Betterworks Named Top-Tier Software Vendor by APPS RUN THE WORLD in the APPS and CLOUD TOP 500 Market Report

Betterworks Strengths, Domain Expertise, and Key Differentiators

Founded in 2013, Betterworks is a pioneer in intelligent performance management solutions, committed to empowering workforces and organizations to achieve their highest potential. Leveraging its state-of-the-art platform, Betterworks transforms performance management by offering an enterprise-ready solution that enhances managerial efficiency and employee performance. This approach results in increased satisfaction, higher retention rates, and superior business outcomes. Integrating generative AI and data analytics, Betterworks enables organizations to make informed, data-driven decisions. Its comprehensive solution includes features such as conversations, check-ins, feedback, employee engagement, and recognition, all seamlessly accessible within the applications employees use daily.

Betterworks Recent Developments

In October 2023, Betterworks achieved a significant milestone in its mission to transform performance management and boost employee productivity. The company launched the latest version of its Intelligent Performance Management solution, featuring three cutting-edge generative AI capabilities. These enhancements streamline the processes of goal setting, delivering impactful feedback, and conducting productive performance discussions. Betterworks' introduction of generative AI tools is designed to improve the quality and specificity of communications, while also reducing the time, stress, and complexity commonly associated with performance management tasks.

Betterworks Mergers and Acquisitions (M&A) Activities

In early 2020, Betterworks strategically expanded its portfolio through the acquisition of Hyphen, a distinguished leader in employee engagement headquartered in San Francisco. This acquisition signifies a substantial augmentation of Betterworks' enterprise solution, empowering organizations to consistently glean valuable insights from their workforce and set goals that drive measurable improvements. Betterworks seamlessly integrated Hyphen's survey, polling, and recommendation capabilities into its enterprise offering, now branded as Betterworks Engage. By embracing this integration, customers gain the capacity to solicit feedback from employees throughout their entire tenure, translating these insights into actionable goals, and effortlessly monitoring progress over time.

Betterworks Customers in ARTW Customer Database

Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Betterworks applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Betterworks and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Betterworks Engage, Betterworks Go, Betterworks Feedback, Betterworks Conversation, Betterworks Calibration customers.

Betterworks Key Enterprise and Cloud Applications

Betterworks Engage, Betterworks Go, Betterworks Feedback, Betterworks Conversation, Betterworks Calibration

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Betterworks Direct vs Indirect sales

Betterworks Customers - Breakdown by Geo, Size, Vertical and Product

List of Verified Betterworks Customers

No. of Betterworks Customers: 300

No. of Betterworks Enterprise Applications Customers: 300

No. of Betterworks Cloud Customers: x

No. of Betterworks Cloud Subscribers: x

Betterworks' performance management software has enabled the achievement of over 2.1 million goals and facilitated more than 1.2 million performance conversations for customers worldwide. Esteemed organizations such as Air Canada, Colgate-Palmolive, Best Western, ExxonMobil, FedEx, Hulu, Kroger, Intuit, University of Phoenix, Freddie Mac, LendingTree, and Sony Pictures, among many others, have benefited from Betterworks' innovative solutions.

Betterworks Market Opportunities, M&A and Geo Expansions

In June 2023, Betterworks introduced Advanced Analytics featuring Diversity, Equity, Inclusion, and Belonging (DEIB) dashboards, aimed at fostering equity within performance management. This innovative offering empowers HR leaders to proactively identify and rectify biases in performance management practices, thereby promoting a more equitable and inclusive workplace environment.

Betterworks’ Advanced Analytics with DEIB dashboards provide HR leaders with the means to pinpoint sources of bias within the performance management cycle through the utilization of comprehensive metrics and analytics. These robust reports and dashboards illuminate disparities in developmental opportunities, coaching practices, performance ratings, and engagement and satisfaction scores across various demographic groups within the organization. For instance, HR leaders can readily discern if certain genders or ethnicities within specific departments are receiving unequal coaching, enabling targeted interventions to uphold fairness and inclusivity.

In May 2021, Betterworks successfully secured an additional $61 million in funding from its existing investors. This funding round significantly boosts Betterworks' total raised capital to $126 million. Betterworks intends to allocate these funds towards advancing product development, particularly in the realms of AI and analytics, fostering key integrations, and cultivating strategic partnerships. Additionally, the investment will support the expansion of Betterworks' go-to-market capabilities.

Betterworks Risks and Challenges

Strategic investments in AI and analytics, as well as fostering key integrations and partnerships, are pivotal elements for ensuring future success.

Betterworks Ecosystem, Partners, Resellers and SI

Betterworks' ecosystem thrives on seamless integrations with leading platforms such as G-Suite, Slack, Salesforce, UKG, Workday, SAP, ADP, and more. These strategic partnerships extend their reach, ensuring that their solutions are readily accessible and impactful across diverse industries.

In April 2023, Betterworks unveiled a strategic embedded analytics partnership with Visier, a globally renowned leader in people analytics. This collaboration aims to furnish HR leaders with profound insights into the factors driving employee success within the workplace. This capability empowers customers to devise targeted strategies for enhancing performance, engagement, and overall organizational success. As part of this partnership, Betterworks will seamlessly integrate Visier’s advanced analytics engine into a new offering called Betterworks Advanced Analytics, accessible through the Betterworks platform.

Betterworks Cloud Infrastructure Insights

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• Betterworks Public Cloud and Infrastructure (IaaS)
• Betterworks Platform (PaaS)
• Betterworks Application Delivery
• Betterworks Private Cloud and Data Centers

Research Methodology

Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.

Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).

For additional information on our methodologies, here's the link: