Performance management startup Mesh raises $11 mn for US, APAC expansion

Performance management startup, Mesh, said it has raised $11 million in Series A funding, led by RTP Global. The HR tech company co-founded by Gaurav Chaubey, Saurabh Nangia and Rahul Singh in 2020, said it has observed 16X growth in revenue since its foundation. The new capital raised will primarily enable Mesh to focus on building a global team for further expansion in the US and APAC (Asia Pacific) markets.

“Traditional performance management tools were built for an era where companies were slow-moving pyramids. Today, if you continue to drive only top-down performance reviews, your top talent will leave and as a business you’re likely to get disrupted very soon,” said Gaurav Chaubey, co-founder and CRO, Mesh. “Mesh helps modern companies scale a culture of real time performance and growth conversations across peers, managers and teams. Our vision is to enable 30 million people to achieve their full potential at work by 2030”.

The platform continues to successfully manage a wide pool of modern soon-to-be unicorns and unicorns across sectors, including ShareChat, CRED, Groww, Pipefy and others. Prior to raising Series A, Mesh had raised a seed funding of $5.1 million in 2021.

“We are delighted with the consistent support and appreciation we have received from our investors and early customers. Last year we solved for the key unmet needs of our customers,” said Saurabh Nangia, co-founder and CEO, Mesh. “This year we’re excited to double down on enhancing user love and expanding further in global markets. We're building a truly multi-generational company that will continue to reimagine how people perform and grow in the ever-changing future of work.”

Mesh makes it easy for employees to manage goals, share feedback, and run one-on-ones. Companies globally are forced to administer traditional performance reviews that rely heavily on top-down feedback. Mesh kills this unhelpful process by enabling transparency around goals, continuous feedback, and coaching conversations.

“Last year, we backed Mesh based on the strength and the vision of the team,” said Madhur Makkar, RTP Global. “Since then, the team has executed really well to not only onboard stellar customers but also delight users. Leading this round was a no-brainer for us and we are thrilled for this continued partnership as Mesh builds a distinctive brand around the future of work.”

The US-headquartered HRtech startup has grown to a team of almost 50 employees spread across four countries. In addition to benefits and offerings like equity ownership, unlimited and no questions asked time offs, learning allowances, the company said all decisions and actions at Mesh are driven by their core values, L.o.v.e. - act with love, nurture openness, drive velocity and think exponential. Equipped with a multi-layered tech stack, the company has gained prominence across industries in Southeast Asia and the US, with upcoming plans to further expand in APAC and the US.