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Center for Innovative Technology Invests in Arlington-Based PerformYard

The Herndon-based Center for Innovative Technology (CIT) said on Wednesday it has invested an unspecified amount in Arlington-based PerformYard, a developer of performance management software for employees ands teams. CIT made the investment through its GAP Funds, a family of seed- and early-stage investment funds targeting Virginia-based technology, life science and clean tech companies. Ben Hastings, the company's co-founder and CEO, said the funds will "help accelerate our growth into 2014 with new product enhancements and expansion of our sales team." PerformYard's platform lets employees document achievements and feedback in real-time. The idea, said the company, is to directly link employee performance to corporate results.

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