PerformYard Raises $95M in Equity Funding From Updata Partners

In a significant milestone, PerformYard has raised a substantial $95 million in funding through a round led by Updata Partners, a renowned tech-focused growth equity fund based in Washington D.C. This injection of capital is earmarked for the strategic expansion of PerformYard's suite of apps and services, along with fostering the growth of its dedicated team, which currently comprises 70 professionals. The brainchild of founders Ben Hastings and Jon Malpass, PerformYard stands as a testament to its commitment to simplifying the intricate performance review process. Since its inception in 2013, the company has predominantly operated as a bootstrapped venture, relying on a $3 million seed funding round. However, the decision to secure a more substantial external investment underlines PerformYard's ambitious plans for expansion and innovation in the realms of retention, staff management, and upskilling. Led by Updata Partners, with their extensive expertise in high-growth B2B software, PerformYard is poised for accelerated growth, armed with a robust combination of capital and operational experience.