PeopleMatter, provider of the fastest-growing talent management solution (S) specifically designed for hourly workforces in the service industry, announced today a $14-million Series C round of venture funding led by Morgenthaler Ventures.
This financing will continue to accelerate PeopleMatter’s product-innovation and customer-acquisition strategies. Existing investors Noro-Moseley Partners, C&B Capital, Intersouth Partners, and Harbert Ventures also participated in the round.
“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, partner at Morgenthaler Ventures and new PeopleMatter board member. “This is a $2.5-billion market that’s underserved and rapidly growing. There is a huge opportunity here."
The funding follows a record year of sales and exponential growth for the Charleston, South Carolina-based software company. PeopleMatter also added two new modules, PeopleMatter Learn and PeopleMatter Schedule, to its Software-as-a- Service (SaaS) platform. The Platform also includes PeopleMatter Hire, which has processed more than 238,000 applicants since its September 2009 launch.
“The PeopleMatter Platform isn’t just an HR software system; it’s a way to connect and communicate with today’s mobile-social employees,” Little says. “Now, businesses like restaurants and hotels—which typically face high turnover and disengagement—can capitalize on technology to improve process efficiency and retain their top performers.”
With these integrated solutions, organizations 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 Feb. 28 Schedule launch allows PeopleMatter to start directly interacting with frontline employees.
"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. “At the end of the day, we want to be the platform of choice for the service industry. 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.
“Our research shows that there is a market need for dedicated hiring and talent management systems focused on the service industry,” says Dr. Katherine Jones, director and principal analyst, HCM Technology, Bersin & Associates. “Securing this kind of financing is a major move toward addressing that market need and achieving the ambitious growth the company has put forward.”
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