Orange Fab Fellow Rallyteam, a startup delivering talent mobility solutions for internal job opportunities, raised $8.6 million in Series A funding co-led by Norwest Venture Partners and Storm Ventures.
Every company faces a critical challenge when it comes to attracting and recruiting talent. Many startups already provide solutions to it. But, what about keeping existing employees and hiring from within? Employee turnover has been on the rise in the U.S. for the last several years, curbing growth and cutting profits. 1 in 3 employees plans to leave their current role within the next 12 months. Most people believe changing companies is a better way to reach the next steps in their careers. Rallyteam helps employees to move upward within their current company and find them a role that suits their career development goals so they stay. This saves time and money replacing lost talent, which can cost 400% of a highly-skilled employee’s salary.
The startup is working with companies that have at least 5,000 employees. Better yet, it’s proven to work. After a Rallyteam rollout, eBay reported a 30% increase in employee engagement. Rally team joined Orange Fab in 2013, and we’re proud to have supported such a top-notch team. On working with us, Rallyteam’s CTO Huan Ho commented:
“It’s been an absolute pleasure working with Orange Fab. They have continued to help us through their global network by directly connecting us to enterprise clients. This new funding will allow us to scale our teams so that we can continue serving more clients and delivering exciting new features.”
Well, congrats guys! We look forward to following your continued success.
If you’re interested in how Rallyteam can help retain your workforce, contact them here.