The competition is heating up here at the second day of the LAUNCH Festival, with some really high quality companies taking the stage. In what may be the first for this festival, one startup, 15Five, got an angel funding offer right there on stage from Yammer CEO and founder David Sacks, one of the judges on the panel.
The idea behind 15Five is very simple. Employees take 15 minutes to write their answers to a few questions for a weekly report, and managers take 5 minutes to read the report. Managers can then roll up the report and send the highlights to the CEO or higher-level executive at the company. In other words, 15Five helps management “surface problems, celebrate wins, discover great ideas, and stay tuned to morale” as the 15Five website explains.
The one problem with this tool is getting people to actually adopt it in companies, as they probably already use several tools to do weekly reports and tools like Yammer to spark these type of discussions. As the judges on the panel point out, 15Five will be well off working with the Yammer API to integrate the company’s organizational chart and to make 15Five an extension of Yammer as a whole – this is exactly why Yammer CEO David Sacks is excited enough about 15Five to offer them Angel funding on stage.
Launching today after a year of hard work and building the product, the team is ready to dominate. Follow them on Angel List to keep track of their progress.
Do you think 15Five has what it takes to attract corporations and businesses to add another tool into their workflow?