Confirm raises $6.2M in recent funding to revolutionize performance reviews
Confirm, provider of a platform that injects the science of Organizational Network Analysis (ONA) into performance reviews, announced that it has raised $6.2 million in Series A funding, enabling the company to fuel product development and boost investment in sales and marketing.
The round was led by Spero Ventures with participation from SHRMLabs, Elefund, Gaingels, Black Angel Group and several existing customers. This latest funding milestone brings its total investment to $11.4 million.
“Performance reviews are broken—and approaches like continuous feedback and 360 assessments that claim to be the solution are actually making them worse,” said Josh Merrill, co-founder and CEO of Confirm. “Our mission of fixing performance management has never been more relevant, now that remote work and distributed teams are the norm and managers have less oversight into their teams’ work, performance, and impact. This investment will power Confirm’s next stage of growth and is critical to ensuring advancement decisions are based on data, not bias.”
According to the company, Confirm’s platform is powered by an approach called Organizational Network Analysis (ONA), which provides a quantitative view of performance based on every employee’s view of one another. ONA allows companies to measure performance in the way it really happens: through networks.
Through ONA, Confirm gives companies, leaders, and employees insight into high performers and those that need additional support, allowing organizations to confidently and accurately make promotion, PIP and retention decisions based on clear data—rather than subjective opinions of managers.
In addition to its ONA-powered reviews, Confirm’s platform offers several ChatGPT-4 enabled features, which the new capital will also help further develop, including:
- Auto-drafted employee reviews using input from peers and managers
- Auto-generated employee engagement survey insights
- Auto-calibrated manager ratings for employees to minimize bias in calibration sessions
With Spero Ventures’ investment, Andrew Parker, General Partner, will join Confirm’s board as a director.
“This Series A investment coupled with recognition and backing from industry-leading sources like Fast Company and SHRM reinforce the need for our solution to revolutionize the broken performance review process,” said David Murray, co-founder and president of Confirm. “I’m proud of our team and looking forward to this next phase of Confirm’s growth: creating a world where employees are recognized and rewarded for their hard work and positive impact, not their ability to play office politics.”
For more information about this news, visit www.confirm.com.