SAN FRANCISCO, April 7, 2021 /PRNewswire/ -- Pathlight, a SaaS platform that helps organizations supercharge the performance of their customer-facing teams, today announced $25 million in financing led by Insight Partners, bringing the company's total amount raised to $35 million. Insight Partners was joined by existing investors Kleiner Perkins and Quiet Capital. Other investors participating in the round include Uncorrelated Ventures, Jeremy Stoppelman, CEO of Yelp, David Glazer, CFO of Palantir, and Michael Ovitz, co-founder of CAA and owner of Broad Beach Ventures.
Pathlight's Realtime Performance Management (RPM) platform allows large, customer-facing teams to manage performance faster than ever before. By consolidating performance data, coaching, and communication in one place, the platform empowers data-driven management at every layer of the organizational chart. RPM has proven to be successful, particularly during COVID-19, as leaders and their frontline teams have needed to stay in lockstep through an incredibly disruptive period.
"Pathlight was founded to help millions of people answer a simple question – 'How am I doing at work and how can I improve?'—without spending hours sifting through dashboards and spreadsheets," said Alexander Kvamme, co-founder and CEO of Pathlight. "Every company is becoming more data-driven, but few have the technology in place to actually allow their front lines to take advantage of all of this data. Realtime Performance Management changes that by allowing companies to put frontline employees in the driver's seat, giving them everything they need—from data to coaching—to manage themselves and hit their goals. With this new round of funding, we're excited to further accelerate our growth and help companies and employees succeed in these ever-changing times."
The new funds will be used to support Pathlight's growth by accelerating sales and marketing, as well as investing in innovations to further empower frontline employees around the world to manage themselves and succeed.
"With the acceleration of digital transformation across the enterprise, it's not enough to rethink the way we work—we must also rethink the way we manage," said Jeff Lieberman, Managing Director at Insight Partners. "Pathlight is ushering in a new age of data-driven management, an ethos that we believe every enterprise will need to embrace—quickly. We are excited to partner with the Pathlight team as they bring their powerful platform to companies across the world."
This round of financing comes on the heels of significant momentum for Pathlight, marked by rapid growth and traction. Since the company's official launch in March 2020, the company acquired a number of industry-leading customers, including Twilio, Earnin, Greenhouse, and CLEAR. Pathlight also saw a 300 percent increase in user engagement as customers transitioned to remote work and more deeply adopted the platform.
"At CLEAR, we believe that customer happiness and our growth as a business are best served by investing in and empowering our team members on the front lines," said Jimmy Hahn, VP of Member Operations at CLEAR. "More than a thousand Ambassadors across the country use Pathlight every day as their single source of truth for performance and critical communication. We've been blown away by how quickly we have adopted and come to rely on the platform to keep everyone in sync. In these changing times, and in one of the hardest-hit industries during this pandemic, we see our partnership with Pathlight as critical to our future growth."
"COVID-19 created unprecedented challenges for both our customers and business model. Within a matter of days we had to transition hundreds of agents from a call center environment to remote work," said Chris Eisdorfer, CEO of ECE Contact Centers. "With Pathlight we were able to instantly bring our in-office experience to digital and increase communication and productivity across the frontline—it has been an integral solution for us to make our organization successful while working remotely."
In January, the company announced the hiring of Ramon Icasiano—one of Pathlight's first customers who has built customer teams at Netflix, Zynga, Verizon, and Earnin—as Pathlight's first Chief Customer Officer.
"Modern businesses are facing a whole new set of challenges: more competition, higher customer expectations, new generations of employees, and much more. As we all now know, the very nature of work can change in an instant. In a world with so much change, Pathlight's vision is incredibly important and timely," said Icasiano. "When it comes to technology, I've seen the good, the bad, and the ugly. This was the first time I've seen 'great'."
Pathlight is a Realtime Performance Management (RPM) platform that allows large, customer-facing teams to move faster than ever before. By consolidating performance data, coaching, and communication in one place, the platform empowers data-driven management at every layer of the organizational chart. Based in San Francisco, CA, the company is backed by such investors as Kleiner Perkins, Quiet Capital, Jeremy Stoppelman CEO of Yelp and Dylan Smith co-founder and CFO of Box, among others. For more information please visit www.pathlight.com.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.