy and distracted leaders make work NOT NOT awesome, and we’re thrilled to have Surface, Bowery, and Geek Ventures join us on our journey.”

As Performica only launched commercially in 2022 after years of being an exclusive, in-house use tool at Invitae (NYSE: NVTA), the company will use the $3 million raised to accelerate growth and expand its use of prescriptive analytics to help clients focus on their workforce as their number one asset, instead of “people risk” that needs to be managed.

“As a co-founder of Invitae who was intimately involved in people and culture at the company, Alex is acutely aware of the problems that scale-ups face in managing people, and the Performica team brings deep domain expertise in HR,” commented Gyan Kapur, Managing Partner at Surface Ventures. “In the current environment, understanding who your key employees are, and retaining and growing them will be even more critical as companies need to do more with less, and Performica’s network-driven approach is uniquely positioned to solve this pain point. We are excited to back Performica and work with the company to help them grow.”

Loren Straub, General Partner at Bowery Capital, added “Performica is giving CHROs the analytics, insights, and intelligence to make truly data-driven decisions when it comes to their most important asset: their people. We see Performica as the future operating system powering all HR departments and ultimately making for a more productive and happy workforce.”

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