Today, popular Toronto-based social software developer Rypple announced it has raised $7 million in financing led by Bridgescale Partners. With this most recent round of financing, Rypple has raised a total of $13 million.
Daniel Debow is co-CEO of Rypple:
Employees and managers are fed up with HR software that sucks. They don't want top-down performance software focused on process, not results. What people really want is frequent, useful feedback to do their jobs better. Rypple delivers this feedback so people can stay on track, learn faster, and consistently hit their goals.
Joining the company's board of directors will be Howard Gwin, a Bridgescale partner and former EVP at PeopleSoft, and Roger Martin, Dean of the Rotman School of Management.
Howard Gwin had this to say about Rypple:
Rapid adoption social software is providing companies big and small with a significant competitive advantage. Rypple is a key solution for companies today as it enables the process of continuous feedback. Their customers tell us that they have seen a noticeable improvement in employee engagement, focus, and performance since they started using Rypple.
Additional investors include: Edgestone Capital Ventures, Extreme Venture Partners, Peter Thiel, Seymour Schulich, Roger Martin and Joe Sigelman.
Debow was at the GROW Conference in Vancouver last month and sat down with Techvibes' Michelle Sklar for this interview.