TalentGuard, a career and talent management software startup, announced this week it has raised $4 million.
The Austin-based startup plans to use the funding for global sales and marketing expansion and product development.
LiveOak Venture Partners of Austin led the Series B funding round. Previously, the company raised $3.5 million from angels and other investors, according to a CrunchBase story.
Linda Ginac founded TalentGuard in 2010. The company has more than 80 customers including Fortune 500 companies including Campbells, Bose, Mitsubishi Chemicals and Applied Materials.
TalentGuard’s cloud-based software helps companies retain workers. The platform gives managers deep insights into the skill sets of its employees. It also uses machine learning to help employees manage their careers. It shows employees where they are within their organizations and recommends career paths.
“We are excited to have LiveOak Venture Partners as our lead investor. They’ve provided us with expert advice and guidance over the past few years, so it was a natural next step to partner with them as investors,” Ginac, CEO and Founder of TalentGuard said in a news release. “They have a strong track record as enterprise software and technology investors, experience with global SaaS businesses, and closely align with our values. This partnership with LiveOak will help us to enhance our talent management platform, accelerate growth in international markets and expand our team.”
“We’ve tracked TalentGuard over the years and have been blown away by their incredible grit and tenacity to create a comprehensive talent management platform and by their success with numerous blue-chip F500 companies,” stated Krishna Srinivasan, founding Partner at LiveOak.
As part of the funding deal, TalenGuard adds former Spredfast CEO Rod Favaron, Horizon Bank Chairman and former CFO of Dell James M, Schneider, and Srinivasan to its board of directors.
