Fourteen years ago, we launched our business with the belief that we could greatly improve the efficiency of service delivery for human capital management - making it automated and efficient to use from anywhere on the globe
Montreal, Quebec, (PRWEB) March 26, 2007
HR Alloy Inc., the only provider of advanced Qualification Management Systems™ (QMS), today announced an equity investment of $3 million to expand it's SaaS assessment delivery services to the talent management marketplace.
The round was co-led by Rho Canada and Garage Canada, two Canadian-based funds with strategic ties to the U.S. venture market. HR Alloy will use the capital to expand its resources in R&D, customer service, technical support and sales & marketing.
HR Alloy's founder and CTO, Paul Blanchard, started the company as Sand-Ho Software, a software development company specializing in custom applications to service the technically complex delivery of psychometric testing used in the assessment of people for jobs.
"Fourteen years ago, we launched our business with the belief that we could greatly improve the efficiency of service delivery for human capital management - making it automated and efficient to use from anywhere on the globe," said Blanchard. "As we moved from custom software development to a flexible and adaptable delivery platform, we pioneered HR-related application development in what is now being referred to as software-as-a-service, or SaaS, an on-demand Web-based model. Building QMS the way we did put us at the forefront of developing disruptive technology that allows our clients to fundamentally enhance the services and results they provide to their respective customers. The model for servicing talent management has changed."
"We are pleased to co-lead this financing for HR Alloy," said Jeff Grammer, a partner at Rho Canada. "Rarely have we seen a company with such tremendous growth potential, and a passion for innovation that extends through the whole organization. After extensive discussions with customers and industry experts, we're convinced of the company's commitment to customer-centric partnerships - and the focus on their clients' success from the use of HR Alloy's modular applications."
Tom Sweeney, General Partner and Managing Director of Garage Canada added, "Paul and his team were ahead of the curve when they made the decision to migrate to an extensible Web-based platform that seamlessly provides for both SaaS flexibility and SOA-compliant architecture for deployments in organizations of any size. Under the HR Alloy brand, they've introduced new business dynamics to their customers and future customers that were simply not possible before. We also believe HR Alloy has the clear potential to dramatically alter the global talent management landscape, becoming the standard for delivery excellence."
About HR Alloy, Inc.
HR Alloy is the only provider of an advanced Qualification Management System (QMS™) and Virtual Simulation Authoring (VSA™) for HR professionals, which enables process automation, authoring and delivery of complete recruitment and assessment systems on demand. Its unique, qualification business process language allows the company to implement selection systems to meet specific organizational needs with unmatched speed and ease. Their clients include FurstPerson, Inc., Harcourt Assessment, Personnel Decisions International (PDI), and Right Management, a Manpower Company. For further information about HR Alloy, please visit: http://www.hralloy.com
About Rho Canada
Rho Canada, based in Montreal, Canada, is dedicated to backing leading, early-stage technology-based companies. Formed in 2006, Rho Canada is affiliated with Rho Ventures in the US and leverages off Rho Ventures' 25 years of experience in investing in venture-stage companies. For more information visit: http://www.rho.com/venture_capital/canada/canada_main.html
About Garage Technology Ventures Canada
Garage Technology Ventures Canada is a Montreal-based early-stage venture fund focused on investing in technology companies with disruptive or market-shaping potential in global markets. Garage Canada is the exclusive Canadian strategic partner of Garage Technology Ventures (Palo Alto, CA) and the Band of Angels (Menlo Park, CA). For more information about Garage Canada, visit http://www.garagecanada.com
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