WorkSimple, a software platform to help organizations manage and measure employee performance, is closing shop. The startup had raised north of $2M funding since launching in 2010.
A bold venture into a space ripe for disruption, WorkSimple was an enterprise SaaS platform with a vision to change the way employees and companies viewed performance—and one another—based on actual productivity and social goals that happen throughout the workday.
The 14 person team had straddled Minneapolis and San Francisco with development headquartered locally and sales/marketing/support in the Valley. The team had a few necessary ingredients like paying customers and recurring revenue, but wasn’t able to gain enough momentum to cross the chasm into a mainstream market.
As an enterprise business, their model relied heavily on direct sales, something CTO and Co-founder Ben Moore says they embraced a little too late. “We had solid traction, great usage, and a nice product,” said Moore, “but we got caught in a space where we couldn’t raise more money and we couldn’t reach profitability with existing cash flows.”
WorkSimple didn’t work, but the team insists the enterprise software space in the domain of human resources and people/performance management is still ripe for disruption and innovation. Indeed, there are some exciting and emerging companies in Minnesota working on platforms at the intersection of social engagement, talent acquisition/retention, and performance.