RiseSmart raises $3 million in equity financing
By siliconindia   |   Thursday, 16 December 2010, 09:25 IST
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San Jose: RiseSmart, a provider of outplacement and recruitment process outsourcing (RPO) solutions, announced that it has completed $3 million in equity financing to continue its aggressive expansion into new markets and further the development of its 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," he added. Venkat Mohan, General Partner at NVP said, "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." RiseSmart's solutions mainly include 'Transition Concierge' which leverages a blend of technology and personal interaction to optimize time-to-placement for laid-off workers. It delivers personalized job leads, as well as other job search tools, to eligible employees on a weekly basis. The 'Recruit Concierge' offers full life-cycle recruiting for an organization's hiring needs. 'SmartRedeploy' is a Software-as-a-Service solution that helps companies to identify candidates for potential reassignment, slashing layoff and recruiting costs while retaining top talent.

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