RiseSmart is a next-generation outplacement solutions service that has raised $11 million in growth equity financing. Accel-KKR led the round of funding with participation from previous investor Norwest Venture Partners. The funding will be used for sales and marketing. Greg Williams, managing director of Accel-KKR, will join RiseSmart?s board of directors.
?Corporate outplacement is a billion-dollar business in the United States. Accel-KKR?s investment is further validation that this market is embracing new approaches to outplacement services that leverage the latest technologies and are tightly focused on results,? said RiseSmart founder and CEO Sanjay Sathe. ?With this investment we are poised to do nothing less than lead a revolution in outplacement and career management.?
RiseSmart has two core services: an outplacement solution called RiseSmart Transition and an employee-centric career-management platform called RiseSmart Compass.