MOVE Guides, a startup company known for talent mobility, has announced it raising $15.6 million in Series B round of funding led by New Enterprise Associates and Notion Capital.
Founded in 2012 in UK with operations in San Francisco, the startup MOVE Guides help employers arrange the shipping of domestic goods, sort out immigration and tax-related matters before an employee relocates and help in finding services that will help employees get adapted in a new country. It has a closed marketplace through which it functions and matches vendors to an employer based on their needs around each specific move. The startup partners with HR and finance departments to manage and provide complete global mobility program across 200 locations and with offices in London, New York, San Francisco and Hong Kong. Since its last funding last year, the company claims to have increased its revenue by 500% and has strengthened its client base that now includes Societe Generale, OpenTable and Adobe.
With the fresh funds, MOVE Guides plans to launch new products for the betterment of employee relocation services and to help companies estimate, manage and optimize costs. The company promises that this funding could make mobility less costly for companies and easier for employees.
Brynne Herbert, CEO and founder of MOVE Guides, “Companies today know that attracting, deploying and retaining talent at a global scale is critical to their business success. We’re thrilled that we can help achieve this with our Talent Mobility Cloud to easily manage and deliver global mobility programs across more than 200 locations.”
“Enterprises are clamouring for a software solution with enough power and agility to automate workflows and data across a fragmented value chain that spans multiple cost centers,” said Ravi Viswanathan, General Partner at NEA. “As workforce demographics increasingly shift to a more mobile workforce, this large and virtually untouched segment of the HR market is ripe for explosive growth – we believe MOVE Guides is exceptionally well positioned to be the platform of choice for employers to manage talent mobility effectively, seamlessly and with far greater cost efficiency.”
Jos White, partner at Notion Capital said, “In a short period of time, MOVE Guides has established traction in the US and Europe with companies of all sizes. The company is the clear leader in offering a next generation, cloud platform to power global mobility programmes. We are thrilled to increase our stake and welcome an expanded leadership team to the company.”
According to the studies by PricewaterhouseCoopers, it has shown employee mobility increased 25% from 2002 through 2012 which is expected to increase 50% from 2012 through 2020. Research by the firm also said that millennial believe working overseas, at least for few years to have a growth in their career ladder.