BetterWorks Raises $8M in Series A Funding from Redpoint Ventures

Published On August 2, 2011 |

BetterWorks, a Santa Monica, CA-based company that provides a platform designed to enable small and medium-sized businesses to engage, retain and reward employees, has raised $8m in a Series A round of funding from Redpoint Ventures.

This brings the total amount raised by BetterWorks to date to $10m.

The company intends to use the funds to hire new staff, and expand and continue to develop its BetterWorks Perks platform, which offers SMBs an online solution to create, manage and measure employee perks programs such as education, gym memberships, yoga studios, catering, laundry services and car washes.
The solution enables employees to connect with locally-based vendors offering discounts directly, clicking through their profile page to place the order.

In conjunction with the funding, Satish Dharmaraj, general partner at Redpoint Ventures, will join BetterWorks’ board.

Founded in 2010 and led by CEO and co-founder Paige Craig, BetterWorks is currently available in Los Angeles, ans is expected to launch soon in San Francisco and New York.

FinSMEs

02/08/2011

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