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 September 2024, Betterworks introduced new tools based on large language models (LLMs) and AI to enhance performance management, increase privacy, and reduce the administrative burden on HR teams.
Betterworks’ Talent Profiles was recognized as one of the “Top HR Products of 2024” by Human Resources Executive® and the HR Technology Conference & Exposition. The solution leverages artificial intelligence to automatically update and validate employee skills, enabling better talent planning and workforce development.
Betterworks Mergers and acquisitions (M&A) Activities
In September 2024, Betterworks introduced new tools based on large language models (LLMs) and AI to enhance performance management, increase privacy, and reduce the administrative burden on HR teams.
Betterworks’ Talent Profiles was recognized as one of the “Top HR Products of 2024” by Human Resources Executive® and the HR Technology Conference & Exposition. The solution leverages artificial intelligence to automatically update and validate employee skills, enabling better talent planning and workforce development.
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 Overview
Ownership: - Emergence Capital, Kleiner Perkins, 8VC
Number of Employees: 200
Functional Market: Performance Management,
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communication, Construction and Real Estate, CPG, Distribution, Education, Government, Healthcare, Insurance, Leisure and Hospitality, Life Sciences, Manufacturing, Media, Non Profit, Oil Gas Chemicals, Professional Services, Retail, Transportation, Utility,
Betterworks Key Cloud and HCM Applications
Betterworks Engage, Betterworks Go, Betterworks Feedback, Betterworks Conversation, Betterworks Calibration
Betterworks HCM and Cloud HCM Applications Revenues, $M:
| Type/Year | 2023 | 2024 | YoY Growth, % |
|---|---|---|---|
| Total Revenues, $M | Subscribe | Subscribe | Subscribe |
| HCM Applications Revenues, $M | Subscribe | Subscribe | Subscribe |
* HCM Applications Revenues = License + Support & Maintenance + SaaS ( Hardware and Prof. Services are Excluded )
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Betterworks Revenue Breakdown by Type:
Betterworks HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets | % of HCM Revenue in the HR Segment | 2024 HCM Revenues, By HR Segment, $M | |
Betterworks HCM Applications Revenues By Verticals, $M:
Betterworks Total and HCM Applications Revenues by Region:
| Region | % of Total Revenues | 2024 Total Revenues, $M | 2024 HCM Applications Revenues, $M |
|---|---|---|---|
| Americas | Subscribe | Subscribe | Subscribe |
| EMEA | Subscribe | Subscribe | Subscribe |
| APAC | Subscribe | Subscribe | Subscribe |
| Total | Subscribe | Subscribe | Subscribe |
Betterworks Direct vs Indirect sales
| Type | Direct Sales | Indirect Sales | Total |
|---|---|---|---|
| Type % | Subscribe | Subscribe | Subscribe |
| Revenues, $M | Subscribe | Subscribe | Subscribe |
Betterworks Customers - Breakdown by Geo, Size, Vertical and Product
List of Verified Betterworks Customers
No. of Betterworks Customers: 300
No. of Betterworks HCM Applications Customers: 300
No. of Betterworks Cloud HCM Customers: x
No. of Betterworks Cloud HCM 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 2024, Betterworks holds strong growth opportunities through expansion into new industries and regions. The company is seeing increased demand from organizations undergoing digital transformation and seeking modern, AI-powered tools for performance and talent management. With the growing need for integration with popular platforms and a focus on continuous employee development, Betterworks is well-positioned to lead in sectors such as finance, healthcare, and technology. Additionally, global expansion into Europe, Asia, and emerging markets presents new avenues for long-term growth and a solid presence beyond the U.S. market.
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
In 2024, Betterworks' ecosystem is strategically designed to increase its market value through a combination of direct and indirect sales, technology integrations, and partnerships. The company primarily relies on direct sales for larger clients but is also building an ecosystem with partners – system integrators and value-added resellers – who assist clients in implementation and adaptation of the solution.
The platform is open to technology integrations with tools like Microsoft Teams, Slack, Salesforce, and others, enabling seamless embedding into existing business processes. Partnerships with system integrators create "network effects" – increased value through shared clients and joint solutions.
Additionally, Betterworks collaborates with HR consultants and cloud providers, expanding the distribution of their products and adding value through advisory, customization, and end-user training. With this holistic approach, the company is building a stable and adaptable ecosystem that enables scalability and long-term sustainability.
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:
https://www.appsruntheworld.com/taxonomy
https://www.appsruntheworld.com/FAQ
