NASHUA, N.H. (BUSINESS WIRE) Claro Workforce Analytics, a platform of unique workforce insights that helps organizations improve employee engagement, reduce voluntary attrition, and discover diverse talent faster, today announces that it has raised $1.1 million in new funding led by Beta Bayview LLC, with participation from Kline Hill Partners and G-Bar Ventures. The proceeds from the financing will be used to accelerate product development and client expansion. In addition, Jim Feuille of Beta Bayview will join Claro Analytics' Board of Directors.
The internet and social media continue to change the way that people communicate and think about their careers. From talent acquisition to employee engagement, this shifting paradigm has paved the way for actionable, data-driven workforce insights to be propelled to the forefront of all Human Resources strategy. Recent research also validates this trend; according to Transparency Market Research, the Workforce Analytics market is projected to grow at a CAGR 10.8% and reach $2.4 billion by 2026.
In order to capitalize on this trend, Claro Analytics has expanded sales and marketing efforts and has made key new hires including Craig Katz to the positions of Senior Vice President, Sales, and Jarrell Chalmers to the position of Marketing Manager.
Claro Analytics' unique technology platform enables organizations to combine internal and external workforce insights to fully harness the power of integrated workforce analytics, to help attract diverse talent and retain their valuable employees. According to a recent PWC survey, “63% of CEOs said availability of skills was a serious concern” while “93% of CEOs say that they recognize the need to change their strategy for attracting and retaining talent.”
John Wilson, CEO of WilsonHCG commented, “To stay competitive in today’s global employment market, the C-Suite and HR leadership should be aligned on a shared vision about the company’s talent strategy.” He continued, “Claro technology enables us to help our clients make data-driven decisions about identifying and retaining diverse talent, improving employee engagement, and doing workforce supply and demand planning. With Claro Analytics, we extract relevant and actionable talent market insights for our clients.”
Claro Analytics uses Machine Learning algorithms to align and enrich disparate information with proprietary metadata, including patent-pending J-Score®, which has become the standard in measuring online job seeking behavior. Leading organizations increasingly rely on Claro Analytics' unique talent insights to help support elevated decision making.
“Claro clients are leveraging our sophisticated talent market mapping and analytics tools to help them identify and retain top talent in this tight labor market,” said Michael Beygelman, CEO of Claro Analytics. Beygelman continued, “We are also seeing growth in clients using Claro technology to augment traditional employee engagement surveys, and to help identify potential talent retention risk and early warning of potential workplace bias.”
“Claro is developing unique technology that helps organizations make better decisions about talent market availability and their own employees,” said Daniel Frawley, Managing Director of Falmouth Ventures LP and Claro Analytics' Chairman of the Board. Frawley continued, “Data storytelling is quickly becoming the preferred way to develop and communicate business strategy, with the Workforce Analytics category leading the way, and Claro is positioned as leader in this emerging sector.”
Organizations that are interested in learning more about Claro Analytics' award-winning workforce analytics platform are encouraged to visit http://claro.hr.
About Claro Workforce Analytics
Claro Analytics' mission is to create unique talent insights to support elevated decision making. Organizations leverage Claro Analytics' workforce analytics technology to help identify and attract more diverse talent faster, improve employee engagement and reduce voluntary attrition. Claro Analytics was named a top ten Workforce Management technology platform in 2018 by HR Tech Outlook, and was a winner of the Red Herring Top 100 North America award in 2016.