San Francisco – December 8, 2015 – Everwise, the company that brings a better model for talent development to businesses and non-profits, today announced it raised $8 million in Series A funding from Canvas Ventures, Sequoia Capital and Webb Investment Network.
“We found that talent development is the second biggest challenge facing HR executives at organizations today,” said Josh Bersin, principal, Bersin by Deloitte, Deloitte Consulting LLP. Bersin by Deloitte is a leading provider of research-based people strategies designed to help leaders and their organizations deliver exceptional business performance. “Our research shows that to address this need, companies now spend an estimated more than $130 billion per year on employee development, with leadership development taking up the single largest area of spending. Companies that deliver an integrated platform for talent development, including a unique model for mentoring, can significantly enhance this market by giving employees the connections and coaching they need to learn and progress in their careers.”
Long time market leaders such as Genentech and Oracle, as well as younger, high-growth companies like Twilio, Lyft and Zendesk are examples of the more than 100 organizations using Everwise. The Everwise platform features proprietary software and a sophisticated, data-driven approach to help aspiring professionals define development goals and connect with the right mentors, peer groups and individually curated content. To further personalize this experience, the company has a dedicated team of talented professionals called “Experience Managers” that offer hands-on guidance to users throughout the process.
“We’re always impressed by the resources organizations invest in their teams, but believe that the most commonly deployed tools, like in-person training and eLearning, are insufficient to drive lasting behavioral changes,” said Co-Founder and CEO, Mike Bergelson. “Top performers want continuous, curated learning experiences that combine mentoring and on-the-job experience with great training and content. We are thrilled that Sequoia, Canvas and WIN share our vision to deliver such experiences at scale for the most forward-thinking organizations around the world.”
While the product is flexible enough to meet a customer’s full range of talent development needs, common uses include developing high-potential employees as they move through key career transitions (e.g., as first time managers), on-boarding new employees, or helping organizations improve gender balance at the leadership level.
“Everwise delivers a transformative experience,” said Canvas Partner Paul Hsiao. “They have developed a powerful SaaS platform with a proprietary learning graph to recommend both the best mentor from a unique network of operating executives and a highly curated development path. Everwise re-imagines and provides a much better model for organizations to retain and develop their talent at a 10x cost savings. Dozens of the current — and future — Fortune 500 are seeing remarkable results with Everwise.”
Every stage of the talent development process can be managed via the integrated platform; from content curation and customized assessments, to community discussions, mentor partnership tools, goal setting and tracking. The platform also provides rich analytics around participant engagement and experience feedback.
The Everwise mentor community itself is comprised of Global 1000 executives and independent business leaders whose engagement directly contributes to the growth of another high achiever while helping them build their own management skills.
Everwise will use the funding to expand the capabilities of its platform, enhance the person-to-person participant experience and further scale other aspects of the development process.
* Source: 2015 Corporate Learning Factbook
Everwise brings a better model for talent development to organizations and individuals. Our mission is to connect professionals directly to the people, resources, and tools that can help them be more productive and successful at every stage of their career.
With a founding team that includes Maynard Webb and Mike Bergelson, Everwise works with Fortune 500 enterprises, fast-growth startups, and the social sector. The company is based in New York City and San Francisco.
Additional information can be found at www.geteverwise.com.
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