RiseSmart raises $3 Million in Equity Financing
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SanJose: RiseSmart, an outplacement and recruitment process outsourcing (RPO) solutions provider, has completed $3 million in equity financing. The funding would help the startup to expand new markets and develop its 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 Venturesand angel investors since its launch in 2007. "The company has developed recruitment and outplacement solutions utilizing its proprietary technology which leverages Web 2.0 and social networking features and capabilities of its solutions for growing roster of Fortune 500 enterprise clients," said Venkat Mohan, General Partner at NVP. RiseSmart provides talent management solutions at the two most critical talent transition points: joining and leaving an organization. "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," said Sanjay Sathe, RiseSmart Founder and CEO. They have a common technology platform to ensure better clients' recruitment and outplacement programs. "RiseSmart's management team has maintained a laser focus on listening to its customers and to consistently exceed their expectations," said Sanjay Subhedar, Managing Director of StormVentures. The company currently deals in three solutions, Transition Concierge, an outplacement service to help exiting employees find new positions, Recruit Concierge, a recruitment process outsourcing (RPO) solution for finding new talent and SmartRedeploy which is a Software-as-a-Service solution.

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