Rallyteam, a startup delivering an intelligent talent development platform, today announced an $8.6 million Series A round of financing co-led by Norwest Venture Partners and Storm Ventures. Additional investors include Cornerstone OnDemand and Wilson Sonsini Goodrich & Rosati. The new investment will enable Rallyteam to accelerate growth for its operations and platform.
Employee turnover has been on the rise in the U.S. for the last several years, curbing growth and cutting profits. One in three employees plan to leave their current role within the next 12 months, and the cost of replacing a high-level or highly specialized employee is 400 percent of that person’s annual salary. Rallyteam’s talent development platform addresses turnover and promotes retention by helping companies identify new ways to empower their employees and keep them engaged.
The platform enables companies to better understand and utilize their employees by auto-matching them to relevant jobs, projects, tasks and people, thus allowing organizations to create a more agile and engaged workforce. Helping organizations retain talented employees through skill and goal-based work, Rallyteam’s solution is delivering the meaningful opportunities today’s workforce is seeking.
Related market analysis reports:
Human Resources (HR) Software Market
Human Resources (HR) Software For Healthcare, Market
UK Human Resources (HR) Software Market