RiseSmart, a leading provider of next-generation outplacement and recruitment process outsourcing (RPO) solutions, today announced that it has completed $3 million in equity financing to continue its aggressive expansion into new markets and further the development of its industry-leading technology platform for bi-directional matching of jobs and job candidates. The talent management startup has raised an aggregate of $11.85 million from Norwest Venture Partners (NVP), Storm Ventures and angel investors since its launch in 2007.
"RiseSmart provides talent management solutions at the two most critical talent transition points: joining and leaving an organization. We leverage a common technology platform to ensure next-generation efficiency and superior results for our clients' recruitment and outplacement programs," said Sanjay Sathe, RiseSmart founder and CEO. "Through our methodology, we have consistently reduced time-to-hire for our recruitment clients and time-to-placement for our outplacement clients. This is ultimately the key to our continued growth and success. We are grateful for the support of NVP and Storm Ventures as we work aggressively to expand our market position."
"RiseSmart has developed recruitment and outplacement solutions that are truly unique in the talent management space – utilizing its proprietary technology which leverages Web 2.0 and social networking features and capabilities to provide a richer and more compelling solution to its growing roster of Fortune 500 enterprise clients," said Venkat Mohan, general partner at NVP.
"RiseSmart's management team has maintained a laser focus on listening to its customers and consistently exceeding their expectations," said Sanjay Subhedar, managing director of Storm Ventures. "This additional funding will enable RiseSmart to continue its growth and expansion to better serve its enterprise clients."
RiseSmart's solutions include:
For more information, visit www.RiseSmart.com.
RiseSmart is the leading provider of next-generation outplacement solutions. The company leverages a cloud-based technology platform, proven methodologies and one-on-one support to help employers with their workforce strategy, and displaced employees with their career strategy. RiseSmart drives significant ROI to organizations by offering affordable pricing while reducing unemployment insurance taxes and severance costs. RiseSmart has received a wide range of awards and recognition from organizations including Bersin by Deloitte, the Best in Biz, Gartner Inc., the Golden Bridge Awards, LAROCQUE, the Momentum Index, Red Herring, the San Francisco Business Times, SiliconIndia, the Silicon Valley/San Jose Business Journal, the Stevie Awards and TIE.
RiseSmart, the RiseSmart logo, Transition Concierge, Transition Concierge To-Go, SmartRedeploy, Recruit Concierge, Talent Assurance, Job Assurance, SmartConsult, SmartSource, and Transitioning Talent. Changing Lives. are trademarks of RiseSmart, Inc. All other trademarks are the property of their respective owners.
Storm Ventures focuses on seed and early stage information technology companies, particularly Information Technology and Networking companies. The team at Storm Ventures is focused on bandwidth, mobility, and intelligence as the key drivers transforming the way information is being used, shared, delivered, and protected. For more information, visit www.stormventures.com.
Norwest Venture Partners (NVP) is a leading global investment firm that manages more than $3.7 billion in capital. Headquartered in Palo Alto, California, NVP has subsidiaries in Mumbai and Bengaluru, India and Herzelia, Israel. NVP makes early to late stage venture and growth equity investments in U.S. and global companies across a wide range of sectors including: information technology, business services, financial services, infrastructure, technology enabled services and consumer. NVP has actively partnered with entrepreneurs to build great businesses for more than 49 years and has funded nearly 500 companies since inception. For more information, please visit www.nvp.com.
For more information, visit http://www.RiseSmart.com.
Woody Mosqueda, 408-993-9113