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Venture Capital News: QOREBOARD Secures $1.6M Seed Round

HOUSTON, TX, QOREBOARD, a fast-emerging provider of Performance Management as a Service (PMaaS) solutions, today announced it has completed a $1.6 Million seed round.
The round was led by IDEA Fund Partners, a technology-focused early stage venture capital firm. Lister Delgado has joined the company's board of directors as part of the financing.

During the past year, QOREBOARD has seen a significant increase in demand from large enterprise accounts, key executive appointments, and market momentum in the white-hot areas of dashboards, messaging, interventions, alerts and insights (DMI.AI™) that drive and accelerate employee performance. The seed funding will enable the company to accelerate its product development and continue to expand its operation to meet strong customer demand.

"QOREBOARD's solution is well-timed for the growing need for an automated coaching and employee engagement platform that enables managers to inspire people to reach their potential," explained Mike Midgett, Founder and CEO, QOREBOARD. "Our platform transforms an enterprise's approach to performance management with inspirational micro-goals, actionable insights, micro-adjustments, feedback and coaching, while curating the perfect improvement plan to an audience of one."

"At IDEA Fund, we strive to identify investments that are poised to capitalize on technology that will change the dynamics of their market," noted Lister Delgado, Managing Partner, IDEA Fund Partners. "QOREBOARD is coupling performance management and machine learning to track employee/manager interactions to produce the optimal improvement or coaching plan for each individual. This is already changing the way large companies target improvement suggestions."

QOREBOARD's solution is not only attractive to companies, but welcomed by employees. With quantifiable performance information at their fingertips, employees are empowered to take responsibility for their own performance. QOREBOARD's machine learning and predictive modeling service clarifies employee goals, drives employee motivation, boosts learning and provides real-time, data-driven feedback. As a result, QOREBOARD fosters a more engaged workforce with a clear way to measure employees' performance and their impact on the business.

"QOREBOARD's Performance Management as a Service solution creates dashboards, messaging, notifications and gamification that breakdown employee goals into micro-goals," commented Midgett. "Small goals that are achievable generally produce over-performance in the long run and make people feel like they can win every hour of every day. That is what QOREBOARD is all about."

QOREBOARD is a performance management as a service solution built on machine learning technologies. It motivates employees with just-in-time employee coaching and fast and effective goal management. We do this through the use of dashboards, messaging, interventions, alerts, insights and gamification that inspires employee performance. Follow QOREBOARD on LinkedIn and Twitter.

PMaaS, DMI.AI, and Microgoals are trademarks of QOREBOARD. All other trademarks and service marks are property of their respective owners.
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