RiseKit Raises $4.75 Million to Help Companies Solve Labor Shortages by Scaling Their Community Hiring & DEI Initiatives

CHICAGO, March 22, 2023 /PRNewswire/ -- RiseKit, a US-based software provider focused on innovating the ways companies source untapped and diverse talent from community organizations, has raised a total of $4.75 million to enable organizations to scale their community hiring and diversity, equity, and inclusion (DEI) initiatives.

RiseKit has secured investments from a diverse range of philanthropists, venture capitalists, and social impact investors, including Muditā VP, Stand Together Ventures Lab, Sylvie Légère, Steve Sarowitz, Thad Wong, Tom Gimbel, Ryan Daube, Scott Kallick, Verte Opportunity Zone Fund, and Prota Ventures.

With this funding, RiseKit plans to build behavioral and skills-based machine learning models to personalize a jobseeker's journey to gaining meaningful and financially impactful employment while reducing the time and cost of sourcing talent for employers.

RiseKit aims to empower marginalized communities—such as veterans, the homeless, ex-offenders, primary caregivers, refugees, and immigrants—to access job opportunities and resources that can help overcome employment barriers.

While seeking societal change, RiseKit is also paving the way to creating a Workforce Operating System to better coordinate efforts, improve the efficacy of employment and optimize the feedback loop. By integrating RiseKit's software with existing applicant tracking systems (ATSs), government agencies, employment service providers, and employers can track candidates throughout the hiring process, view shared status updates, and access in-app messaging.

"We must include untapped, under-represented, diverse, and overlooked talent in our workforce to help people overcome poverty. But it's costly for companies to do that since 100 million people don't use LinkedIn or Indeed but instead utilize community organizations to gain employment," said Matt Strauss, CEO of RiseKit. "We've found that corporations can only partner with five to 50 community organizations, while there are over 200,000 that they can source from in the US," he continued.

As part of its plan to grow into new cities across the US, RiseKit will also expand its board and join forces with channel partners. Through strategic partnerships with like-minded organizations, the company can harness expertise and resources to deliver more value, thereby having a greater impact on society.

"Matt has found a very interesting model that we believe will provide economic returns while creating a truly life-changing event for the people who need it most. He cares so much about building an equal world, and that's why we think RiseKit can become the go-to DEI and Community Hiring tool for corporations," said Ethan Linkner, General Partner of Muditā VP.

To learn more about RiseKit, please visit their website or fill out this contact form.

About RiseKit

RiseKit provides all job seekers access to a career path, regardless of their zip code, social capital, or past circumstance. Its software connects unemployed and underemployed individuals from underserved communities with jobs, training programs, and supportive services to rise above any barriers to employment they may have. RiseKit also helps nonprofits, employers, government systems, and community foundations save time supporting job candidates, measuring outcomes, and efficiently impacting the communities they serve.

SOURCE RiseKit

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