SuccessFactors – Profile
HQ: San Mateo, CA
Management: CEO Lars Dalgaard was VP of Marketing of InGenuity, a once high-flying, venture-backed ASP.
Investors: Emergence Capital Partners, Canaan Partners, Cardinal Ventures Capital, Greylock Management, and TPG Ventures.
Business Model: The company licenses an ASP platform that offers employee performance tools, including compensation planning, reviews, succession planning and goal and competency planning. The company already claims more than 600,000 users from 150 clients. SuccessFactors claims its in its third consecutive year of 100% revenue growth.
Competitors: Halogen Software, Salesforce.com’s SupportForce.
Dirt: Performance evaluations and the like are annoying BS for most people, but every company does them and for HR departments they are critical. So it makes sense that companies like SuccessFactors are having success. SuccessFactors provide a sense of scientific rigor and can certainly help streamline processes, particularly for large companies. This is yet another example that ASP models have huge potential.