15Five, a San Francisco-based provider of tools that improve transparency and communication in organizations, raised $1m in seed funding.
Backers included Richmond Global, 500 Startups, David Sacks, John Ham, Jason Calacanis, Ben Parr, Matt Brezina, and Ben Ling.
The company intends to use the capital to expand their marketing and product development efforts, as well as increase adoption and reach more customers.
Founded by CEO David Hassell, 15Five provides a cloud-based platform that provides CEOs and managers with a conversational aggregated report of their team’s progress throughout a typical workweek.
The company released the product in March 2012, and launched out of beta phase in August 2012.