PeopleMatter, a provider of talent management solutions, has secured a USD14 million Series C funding round led by Morgenthaler Ventures. Existing investors Noro-Moseley Partners, C&B Capital, Intersouth Partners and Harbert Ventures also participated.
“While other talent management companies like SuccessFactors, Taleo and Workday focus on the white-collar, career professional, PeopleMatter is the only company that caters to hourly workers in the service industry,” says Gary Little (pictured), Partner at Morgenthaler Ventures and new PeopleMatter board member. “This is a USD2.5-billion market that’s underserved and rapidly growing. There is a huge opportunity here. The PeopleMatter Platform isn’t just an HR software system; it’s a way to connect and communicate with today’s mobile-social employees. These solutions offer a whole new level of engagement and will fundamentally change how employers and employees interact in the workplace.
“Now, businesses like restaurants and hotels — which typically face high turnover and disengagement — can capitalise on technology to improve process efficiency and retain their top performers,” Little added. “PeopleMatter’s vision to create an entire talent network in the service industry is both innovative and light-years ahead of where any other company is in this space.”
The funding follows a record year of sales and exponential growth for the Charleston, SC-based software company. PeopleMatter also added two new modules, PeopleMatter LEARNTM and PeopleMatter SCHEDULETM, to its Software-as-a- Service (SaaS) platform. The Platform also includes PeopleMatter HIRETM, which has processed more than 238,000 applicants since its September 2009 launch.
With these integrated solutions, organisations can quickly and easily manage all of their applicant tracking, hiring, onboarding, training and scheduling processes in one place. Powerful, easy-to-use online tools help companies increase efficiency, retention and ROI, and ultimately improve their customer service. A new smartphone app deployed at the 28 February SCHEDULE launch allows PeopleMatter to start directly interacting with frontline employees.
“This is an incredible time for PeopleMatter. We have high goals and are right on track for doing exactly what we’ve promised: filling a void in a niche market that no one else had comprehensively addressed,” says Nate DaPore, President and CEO of PeopleMatter. “We are incredibly proud of what we’ve been able to achieve in such a short amount of time and driven by our momentum.”
“At the end of the day, we want to be the Platform of choice for the service industry. We want PeopleMatter to be the only name employees think of to manage their schedules, build their career and connect with the industry,” says DaPore. “There’s still a way to go, but working with Morgenthaler is a big step in that direction.”
The service industry — previously overlooked for targeted talent management platforms — includes foodservice, convenience store, hospitality and retail verticals.
