Campaign Year: 2015
Campaign Type: NZ - Private
Campaign Duration: 88
Amount Invested: N$1,185,000
N° of investors: 10
Average Investment: $118,500
% Funded: 118.5%
This career path cloud software is used by over 50 enterprise organisations worldwide including Citigroup, Bank of America and Westpac. The company addresses the fact that 70% of employees leave a role because of a lack of career development and visibility of growth opportunities. It matches the talents and aspirations of employees with potential roles within the same organisation. This empowers employees, helping them understand their career drivers, creates engaging career pathways affiliated to their roles and provides goals that are business-aligned to their values and aspirations.
Meanwhile, HR departments are provided with a relatively low cost, automated, high reach and high impact technology solution to a previously time-intensive and laborious process. Companies that have implemented the software have experienced a reduction in voluntary attrition of 50% in 3 months and a 30% engagement uplift in 12 months.
At the time of the capital raise in 2015, the company had an annual revenue of $775,000, of which $700,000 was recurring annual revenue. The business had also been aggressively expanding in the US market, successfully securing both Mastercard and AMEX. To fund the company's expansion into the US market through broad marketing campaigns and continued product development, 10 syndicates invested NZ$1.185m into the company through the Equitise crowdfunding platform.
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