New York City-based ShareWillow, a platform for small businesses to design and manage employee incentive plans and profit-sharing, has announced that it has acquired Plentive, a Richfield-based bonus plan software company.
“The acquisition immediately extends ShareWillow’s leadership position and market share in the incentive compensation software space, making ShareWillow the clear choice for small businesses to design and manage incentive plans including profit-sharing, bonus plans and performance pay,” ShareWillow said in a release.
“We have been thoroughly impressed with ShareWillow and with their desire to embrace the amazing tool that we created. It couldn’t have gone to a better home,” said Ryan Jolley, CEO of Plentive.
“Ryan Jolley and the Plentive team have built a brilliant product and that is shown by their large, loyal customer base,” said Ryan Shank, CEO of ShareWillow. “We are extremely excited to continue to invest and innovate in this underserved market to help millions of small businesses achieve extraordinary results through employee incentive plans.”
Plentive’s platform began when Jones & DeMille Engineering realized traditional bonus systems weren’t motivating their team as they’d hoped. After trying different approaches without success, in 2017 the firm spent over a year developing a new profit-sharing model. This became Plentive, a platform designed to inspire employee performance.