Workplace tech startup WithYouWithMe (WYWM) has closed an oversubscribed growth investment round, led by Perennial Value Management and Alium Capital Management.
The Australian startup will use the AU$5 million to further expand its specialised software offering, accelerate hiring and scale operations at home and abroad. It expects the second half of 2019 to be a stage of hypergrowth for its software development.
Originally founded to help military veterans transition to civilian work, WYWM has built a platform to test individuals and teams, identifying a worker’s capabilities for a variety of technology roles. It offers accredited training courses in high-demand sectors like cybersecurity and robotic process automation (RPA), providing immediate connections to employers with open jobs that match a worker’s identified capabilities.
The startup has used this method to aid hiring and retrenchment for organisations including the Department of Human Services, Deloitte, Westpac, Accenture and Commonwealth Bank of Australia.
“We believe WithYouWithMe has done a great job of monetising its product so far. The company’s ability to transition into a market network company with an attached SaaS workflow is a strong strategy. They are in the early stages in penetrating the US market with this strategy,” said Ryan Sohn, Investment Analyst, Perennial Value Management.
“The tailwinds for cyber security are very strong. WithYouWithMe is in a unique position to capture a portion of this market through the recruitment cycle.”
Luke Rix, Co-founder, WithYouWithMe said, “The way companies do talent is broken and WYWM is on a mission to fix it. We help businesses and individuals find and train for technology jobs based on their aptitude and attributes — not just lines on a CV.”
“We’re focused on further developing our world-class software, building the team and expanding operations so that Australia can start unlocking the total potential of its workforce. We are thrilled to have new investors on board and to have the continued support of our long term investors and community in this vital stage of the business,” Rix said.
The raise was also joined by a number of return investors and managed by Clinton Capital Partners.