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Reflektive Raises $13M Series A and Launches Talent Development PlatformSAN FRANCISCO, May 4, 2016 /PRNewswire/ -- Reflektive, the leader in modern performance management, announced today that it has secured $13M in Series A funding led by Lightspeed Venture Partners. Reflektive will use the new funding to accelerate development of its platform, enhance customer success and hire across all departments to support its mission to revolutionize performance management. Existing investors, including Andreessen Horowitz, participated in the round, bringing the company's total funding to $17M. Due to the demand for modern performance and talent development solutions, Reflektive has experienced substantial growth since its 2014 launch. The company has multiplied its revenue by 10X year-over-year and today announced that it has surpassed 150 customers including Ubisoft, CreditKarma, Pinterest, Braintree, Twilio, Flatiron Health, Ultragenyx, Glassdoor, MuleSoft, Quantcast, Thumbtack, Hearsay Social, Doctor on Demand, Quora, AltSchool, SquareTrade, Blue Jeans Network, Digital Ocean, Mixpanel, Instacart, Xamarin and Lyft. Reflektive today also announced the launch of the Reflektive Talent Development Platform, a continuous performance solution that includes real-time feedback, performance check-ins, goal management and easily configured performance reviews. The Talent Development Platform helps companies transition from clunky, outdated performance management systems to streamlined, integrated and developmentally-based performance programs. "We have met with thousands of human resources executives who struggle with their outdated performance management processes and systems. Our technology has found a very strong product-market fit in helping companies transition to a modern and integrated performance management solution that optimizes employee performance, drives company alignment, and provides continuous talent development," said Rajeev Behera, co-founder and CEO of Reflektive. "We are thrilled to launch theTalent Development Platform and welcome Lightspeed Venture Partners to our team." The move to real-time feedback and continuous performance is a notable evolution of performance management seen in practice today in companies large and small. Not only is the traditional performance management process plagued with inaccuracies and unconscious biases, it can cost millions of dollars in employee and employer time. Industry leaders such as Accenture, Adobe, IBM and Deloitte have announced they are replacing the annual performance review with continuous performance programs. "Companies that win the war for talent are the ones that win big. Accordingly, it is mission critical for CEOs and HR heads to implement talent management initiatives that are both effective and efficient," said Mandan, partner at Lightspeed Venture Partners. "In today's world, existing HR processes can be extremely cumbersome – the team at Reflektive has built a beautiful solution to a big pain point and are helping to maximize productivity and success for companies and employees alike. We're thrilled to partner with Rajeev and his team as they redefine how companies think about talent management." The Reflektive Talent Development Platform Features:
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/reflektive-raises-13m-series-a-and-launches-talent-development-platform-300262751.html SOURCE Reflektive |