Redwood City funding news: Software and health care top recent local investments

Photo: Betterworks/Facebook
By Hoodline - Published on March 20, 2019.

Redwood City-based human resources company Betterworks, Inc. has secured $51 million in Series B funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced March 7 and led by Kleiner Perkins.

According to its Crunchbase profile, "Founded in 2013, Betterworks is on a mission to inspire, develop, and activate the modern workforce. We’ve all struggled with the outdated processes and systems used to track and encourage performance — goals set once a year and forgotten, feedback rarely or never received, progress unremarked and unrewarded — never quite knowing if our work really mattered to the company. So, we knew there had to be a better way to inspire and drive people."

The five-year-old startup has raised two previous funding rounds, including a $15 million Series A round in 2014.

The round brings total funding raised by Redwood City companies in software over the past month to $91 million. The local software industry has seen 34 funding rounds over the past year, securing a total of $678 million in venture funding.

In other local funding news, child transportation company Zum announced a $40 million Series C funding round on Feb. 28, led by BMW i Ventures.

According to Crunchbase, "Zūm is a provider of safe, efficient, and reliable child transportation for school districts and busy families. Zūm saves schools money and parents time by providing flexible transportation options through its network of highly vetted drivers and advanced scheduling, routing and tracking technology. The company currently provide children’s transportation service in the San Francisco Bay Area, all of Los Angeles, Orange County, and San Diego."

Founded in 2015, the company has raised three previous rounds, including a $19 million Series B round in 2018.

This story was created automatically using local investment data, then reviewed by an editor. Click here for more about what we're doing. Got thoughts? Go here to share your feedback.

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