Press release by Business Wire
SAN FRANCISCO — Fuel50, creator of the world’s fastest-growing career experience and talent mobility platform, today announced it raised $14 million in Series B funding, led by PeakSpan Capital, with participation from existing investor Bonfire Ventures. The investment will be used to support further expansion and drive significant additions to the company’s award-winning technology. Developed by co-founders of Fuel50 Inc, Anne Fulton and Jo Mills, the Fuel50 career experience platform was designed to empower employees to have a visible career path within their organization, and to enable leaders to engage and motivate their teams, while delivering powerful talent insights to HR leaders.
Fuel50 Raises $14 Million Series B to Transform the Future of Work #Funding #EmployeeEngagement #CareerDevelopment
Amidst one of the tightest labor markets in the past 50 years, and attrition costs skyrocketing, employee retention is more critical than ever. To combat employee turnover, companies of all sizes – from Fortune 500 to startup – are using Fuel50 to drive measurable results. After deployment of its technology, Fuel50 customers experience up to 30% increase in employee engagement and an average 60% reduction in churn.
“In a world that’s rabidly competitive for great talent, leading enterprises understand and appreciate that there are deep and untapped veins of gold within their own ranks,” said Phil Dur, co-founder and managing partner, at PeakSpan Capital. “Fuel50 is at the vanguard of a huge opportunity to reframe the talent experience. We think career pathing and talent development will become table stakes for leading business in any vertical and we’re privileged to partner with the team that pioneered this category.”
Winner of the HRTech Awesome New Technology award in 2014, Brandon Hall Career Pathing Gold Excellence Award 2015 and 2016, Top 20 Global Engagement Influencer 2017 and Employee Engagement Award US Vendor of the Year 2018, Fuel50’s artificial intelligence-powered career mobility technology, empowers companies across the globe to create an agile workforce, build employee-driven career growth and drive internal talent mobility.
Fuel50 is an award-winning career experience platform that mobilizes talent, delivers inclusive career path transparency, and evolves an organization’s workforce for the future. Featuring AI-driven talent and skills forecasting from the world’s fastest-growing talent experience platform, Fuel50 is the future of work. For more information, please visit www.fuel50.com and join the conversation on LinkedIn, Facebook, Twitter and Instagram.
About PeakSpan Capital
PeakSpan Capital is a growth equity firm based in New York City and Silicon Valley, with a focused mission to be the partner of choice for growth stage entrepreneurial teams who are building amazing software targeted at business buyers of all sizes — from very small businesses to large enterprises. PeakSpan combines deep domain expertise within a select number of themes with a homegrown, proprietary technology platform providing visibility into company and market performance, to help entrepreneurs drive resilient, risk-adjusted value creation. Learn more here.