RallyPoint said Monday that it has secured $5 million in Series A funding. San Francisco based DBL Investors led the round. Based out of the Harvard University Innovation Lab in Boston, RallyPoint is an online network for the military community and its supporters.
BOSTON, MA–(Marketwired – Nov 4, 2013) – In anticipation of Veteran’s Day, as corporate recruiters and human resource professionals step up their efforts to recruit, hire, and retain military talent, RallyPoint announced it has raised $5 million in venture capital to accelerate development of corporate talent solutions for its fast-growing professional military networking platform.
The platform represents an enterprise-level collaboration network that is connecting the military, veterans, and those supporting them. The Series A investment round, which brings the company’s total funding to $6.6 million, was led by San Francisco based DBL Investors, a firm that was also an early investor in Tesla and Pandora. RallyPoint will use these funds to accelerate expansion of their military recruiting solutions, which they believe will redefine the way corporate hiring managers connect with and recruit military talent.
The investment comes as RallyPoint marks its one year anniversary and launches out of beta. RallyPoint now has more than 125,000 members, representing both active military and veterans, with up to 1,000 new members joining per day. As one example of adoption, nearly 1 in 10 members of the active duty Army, the military’s largest branch, now use RallyPoint from bases around the world. Members’ ranks range from General-level officers to junior enlisted, and their skill sets cover the full spectrum of military talent. RallyPoint’s military veteran members, meaning those who formerly served, represent over 10,000 employer-companies on the site.
“We understand the value for candidates to be able to network with those who have shared military experiences and vernacular to transition to the private sector, which is why we’re using RallyPoint to attract candidates earlier and more efficiently for ideal career matches within our company,” said Dan Hawksworth, vice president of global staffing at Honeywell. “For us as a company, RallyPoint is the ideal way to get in front of this talented group to brand and promote ourselves as a military friendly employer.”
To accelerate its employer solutions, RallyPoint has partnered with several top Fortune 500 firms with a focus on hiring the right military talent, including Honeywell, DuPont and Bloomberg LP. The network gives these corporate partners a way to establish their brands inside RallyPoint’s gated military community, creating interactions between brands and the specific military demographics they wish to reach.
Those companies and hiring agents looking to reach RallyPoint’s community of military talent may visit www.rallypoint.com/employers today to start finding, recruiting, and hiring already qualified candidates.
“Our rapid growth is affirmation that employers and our military peers want a professional platform like this,” said RallyPoint CEO and co-founder Yinon Weiss. “Our members are able to start networking and build decisive relationships long before leaving the military, while companies value the ability to bypass the clutter and offer opportunities to the military community directly.” Weiss concluded, “We’re able to facilitate those meaningful relationships in a trusted setting, supporting those hiring managers who want to attract and build a pipeline of military talent.”
RallyPoint offers a powerful enterprise-level collaboration and networking platform, exclusively for the military community and its supporters. The company is reinventing the way brands and corporate hiring managers connect with and recruit military talent. RallyPoint networks together current and former US service members and employers, helping members grow their influence and professional relationships across both the military and civilian sector. RallyPoint was founded by two Iraq War veterans who first met near Baghdad and later reunited at Harvard Business School. Visit www.RallyPoint.com to learn more.