Klaar, the San Francisco-based performance-management platform has managed to raise $5 million in a Series A funding round, led by Prime Venture Partners, with Shastra VC, existing investor, investing even more in this round.
The platform intends to use this capital to onboard new clients and fund go-to-market initiatives in the US. It will also scale its India engineering hub, where it plans to increase its engineering and artificial intelligence (AI) workforce by up to 40 per cent over the next 12 months. The India hub will be central to building and innovating Klaar’s AI-powered solutions.
Klaar is entering the US market at a time of hybrid and distributed work, when HR leaders are struggling to foster engagement and retain high-quality talent, even while driving productivity.
Human-resource leaders have long sought intuitive and impactful performance-management tools. Employees too wish for their performance reviews to be fair or inspire better performance. This is where Klaar’s AI-powered intuitive platform comes in to not only make performance management predictive but also help provide clear and unbiased feedback.
It ensures that organisational goals are aligned with individual and team goals and identifies areas for improvement in real time. Its actionable insights lead to better performance and career growth.
According to Lana Peters, chief revenue and customer experience officer, Klaar, the platform “powers timely, meaningful conversations that help any leader effectively mentor and coach employees and build a high-performing team”.
As per Amit Somani, managing partner, prime VP, Klaar, this “differentiated, HR-first, AI-powered platform” will bring “clarity, fairness, and effectiveness to performance conversations”.
“Having spent years as an HR professional, constantly battling with clunky and outdated tools, I know firsthand how frustrating performance management can be. We built Klaar to solve those operational pain points,” says Sharthok Chakraborty, co-founder and CEO, Klaar.
In the words of Atri Roy, co-founder and COO, it’s a tool that combines “deep HR expertise with cutting-edge technology so organisations can finally make performance management a strategic advantage”.
