In seeking to carve out a share of a $15 billion talent mobility industry, MOVE Guides has closed a first major institutional funding round having grown by ten times in the last year.
The $8.2 million transaction has been closed so that MOVE Guides can further expand its offering that is currently in use by companies such as exercise clothing brand lululemon.
MOVE Guides has created a service that aids companies, governments and other institutions in moving talent mourned the globe. Its main product, Talent Mobility Cloud, brings together move planning, mobility management and global vendors.
Speaking to GrowthBusiness, founder and CEO Brynne Herbert says that the company’s tenfold growth over the last 12 months can be attributed to the fact that three quarters of businesses plan to increase the population of mobile employees despite only 2 per cent believing a ‘world class’ mobility function is in place to do this.
‘Our timing and understanding of the market has met the demand from multinational firms. We believe the talent mobility market is at a fundamental tipping point, and nearly every multinational firm will drive revenue growth from outside their home markets in the future,’ she adds.
‘We hear this consistently from C-suites and see it in annual reports. This timing, coupled with our rapid growth and strong client adoption over the last 12 months, made it the right time to raise new funds.’
Other investors contributing to the round alongside Notion Capital and New Enterprise Associates (NEA) include ex-chief human resources officer at Yahoo! David Windley and former VP for EMEA and APAC at Workday Andy Leaver.
More on Notion Capital:
- Facebook and Twitter tool Glow Digital Media closes funding round
- UK tech venture NewVoiceMedia secures £29 million
- Doug Richard-advised Brightpearl nets eight-figure funding deal
Jos White, partner at Notion Capital, comments, ‘MOVE Guides is transforming talent mobility with its market-leading software-as-a-service platform and, at the same time, meant expectations of a new generation of employees.’