RiseKit, a Chicago, Illinois-based startup that wants to revolutionize the way businesses find diverse and untapped talent, recently revealed that it has raised $4.75 million in funding
RiseKit is a SaaS firm that is using technology to reimagine workforce development. In order to overcome whatever employment challenges businesses may have, their software connects jobless and underemployed people from underserved neighborhoods with jobs, training programs, and other services.
“We must include untapped, under-represented, diverse, and overlooked talent in our workforce to help people overcome poverty. But it’s costly for companies to do that since 100 million people don’t use LinkedIn or Indeed but instead utilize community organizations to gain employment, we’ve found that corporations can only partner with five to 50 community organizations, while there are over 200,000 that they can source from in the US,”
said Matt Strauss, CEO of RiseKit.
Mudit VP, Stand Together Ventures Lab, Sylvie Légère, Steve Sarowitz, Thad Wong, Tom Gimbel, Ryan Daube, Scott Kallick, Verte Opportunity Zone Fund, and Prota Ventures are some of the investors in the round.
RiseKit intends to use the financing to develop behavioral and skills-based machine learning models that will tailor a jobseeker’s route to obtaining a fulfilling and financially beneficial job while cutting the time and expense associated with finding qualified candidates for businesses.
RiseKit intends to enable underserved groups, including veterans, the homeless, ex-offenders, primary caregivers, refugees, and immigrants, to have access to work opportunities and tools that can help them get beyond hurdles to employment.
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