Fuel50, creator of the world’s fastest-growing career experience and talent mobility platform, has recently announced it raised $14 million in Series B funding, led by PeakSpan Capital. 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.
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.
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