Smarterer has raised $1.6 million in funding. Investors in this round include Rethink Education and Deborah Quazzo, founder and managing partner of GSV Advisors. Also, the company has appointed Dave Balter as CEO. Balter is replacing Jennifer Fremont-Smith. Based in Boston, Smarterer, which is also backed by Google Ventures and True Ventures, is a provider of skills assessment solutions.
Smarterer (www.smarterer.com) is a Boston-based startup backed by Google Ventures and True Ventures that is revolutionizing skills assessment to inform professional opportunities.
Smarterer has closed a $1.6MM round to fuel the development and growth of its enterprise skills assessment solution, Flock, for a total of $4.6MM raised to date.
New investors joining this round include Rethink Education, a venture firm that invests in progressive growth-stage companies at the forefront of education technology, and Deborah Quazzo, Founder and Managing Partner of GSV Advisors.
Smarterer co-founder, Dave Balter, has joined the company as CEO, replacing Jennifer Fremont-Smith. Dave brings extensive enterprise experience to Smarterer, as the former founder and CEO of a BzzAgent, a social marketing company that he sold in 2011 to dunnhumby, a division of Tesco PLC (LSE: TSCO).
According to research by Gartner, 85 percent of Fortune 500 organizations will be unable to exploit big data for competitive advantage through 2015. Smarterer’s Flock solution captures a company’s most valuable data asset – knowledge – by producing a complete skills inventory for an organization. The result is groundbreaking insight into the unique knowledge that defines an organization, and a clear understanding of where a company’s skill gaps exist.
Flock leverages Smarterer’s TeamSourcing technology, inviting internal team members to write skill test questions that express the information an individual needs to be successful in specific role. Subject matter experts inside the company curate the test content, adding, editing and deleting questions to create a consumer-friendly multiple-choice test that reflects the organization.
Flock promotes the mobility and portability of data, driving new insight across an organization. From knowledge management to learning and development to talent recruitment, Flock’s skills inventory allows enterprise companies to assess a team’s competencies. Skills inform the entire employee lifecycle, and Flock positions a company to make more informed decisions about everything from hiring, to compensation, to training and succession planning.
Smarterer’s skill tests also inform job matches for the freelancer economy, powering assessments for Elance, a global freelancer marketplace with over 2.8 million users. Elance merged with oDesk in 2013, and together, the companies have combined estimated annual billings of $750 million.
In addition, Smarterer powers skill assessment for Boston’s Care.com, on online marketplace for personal services, which serves over 4.5 million caregivers and 5.2 million families.
For more information, visit: http://www.smarterer.com
Smarterer is revolutionizing skill assessment to inform professional opportunities. Leveraging crowdsourcing technology and an adaptive machine-learning algorithm, Smarterer can quantify any skill in as few as 10 questions and 120 seconds. The company’s enterprise product, Flock, produces an organizational skills inventory, capturing a team’s unique knowledge and surfacing skill gaps.
About Rethink Education
Rethink Education invests in progressive growth-stage companies that are at the forefront of the education technology industry, and have the capacity to make positive impacts on our communities.
Rethink invests in the people, ideas and companies that are rethinking the way we learn and teach.
About Deborah Quazzo
Deborah is the Founder and Managing Partner of GSV Advisors, which she started in April 2009.
GSV Advisors is a broker dealer providing advisory services to the education and business services sectors. GSV Advisors and Arizona State University co-host the annual Education Innovation Summit in Scottsdale, AZ. This event, now in its 5th year, and attended by over 1,400 people, celebrates innovations and innovators across the education landscape from early childhood to lifelong learning.
Deborah currently serves on the public company board of Web.com (NASDAQ: WWWW), a leading provider of Internet services and online marketing solutions to small and medium-sized businesses.