As globalization continues its fast speed in the digital age, employees are being relocated more than ever. The latest company to capitalize on the trend is London-based MOVE Guides, a SaaS platform for employee relocation.
MOVE Guides, founded in 2012 by its CEO Brynne Herbert, has closed its latest Series C funding round at $48 million, with investments from Future Fund, New Enterprise Associates (NEA) and Notion Capital. The five-year-old software company has raised a cumulative $91 million in efforts to disrupt the traditional relocation management space worth an estimated $11 billion. In October 2015, the tech startup raised $15.6 million in Series B after inking $8.3 million in Series A about one year prior.
"Global mobility management is the next frontier for HR tech. Effectively deploying talent in the right place at the right time yields the highest competitive advantages for organizations," said Ravi Viswanathan, general partner at NEA. "MOVE Guides has developed the first cloud-based software platform to power the mobile workforce. They are disrupting traditional relocation companies and ushering in the future of talent management and workforce planning."
MOVE Guides, with a mission to power the mobile workforce, including employees on expatriate assignments, short-term assignments and relocations, suggests traditional HR systems are not designed to manage the increasingly mobile and global workforce with high fees and lack of innovation. The company will use the latest capital influx build out its market share, reportedly expanding at 200% annually, and advance its infrastructure.
Customers including market leaders across financial services, manufacturing, technology and other sectors, in over 190 countries, leverage MOVE Guide’s technology in order to gain business advantages through more agile and data driven global mobility.