Vancouver-based startup Topicflow recently raised $1.8 million in funding from Seattle venture capital firms Founders’ Co-op and Ascend to support the growth of its software platform designed to help companies manage performance reviews. Founded in 2022, the company offers a unique approach to performance reviews, utilizing AI technology to provide continuous feedback throughout the year, rather than just during annual reviews. The platform is currently used by a few paying customers for various purposes, including 1-on-1s, team meetings, goal tracking, and performance reviews.
Topicflow’s AI-powered platform offers features such as reminders for performance conversations, analysis of meeting transcripts, peer feedback collection, and compliance with company processes. It can also identify low-performing employees or those at risk of leaving the company. The platform integrates with popular enterprise software tools like Slack, Microsoft Teams, Jira, Asana, and Salesforce, making it easier for users to incorporate into their existing workflows.
According to Topicflow co-founder and CEO Amin Palizban, traditional performance review software is often disliked by employees, managers, and HR teams due to its inefficiency and lack of integration with everyday tools. He believes that existing competitors in the performance management software space are outdated, with AI technology simply bolted on rather than fully integrated into the product. Palizban brings years of experience in the industry, having previously founded and led 7Geese, a performance management software company that was acquired in 2020.
Topicflow’s goal is to provide a modern and efficient solution for performance reviews that adds tangible business value for organizations. The platform automatically updates a data repository throughout the year, eliminating the need for a lengthy annual review process. The company aims to streamline performance management tasks, making them more manageable for employees and managers alike, ultimately improving the overall performance review experience.
Led by Founders’ Co-op, Topicflow’s seed round funding was also supported by Fortson, bringing the total funding to date to $2.2 million. With their AI-driven platform and experienced team of founders, Topicflow is poised for growth in the performance management software market and hopes to redefine how companies approach performance reviews in the future. Their focus on continuous feedback, integration with existing tools, and AI-driven features set them apart from traditional performance management software providers.
